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Northrop Grumman (NOC) Stock Sinks As Market Gains: What You Should Know
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Northrop Grumman (NOC - Free Report) closed at $521.42 in the latest trading session, marking a -1.34% move from the prior day. This move lagged the S&P 500's daily gain of 2.28%. At the same time, the Dow added 2.13%, and the tech-heavy Nasdaq gained 5.02%.
Prior to today's trading, shares of the defense contractor had lost 2.23% over the past month. This has lagged the Aerospace sector's loss of 0.52% and was narrower than the S&P 500's loss of 4.61% in that time.
Wall Street will be looking for positivity from Northrop Grumman as it approaches its next earnings report date. This is expected to be January 26, 2023. The company is expected to report EPS of $6.60, up 10% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.66 billion, up 11.81% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Northrop Grumman. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Northrop Grumman is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Northrop Grumman is holding a Forward P/E ratio of 23.75. Its industry sports an average Forward P/E of 17.43, so we one might conclude that Northrop Grumman is trading at a premium comparatively.
Investors should also note that NOC has a PEG ratio of 7.11 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Aerospace - Defense industry currently had an average PEG ratio of 2.02 as of yesterday's close.
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 154, which puts it in the bottom 39% 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.
To follow NOC in the coming trading sessions, be sure to utilize Zacks.com.
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Northrop Grumman (NOC) Stock Sinks As Market Gains: What You Should Know
Northrop Grumman (NOC - Free Report) closed at $521.42 in the latest trading session, marking a -1.34% move from the prior day. This move lagged the S&P 500's daily gain of 2.28%. At the same time, the Dow added 2.13%, and the tech-heavy Nasdaq gained 5.02%.
Prior to today's trading, shares of the defense contractor had lost 2.23% over the past month. This has lagged the Aerospace sector's loss of 0.52% and was narrower than the S&P 500's loss of 4.61% in that time.
Wall Street will be looking for positivity from Northrop Grumman as it approaches its next earnings report date. This is expected to be January 26, 2023. The company is expected to report EPS of $6.60, up 10% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.66 billion, up 11.81% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Northrop Grumman. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Northrop Grumman is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Northrop Grumman is holding a Forward P/E ratio of 23.75. Its industry sports an average Forward P/E of 17.43, so we one might conclude that Northrop Grumman is trading at a premium comparatively.
Investors should also note that NOC has a PEG ratio of 7.11 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Aerospace - Defense industry currently had an average PEG ratio of 2.02 as of yesterday's close.
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 154, which puts it in the bottom 39% 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.
To follow NOC in the coming trading sessions, be sure to utilize Zacks.com.