Lockheed Martin (NYSE:LMT) Announces Quarterly Earnings Results

Lockheed Martin (NYSE:LMT) posted its earnings results on Tuesday. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.66, Briefing.com reports. The business had revenue of $18.12 billion for the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 90.61%. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.73 EPS. Lockheed Martin updated its FY24 guidance to $26.10-26.60 EPS and its FY 2024 guidance to 26.100-26.600 EPS.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock traded up $6.20 on Thursday, hitting $521.40. 1,918,858 shares of the company traded hands, compared to its average volume of 1,085,198. The stock has a market capitalization of $125.10 billion, a P/E ratio of 19.11, a price-to-earnings-growth ratio of 4.67 and a beta of 0.46. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.11 and a current ratio of 1.30. Lockheed Martin has a 52 week low of $393.77 and a 52 week high of $526.58. The business has a 50-day simple moving average of $467.28 and a 200 day simple moving average of $452.98.

Lockheed Martin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $3.15 per share. This represents a $12.60 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s payout ratio is currently 46.10%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LMT shares. Royal Bank of Canada raised their price objective on shares of Lockheed Martin from $470.00 to $500.00 and gave the stock a “sector perform” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Lockheed Martin from $487.00 to $540.00 and gave the stock a “hold” rating in a report on Wednesday. Citigroup lifted their price target on shares of Lockheed Martin from $508.00 to $525.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. The Goldman Sachs Group lowered their price target on shares of Lockheed Martin from $380.00 to $377.00 and set a “sell” rating on the stock in a report on Tuesday, April 23rd. Finally, Susquehanna lifted their price target on shares of Lockheed Martin from $540.00 to $565.00 and gave the company a “positive” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lockheed Martin currently has a consensus rating of “Hold” and a consensus price target of $513.45.

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.