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Northrop Grumman (NOC) Dips More Than Broader Markets: What You Should Know
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Northrop Grumman (NOC - Free Report) closed at $540.33 in the latest trading session, marking a -0.97% move from the prior day. This change lagged the S&P 500's daily loss of 0.4%. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq lost 4.72%.
Prior to today's trading, shares of the defense contractor had gained 0.77% over the past month. This has outpaced the Aerospace sector's loss of 1.62% and the S&P 500's loss of 5.57% in that time.
Investors will be hoping for strength from Northrop Grumman as it approaches its next earnings release, which is expected to be January 26, 2023. In that report, analysts expect Northrop Grumman to post earnings of $6.60 per share. This would mark year-over-year growth of 10%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.66 billion, up 11.81% from the year-ago period.
Any recent changes to analyst estimates for Northrop Grumman should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.42% higher. Northrop Grumman currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Northrop Grumman is currently trading at a Forward P/E ratio of 22.14. This represents a no noticeable deviation compared to its industry's average Forward P/E of 22.14.
Also, we should mention that NOC has a PEG ratio of 6.63. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Aerospace - Defense was holding an average PEG ratio of 2.29 at yesterday's closing price.
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 183, putting it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Northrop Grumman (NOC) Dips More Than Broader Markets: What You Should Know
Northrop Grumman (NOC - Free Report) closed at $540.33 in the latest trading session, marking a -0.97% move from the prior day. This change lagged the S&P 500's daily loss of 0.4%. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq lost 4.72%.
Prior to today's trading, shares of the defense contractor had gained 0.77% over the past month. This has outpaced the Aerospace sector's loss of 1.62% and the S&P 500's loss of 5.57% in that time.
Investors will be hoping for strength from Northrop Grumman as it approaches its next earnings release, which is expected to be January 26, 2023. In that report, analysts expect Northrop Grumman to post earnings of $6.60 per share. This would mark year-over-year growth of 10%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.66 billion, up 11.81% from the year-ago period.
Any recent changes to analyst estimates for Northrop Grumman should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.42% higher. Northrop Grumman currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Northrop Grumman is currently trading at a Forward P/E ratio of 22.14. This represents a no noticeable deviation compared to its industry's average Forward P/E of 22.14.
Also, we should mention that NOC has a PEG ratio of 6.63. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Aerospace - Defense was holding an average PEG ratio of 2.29 at yesterday's closing price.
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 183, putting it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.