Wall Street brokerages expect Lockheed Martin Co. (NYSE:LMT) to announce $4.06 earnings per share for the current quarter, according to Zacks. Five analysts have provided estimates for Lockheed Martin’s earnings, with the lowest EPS estimate coming in at $3.93 and the highest estimate coming in at $4.17. Lockheed Martin posted earnings of $3.25 per share during the same quarter last year, which suggests a positive year over year growth rate of 24.9%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Monday, January 29th.
On average, analysts expect that Lockheed Martin will report full year earnings of $13.11 per share for the current year, with EPS estimates ranging from $12.90 to $13.25. For the next financial year, analysts expect that the firm will report earnings of $13.76 per share, with EPS estimates ranging from $12.90 to $15.40. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow Lockheed Martin.
Lockheed Martin (NYSE:LMT) last posted its earnings results on Tuesday, October 24th. The aerospace company reported $3.24 earnings per share for the quarter, missing the consensus estimate of $3.26 by ($0.02). The business had revenue of $12.17 billion for the quarter, compared to analysts’ expectations of $12.83 billion. Lockheed Martin had a return on equity of 221.41% and a net margin of 7.31%. Lockheed Martin’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.61 EPS.
Several equities research analysts recently weighed in on the company. Vetr cut Lockheed Martin from a “buy” rating to a “hold” rating and set a $332.40 target price for the company. in a research note on Thursday, January 4th. Royal Bank of Canada set a $314.00 target price on Lockheed Martin and gave the stock a “hold” rating in a research note on Wednesday, November 15th. Bank of America set a $360.00 target price on Lockheed Martin and gave the stock a “buy” rating in a research note on Friday, October 27th. Cowen restated a “hold” rating and set a $320.00 target price on shares of Lockheed Martin in a research note on Wednesday, October 25th. Finally, Zacks Investment Research upgraded Lockheed Martin from a “sell” rating to a “hold” rating in a research note on Wednesday, October 25th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $323.67.
Shares of Lockheed Martin (LMT) opened at $336.25 on Friday. The firm has a market capitalization of $96,410.00, a P/E ratio of 27.27, a P/E/G ratio of 3.28 and a beta of 0.58. Lockheed Martin has a 52 week low of $248.00 and a 52 week high of $336.35. The company has a debt-to-equity ratio of 6.56, a quick ratio of 0.95 and a current ratio of 1.32.
Lockheed Martin declared that its board has approved a stock repurchase program on Thursday, September 28th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the aerospace company to buy up to 2.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
In related news, Director Daniel F. Akerson bought 2,500 shares of the company’s stock in a transaction dated Wednesday, October 25th. The shares were acquired at an average price of $312.02 per share, with a total value of $780,050.00. Following the completion of the acquisition, the director now owns 7,432 shares in the company, valued at approximately $2,318,932.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Dale P. Bennett sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $313.75, for a total value of $627,500.00. The disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.
An institutional investor recently bought a new position in Lockheed Martin stock. Buckingham Capital Management Inc. bought a new stake in Lockheed Martin Co. (NYSE:LMT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 670 shares of the aerospace company’s stock, valued at approximately $208,000. Institutional investors own 78.81% of the company’s stock.
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Lockheed Martin Company Profile
Lockheed Martin Corporation is a security and aerospace company. The Company operates through four segments. Aeronautics segment is engaged in the research, design, development, manufacture, integration, sustainment, support and upgrade of military aircraft, including combat and air mobility aircraft, unmanned air vehicles and related technologies.
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