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Northrop Grumman (NOC) Stock Falls Amid Market Uptick: What Investors Need to Know
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The latest trading session saw Northrop Grumman (NOC - Free Report) ending at $477.48, denoting a -0.59% adjustment from its last day's close. This change lagged the S&P 500's 0.8% gain on the day. Elsewhere, the Dow saw an upswing of 0.18%, while the tech-heavy Nasdaq appreciated by 1.37%.
Prior to today's trading, shares of the defense contractor had gained 4.3% over the past month. This has lagged the Aerospace sector's gain of 7% and the S&P 500's gain of 4.39% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Northrop Grumman in its upcoming earnings disclosure. On that day, Northrop Grumman is projected to report earnings of $5.77 per share, which would represent a year-over-year decline of 23.07%. Meanwhile, the latest consensus estimate predicts the revenue to be $10.4 billion, indicating a 3.7% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $22.73 per share and a revenue of $39.02 billion, indicating changes of -11% and +6.61%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Northrop Grumman. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 0.1% rise in the Zacks Consensus EPS estimate. Northrop Grumman is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Northrop Grumman has a Forward P/E ratio of 21.13 right now. This valuation marks a premium compared to its industry's average Forward P/E of 17.45.
It's also important to note that NOC currently trades at a PEG ratio of 8.73. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Aerospace - Defense industry was having an average PEG ratio of 1.92.
The Aerospace - Defense industry is part of the Aerospace sector. This industry, currently bearing a Zacks Industry Rank of 55, finds itself in the top 22% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Northrop Grumman (NOC) Stock Falls Amid Market Uptick: What Investors Need to Know
The latest trading session saw Northrop Grumman (NOC - Free Report) ending at $477.48, denoting a -0.59% adjustment from its last day's close. This change lagged the S&P 500's 0.8% gain on the day. Elsewhere, the Dow saw an upswing of 0.18%, while the tech-heavy Nasdaq appreciated by 1.37%.
Prior to today's trading, shares of the defense contractor had gained 4.3% over the past month. This has lagged the Aerospace sector's gain of 7% and the S&P 500's gain of 4.39% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Northrop Grumman in its upcoming earnings disclosure. On that day, Northrop Grumman is projected to report earnings of $5.77 per share, which would represent a year-over-year decline of 23.07%. Meanwhile, the latest consensus estimate predicts the revenue to be $10.4 billion, indicating a 3.7% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $22.73 per share and a revenue of $39.02 billion, indicating changes of -11% and +6.61%, respectively, from the former year.
It is also important to note the recent changes to analyst estimates for Northrop Grumman. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 0.1% rise in the Zacks Consensus EPS estimate. Northrop Grumman is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Northrop Grumman has a Forward P/E ratio of 21.13 right now. This valuation marks a premium compared to its industry's average Forward P/E of 17.45.
It's also important to note that NOC currently trades at a PEG ratio of 8.73. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Aerospace - Defense industry was having an average PEG ratio of 1.92.
The Aerospace - Defense industry is part of the Aerospace sector. This industry, currently bearing a Zacks Industry Rank of 55, finds itself in the top 22% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.