Lockheed Martin (NYSE:LMT - Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 26.650-26.650 for the period, compared to the consensus estimate of 26.380. The company issued revenue guidance of $71.3 billion-$71.3 billion, compared to the consensus revenue estimate of $71.1 billion. Lockheed Martin also updated its FY24 guidance to $26.65 EPS.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on LMT shares. TD Cowen raised Lockheed Martin to a "strong-buy" rating in a research note on Tuesday, October 8th. Robert W. Baird boosted their price target on shares of Lockheed Martin from $519.00 to $626.00 in a report on Tuesday. StockNews.com upgraded shares of Lockheed Martin from a "buy" rating to a "strong-buy" rating in a research report on Thursday, October 10th. UBS Group boosted their target price on shares of Lockheed Martin from $511.00 to $538.00 and gave the company a "neutral" rating in a research note on Wednesday, July 24th. Finally, Melius raised Lockheed Martin from a "hold" rating to a "buy" rating and set a $704.00 target price for the company in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $599.93.
Check Out Our Latest Analysis on LMT
Lockheed Martin Stock Performance
Shares of NYSE LMT traded down $37.63 during trading hours on Tuesday, hitting $576.98. 2,255,914 shares of the company's stock were exchanged, compared to its average volume of 1,052,953. The stock has a market capitalization of $138.44 billion, a price-to-earnings ratio of 21.02, a PEG ratio of 4.84 and a beta of 0.47. The company's 50-day moving average price is $579.45 and its 200-day moving average price is $512.24. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. Lockheed Martin has a 1-year low of $413.92 and a 1-year high of $618.95.
Lockheed Martin (NYSE:LMT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating the consensus estimate of $6.45 by $0.66. The company had revenue of $18.12 billion during the quarter, compared to analysts' expectations of $17.05 billion. Lockheed Martin had a return on equity of 95.03% and a net margin of 9.48%. Lockheed Martin's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business earned $6.73 earnings per share. On average, sell-side analysts expect that Lockheed Martin will post 26.68 earnings per share for the current fiscal year.
Lockheed Martin Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Monday, December 2nd. This is a boost from Lockheed Martin's previous quarterly dividend of $3.15. Lockheed Martin's dividend payout ratio (DPR) is presently 48.30%.
Insider Buying and Selling
In related news, insider Timothy S. Cahill sold 3,975 shares of the company's stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the completion of the transaction, the insider now directly owns 8,877 shares in the company, valued at approximately $4,574,850.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.17% of the stock is owned by company insiders.
About Lockheed Martin
(
Get Free Report)
Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.
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