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.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LMT. UBS Group upped their price target on shares of Lockheed Martin from $482.00 to $499.00 and gave the company a neutral rating in a research report on Wednesday. Citigroup upped their price target on shares of Lockheed Martin from $508.00 to $525.00 and gave the company a buy rating in a research report on Wednesday. JPMorgan Chase & Co. upgraded Lockheed Martin from a neutral rating to an overweight rating and boosted their price objective for the company from $475.00 to $518.00 in a research note on Monday, April 15th. Morgan Stanley cut their price objective on Lockheed Martin from $513.00 to $503.00 and set an equal weight rating for the company in a research note on Wednesday, January 24th. Finally, Wells Fargo & Company boosted their price objective on Lockheed Martin from $460.00 to $480.00 and gave the company an equal weight rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $485.40.

Lockheed Martin Stock Up 1.3 %

LMT traded up $6.05 on Thursday, hitting $465.19. The company had a trading volume of 927,138 shares, compared to its average volume of 1,171,864. Lockheed Martin has a 12-month low of $393.77 and a 12-month high of $479.50. The stock has a market capitalization of $111.87 billion, a price-to-earnings ratio of 17.02, a P/E/G ratio of 4.21 and a beta of 0.48. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.03 and a current ratio of 1.30. The stock has a fifty day moving average price of $443.00 and a 200-day moving average price of $444.29.

Lockheed Martin (NYSE:LMT) last released its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 EPS for the quarter, topping analysts’ consensus estimates of $5.80 by $0.53. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The firm had revenue of $17.20 billion during the quarter, compared to the consensus estimate of $16.04 billion. During the same quarter in the previous year, the company posted $6.43 earnings per share. The company’s revenue was up 13.7% compared to the same quarter last year. Analysts predict that Lockheed Martin will post 26.04 EPS for the current fiscal year.

Insider Buying and Selling at Lockheed Martin

In other news, COO John Frank A. St sold 6,648 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $425.35, for a total transaction of $2,827,726.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Maryanne Lavan sold 4,022 shares of the business’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 transaction of $1,747,116.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John Frank A. St sold 6,648 shares of the business’s stock in a transaction that occurred 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. Over the last ninety days, insiders sold 16,874 shares of company stock valued at $7,249,946. 0.17% of the stock is owned by company insiders.

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.