Stock Update: Northrop Grumman Corporation (NYSE:NOC) – US Air Force Awards Northrop Grumman GPS III Space Vehicle Alternatives Program Study Contract

[GlobeNewswire] – REDONDO BEACH, Calif. — The United States Air Force has awarded Northrop Grumman Corporation a 26-month study contract based on the company’s innovative proposal for the next-generation Global Positioning … Read more on this. Northrop Grumman Corporation (NOC) , with a current market cap of $39.24B, began trading this morning at $215.08. Looking at the stock, its one day range is $214.72 to $217.64 and has traded between $152.31 and $217.64 over the past year. NOC shares are currently priced at 20.03x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 22.04x earnings multiple. And for passive income investors, the company pays shareholders $3.20 per share annually in dividends, yielding 1.49%. In a review of the consensus earnings estimate this quarter, 16 sell-side analysts are looking at $2.53 per share, which would be $0.21 worse than the year-ago quarter and a $0.03 sequential decrease. The full-year EPS estimate is $10.69 which would be a $0.30 better than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $5.98 Billion. If realized, that would be a 1.36% increase over the year-ago quarter. Recently, Guggenheim Initiated NOC at Buy (Apr 5, 2016). Previously, BofA/Merrill upgraded NOC from Neutral to Buy. The average price target for NOC shares by the analysts covering it is $215.67, which is 0.27% above where the stock opened. See more in (NYSE:NOC) Similar Articles: Market Update (NYSE:NOC): Northrop Grumman Responds to GPS III Space Vehicle Alternatives Program Stock Update (NYSE:NOC): Northrop Grumman Awarded Contract from US Air Force to Support GPS Modernization Stock Update: Northrop Grumman Corporation (NYSE:NOC) – Northrop Grumman Selected to Improve Survivability of US Air Force C-130 Aircraft
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