Northrop Grumman (NYSE: NOC) is expected to report Q2 earnings on July 24. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict Northrop Grumman's revenues will wane -4.9% and EPS will compress -9.0%.

The average estimate for revenue is $5.96 billion. On the bottom line, the average EPS estimate is $1.71.

Revenue details
 Last quarter, Northrop Grumman logged revenue of $6.10 billion. GAAP reported sales were 1.5% lower than the prior-year quarter's $6.20 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 Last quarter, EPS came in at $2.03. GAAP EPS of $2.03 for Q1 were 3.6% higher than the prior-year quarter's $1.96 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
 For the preceding quarter, gross margin was 21.6%, 30 basis points worse than the prior-year quarter. Operating margin was 12.4%, 40 basis points worse than the prior-year quarter. Net margin was 8.0%, 20 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $24.02 billion. The average EPS estimate is $7.18.

Investor sentiment
 The stock has a four-star rating (out of five) at Motley Fool CAPS, with 804 members out of 868 rating the stock outperform, and 64 members rating it underperform. Among 261 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 253 give Northrop Grumman a green thumbs-up, and eight give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Northrop Grumman is hold, with an average price target of $67.13.

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