Northrop Grumman’s Q4 Earnings Fall; Forecast Lowered (NOC)

Filed in dividend, earnings, Gold Investing, o, revenue, shares by on February 9, 2011 0 Comments

Defense contractor Northrop Grumman Corporation ( NOC ) on Wednesday posted better-than-expected fourth quarter profits, but lowered its full-year forecast below analysts’ view. The Los Angeles-based company reported fourth quarter net income of $376 million, or $1.27 per share, compared with $413 million, or $1.31 per share, in the year-ago period. Revenue fell more than 3% from last year to $8.61 billion. On average, Wall Street analysts expected a much smaller profit of $1.01 per share, albeit on higher revenue of $8.80 billion. Looking ahead, the company forecast full-year 2011 earnings to range from $6.40 to $6.60 per share, excluding its shipbuilding business, which will be sold or spun off this year. Analysts currently expect a higher full-year profit of $6.98 per share. Northrop Grumman shares were mostly flat in premarket trading Wednesday. The Bottom Line Shares of Northrop Grumman ( NOC ) have a 2.64% dividend yield, based on last night’s closing stock price of $71.09. The stock has technical support in the $66 price area. If the shares can firm up, we see overhead resistance around the $75 price level. Northrop Grumman Corporation ( NOC ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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Northrop Grumman’s Q4 Earnings Fall; Forecast Lowered (NOC)

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