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Stock Update (NYSE:NOC): US Navy Selects Northrop Grumman to Design and Produce Shipboard Laser Weapon System Demonstrator

[GlobeNewswire] – REDONDO BEACH, Calif. — The U.S. Navy will get a peek at a future where high energy laser weapons could defend its ships against attack under a contract awarded Oct. 22 to Northrop Grumman Corporation … Read more on this. Northrop Grumman Corporation (NOC) , valued at $34.34B, started trading this morning at $189.92. During the trading session, NOC traded between $187.70 to $190.67 with a one year range of $141.58 to $193.99. Priced at 19.17x this year’s forecasted earnings, NOC shares are relatively inexpensive compared to the industry’s 43.45x forward p/e ratio. And for passive income investors, the company pays shareholders $3.20 per share annually in dividends, yielding 1.73%. According to a consensus of 17 analysts, the earnings estimate of $1.99 per share would be $0.49 worse than the year-ago quarter and a $0.41 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $9.86 would be a $0.11 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $5.93 Billion. If realized, that would be a 2.95% decrease over the year-ago quarter. More recently, JP Morgan Initiated NOC at Underweight (Jul 14, 2015). Previously, Deutsche Bank upgraded NOC from Hold to Buy. The average price target for NOC shares by the analysts covering the stock is $201.07, which is 5.87% above where the stock opened this morning. See more in (NYSE:NOC) Similar Articles: Market Update: Northrop Grumman Corporation (NYSE:NOC) – Northrop Grumman Selected to Provide Replacement Inertial Navigation System to US Navy Stock Update: Northrop Grumman Corporation (NYSE:NOC) – Northrop Grumman Names Kevin Mickey Vice President, Advanced Design Company Update: Northrop Grumman Corporation (NYSE:NOC) – Northrop Grumman’s SYNOPTICS Introduces New Material for Short-Pulsed Laser Devices
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