Lockheed Martin Co. (NYSE:LMT) Expected to Post Quarterly Sales of $17.15 Billion

Analysts expect Lockheed Martin Co. (NYSE:LMT) to post sales of $17.15 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Lockheed Martin’s earnings, with the highest sales estimate coming in at $17.25 billion and the lowest estimate coming in at $16.96 billion. Lockheed Martin posted sales of $16.50 billion during the same quarter last year, which suggests a positive year over year growth rate of 3.9%. The company is expected to announce its next earnings results before the market opens on Tuesday, October 26th.

On average, analysts expect that Lockheed Martin will report full-year sales of $68.34 billion for the current year, with estimates ranging from $68.16 billion to $68.63 billion. For the next fiscal year, analysts expect that the firm will post sales of $70.41 billion, with estimates ranging from $69.76 billion to $71.16 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Lockheed Martin.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Sunday, July 25th. The aerospace company reported $6.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.53 by ($0.01). The firm had revenue of $17.03 billion during the quarter, compared to analyst estimates of $16.93 billion. Lockheed Martin had a net margin of 10.69% and a return on equity of 123.35%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.79 earnings per share.

Several equities research analysts have commented on LMT shares. Credit Suisse Group restated a “neutral” rating and set a $370.20 target price (down from $394.00) on shares of Lockheed Martin in a research report on Tuesday, July 27th. Jefferies Financial Group restated a “neutral” rating on shares of Lockheed Martin in a research report on Friday, September 10th. Wells Fargo & Company boosted their target price on shares of Lockheed Martin from $384.00 to $385.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 27th. Cowen lowered shares of Lockheed Martin from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $400.00 to $375.00 in a research report on Wednesday, September 29th. Finally, The Goldman Sachs Group lowered shares of Lockheed Martin from a “buy” rating to a “neutral” rating and set a $402.00 price objective on the stock. in a research report on Thursday, September 23rd. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Lockheed Martin has an average rating of “Hold” and an average price target of $396.03.

Shares of NYSE LMT opened at $361.76 on Thursday. The firm has a market capitalization of $100.18 billion, a P/E ratio of 14.18, a PEG ratio of 3.23 and a beta of 0.98. Lockheed Martin has a one year low of $319.81 and a one year high of $396.99. The company’s fifty day moving average is $353.25 and its two-hundred day moving average is $371.76. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.15 and a current ratio of 1.36.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 27th. Investors of record on Wednesday, December 1st will be given a $2.80 dividend. The ex-dividend date is Tuesday, November 30th. This is a positive change from Lockheed Martin’s previous quarterly dividend of $2.60. This represents a $11.20 annualized dividend and a dividend yield of 3.10%. Lockheed Martin’s payout ratio is currently 41.87%.

Lockheed Martin declared that its board has initiated a share buyback plan on Thursday, September 23rd that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the aerospace company to purchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

A number of large investors have recently added to or reduced their stakes in the business. K.J. Harrison & Partners Inc lifted its holdings in Lockheed Martin by 1.0% in the 1st quarter. K.J. Harrison & Partners Inc now owns 2,780 shares of the aerospace company’s stock valued at $1,027,000 after purchasing an additional 27 shares in the last quarter. Marotta Asset Management lifted its holdings in Lockheed Martin by 3.6% in the 2nd quarter. Marotta Asset Management now owns 777 shares of the aerospace company’s stock valued at $295,000 after purchasing an additional 27 shares in the last quarter. Kovack Advisors Inc. lifted its holdings in Lockheed Martin by 0.6% in the 2nd quarter. Kovack Advisors Inc. now owns 4,905 shares of the aerospace company’s stock valued at $1,856,000 after purchasing an additional 27 shares in the last quarter. Budros Ruhlin & Roe Inc. lifted its holdings in Lockheed Martin by 0.6% in the 2nd quarter. Budros Ruhlin & Roe Inc. now owns 5,045 shares of the aerospace company’s stock valued at $1,909,000 after purchasing an additional 29 shares in the last quarter. Finally, Lehman & Derafelo Financial Resources LLC lifted its holdings in Lockheed Martin by 4.2% in the 1st quarter. Lehman & Derafelo Financial Resources LLC now owns 749 shares of the aerospace company’s stock valued at $277,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 74.51% of the company’s stock.

About Lockheed Martin

Lockheed Martin Corp. operates as a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS) and Space.

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