Lockheed Martin (NYSE:LMT) Issues FY 2024 Earnings Guidance

Lockheed Martin (NYSE:LMT) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 25.650-26.350 for the period, compared to the consensus EPS estimate of 24.420. The company issued revenue guidance of $68.5 billion-$70.0 billion, compared to the consensus revenue estimate of $65.2 billion. Lockheed Martin also updated its FY24 guidance to $25.65-26.35 EPS.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. upgraded Lockheed Martin from a neutral rating to an overweight rating and upped their price target for the stock from $475.00 to $518.00 in a report on Monday, April 15th. Royal Bank of Canada dropped their price objective on Lockheed Martin from $475.00 to $470.00 and set a sector perform rating on the stock in a report on Wednesday, January 24th. Morgan Stanley dropped their price objective on Lockheed Martin from $513.00 to $503.00 and set an equal weight rating on the stock in a report on Wednesday, January 24th. The Goldman Sachs Group reduced their target price on Lockheed Martin from $380.00 to $377.00 and set a sell rating for the company in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Lockheed Martin from $438.00 to $472.00 in a report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $478.20.

Lockheed Martin Stock Performance

Shares of LMT stock traded down $1.78 during trading hours on Wednesday, reaching $458.30. 457,488 shares of the company’s stock were exchanged, compared to its average volume of 1,167,445. The company has a market cap of $110.22 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 4.21 and a beta of 0.48. The company’s 50 day moving average is $441.34 and its two-hundred day moving average is $444.04. Lockheed Martin has a 1 year low of $393.77 and a 1 year high of $480.92. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.21 and a quick ratio of 1.03.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.80 by $0.53. Lockheed Martin had a return on equity of 79.91% and a net margin of 10.24%. The business had revenue of $17.20 billion during the quarter, compared to the consensus estimate of $16.04 billion. During the same period in the prior year, the business posted $6.43 EPS. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. Equities research analysts anticipate that Lockheed Martin will post 26.13 EPS for the current fiscal year.

Insider Activity at Lockheed Martin

In related news, SVP Maryanne Lavan sold 4,022 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total value of $1,747,116.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total transaction of $1,747,116.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John Frank A. St sold 6,648 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $425.35, for a total value of $2,827,726.80. The disclosure for this sale can be found here. Insiders sold 16,874 shares of company stock valued at $7,249,946 in the last ninety days. Corporate insiders own 0.14% of the company’s stock.

About Lockheed Martin

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.