Lockheed Martin (NYSE:LMT) Issues FY 2024 Earnings Guidance

Lockheed Martin (NYSE:LMT) issued an update on its FY 2024 earnings guidance on Tuesday morning. 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.

Lockheed Martin Price Performance

Shares of NYSE LMT traded down $1.78 during mid-day trading on Wednesday, hitting $458.30. 457,488 shares of the stock were exchanged, compared to its average volume of 1,167,445. The company has a market cap of $110.22 billion, a P/E ratio of 16.66, a PEG ratio of 4.21 and a beta of 0.48. The stock’s fifty day simple moving average is $441.34 and its two-hundred day simple moving average is $444.04. 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 has a twelve month low of $393.77 and a twelve month high of $480.92.

Lockheed Martin (NYSE:LMT) last posted its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share for the quarter, topping the consensus estimate of $5.80 by $0.53. Lockheed Martin had a net margin of 10.24% and a return on equity of 79.91%. The company had revenue of $17.20 billion during the quarter, compared to analyst estimates of $16.04 billion. During the same quarter last year, the business posted $6.43 earnings per share. The company’s revenue was up 13.7% on a year-over-year basis. As a group, analysts forecast that Lockheed Martin will post 26.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LMT. UBS Group increased their price target on shares of Lockheed Martin from $482.00 to $499.00 and gave the company a neutral rating in a research note on Wednesday. JPMorgan Chase & Co. raised shares of Lockheed Martin from a neutral rating to an overweight rating and raised their price objective for the company from $475.00 to $518.00 in a research note on Monday, April 15th. Susquehanna reduced 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. Royal Bank of Canada reduced 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. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of 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. Based on data from MarketBeat, Lockheed Martin presently has a consensus rating of Hold and a consensus target price of $478.20.

Insider Transactions at Lockheed Martin

In other news, COO John Frank A. St sold 6,648 shares of Lockheed Martin stock in a transaction on 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 legal filing with the SEC, which is available through this link. In related news, insider Gregory M. Ulmer sold 6,204 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $431.19, for a total value of $2,675,102.76. Following the sale, the insider now directly owns 12,604 shares of the company’s stock, valued at approximately $5,434,718.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John Frank A. St sold 6,648 shares of the business’s stock in a transaction on Friday, March 1st. The shares were 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 valued at $7,249,946 over the last three months. 0.14% of the stock is currently owned by corporate 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.