Lockheed Martin (NYSE:LMT) Releases FY24 Earnings Guidance

Lockheed Martin (NYSE:LMT) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $25.65-26.35 for the period, compared to the consensus estimate of $26.05. The company issued revenue guidance of $68.50-70.00 billion, compared to the consensus revenue estimate of $69.52 billion.

Analyst Ratings Changes

A number of research firms have commented on LMT. Royal Bank of Canada dropped their price objective on shares of Lockheed Martin from $475.00 to $470.00 and set a sector perform rating on the stock in a research note on Wednesday, January 24th. Morgan Stanley dropped their price objective on shares of Lockheed Martin from $513.00 to $503.00 and set an equal weight rating on the stock in a research note on Wednesday, January 24th. Susquehanna dropped their price objective on shares of Lockheed Martin from $550.00 to $540.00 and set a positive rating on the stock in a research note on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Lockheed Martin from $438.00 to $472.00 in a research note on Monday, January 22nd. Finally, Citigroup dropped their price target on shares of Lockheed Martin from $540.00 to $508.00 and set a buy rating on the stock in a research note on Wednesday, January 24th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Lockheed Martin currently has a consensus rating of Hold and an average target price of $486.78.

Lockheed Martin Trading Up 1.1 %

Shares of Lockheed Martin stock opened at $466.40 on Tuesday. Lockheed Martin has a 52-week low of $393.77 and a 52-week high of $483.53. The company has a quick ratio of 1.03, a current ratio of 1.21 and a debt-to-equity ratio of 2.53. The company’s 50-day simple moving average is $440.67 and its 200-day simple moving average is $443.62. The firm has a market cap of $112.16 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 4.23 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last issued its earnings results on Tuesday, January 23rd. The aerospace company reported $7.90 earnings per share for the quarter, topping the consensus estimate of $7.26 by $0.64. Lockheed Martin had a net margin of 10.24% and a return on equity of 79.91%. The company had revenue of $18.87 billion for the quarter, compared to analyst estimates of $17.96 billion. During the same period in the prior year, the business posted $7.79 earnings per share. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, equities research analysts anticipate that Lockheed Martin will post 26.13 earnings per share for the current year.

Insiders Place Their Bets

In other Lockheed Martin news, COO John Frank A. St sold 6,648 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $425.35, for a total transaction of $2,827,726.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Lockheed Martin news, COO John Frank A. St sold 6,648 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $425.35, for a total transaction of $2,827,726.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Gregory M. Ulmer sold 6,204 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $431.19, for a total transaction of $2,675,102.76. Following the completion of the sale, the insider now owns 12,604 shares in the company, valued at $5,434,718.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,874 shares of company stock worth $7,249,946. 0.14% of the stock is owned by company insiders.

Lockheed Martin Company Profile

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.