Yahoo Finance Here's Why Northrop Grumman (NOC) is a Strong Momentum Stock
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
Is This 1 Momentum Stock a Screaming Buy Right Now?
For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
Northrop Grumman (NOC)
Originally formed in 1939 as Northrop Aircraft Incorporated and reincorporated in 1985 as Northrop Corporation in Delaware, Northrop was a principal developer of flying wing technology. In 1994, the company acquired Grumman Corporation (Grumman), after which the company was renamed Northrop Grumman Corporation. Currently, this global security company supplies a broad array of products like space systems, military aircraft, missile defense, advanced weapons and long-range fire capabilities, mission systems, networking and communications, strategic deterrence systems, and breakthrough technologies, such as advanced computing, microelectronics and cyber. As of Dec 31, 2023, the company operates through the following reportable segments:
NOC sits at a Zacks Rank #3 (Hold), holds a Momentum Style Score of A, and has a VGM Score of B. The stock is up 3.9% and up 0.4% over the past one-week and four-week period, respectively, and Northrop Grumman has gained 4.2% in the last one-year period as well. Additionally, an average of 1,189,051.75 shares were traded over the last 20 trading sessions.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, four analysts revised their earnings estimate higher in the last 60 days for NOC, while the Zacks Consensus Estimate has increased $0.02 to $24.70 per share. NOC also boasts an average earnings surprise of 6.1%.
Investors should take the time to consider NOC for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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Northrop Grumman Corporation (NOC) : Free Stock Analysis Report
