Lockheed Martin (NYSE:LMT - Get Free Report) 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 recently issued reports on LMT shares. Royal Bank of Canada decreased their target price on shares of Lockheed Martin from $475.00 to $470.00 and set a sector perform rating on the stock in a research report on Wednesday, January 24th. Citigroup decreased their price objective on shares of Lockheed Martin from $540.00 to $508.00 and set a buy rating for the company in a research report on Wednesday, January 24th. Susquehanna dropped their target price on Lockheed Martin from $550.00 to $540.00 and set a positive rating on the stock in a research report on Wednesday, January 24th. UBS Group cut their price target on Lockheed Martin from $488.00 to $475.00 and set a neutral rating on the stock in a research note on Wednesday, January 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Lockheed Martin from $438.00 to $472.00 in a research note on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of $475.80.
Check Out Our Latest Analysis on LMT
Lockheed Martin Price Performance
Shares of NYSE:LMT traded down $1.25 during trading hours on Tuesday, hitting $460.08. 1,761,096 shares of the company's stock traded hands, compared to its average volume of 1,176,603. Lockheed Martin has a 52 week low of $393.77 and a 52 week high of $483.53. The company has a market cap of $110.64 billion, a price-to-earnings ratio of 16.69, a price-to-earnings-growth ratio of 4.23 and a beta of 0.48. The company's fifty day simple moving average is $440.67 and its two-hundred day simple moving average is $443.62. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.03 and a current ratio of 1.21.
Lockheed Martin (NYSE:LMT - Get Free Report) last issued its quarterly earnings results on Tuesday, January 23rd. The aerospace company reported $7.90 earnings per share for the quarter, beating analysts' consensus estimates of $7.26 by $0.64. The business had revenue of $18.87 billion for the quarter, compared to the consensus estimate of $17.96 billion. Lockheed Martin had a return on equity of 79.91% and a net margin of 10.24%. Lockheed Martin's revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.79 earnings per share. As a group, equities analysts anticipate that Lockheed Martin will post 26.13 EPS for the current fiscal year.
Insider Buying and Selling at Lockheed Martin
In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of the company'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 is accessible through this hyperlink. In related news, SVP Maryanne Lavan sold 4,022 shares of the company's stock in a transaction on Tuesday, March 5th. The shares were 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 available through this link. Also, COO John Frank A. St sold 6,648 shares of the business's stock in a transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 16,874 shares of company stock worth $7,249,946 over the last three months. Corporate insiders own 0.14% of the company's stock.
Lockheed Martin Company Profile
(
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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