Lockheed Martin (LMT) to Release Quarterly Earnings on Tuesday

Lockheed Martin (NYSE:LMT) is scheduled to announce its earnings results before the market opens on Tuesday, October 22nd. Analysts expect the company to announce earnings of $6.40 per share for the quarter. Lockheed Martin has set its FY24 guidance at $26.10-26.60 EPS and its FY 2024 guidance at 26.100-26.600 EPS.Parties that wish to listen to the company’s conference call can do so using this link.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 EPS for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business had revenue of $18.12 billion during the quarter, compared to analyst estimates of $17.05 billion. During the same quarter in the prior year, the business earned $6.73 earnings per share. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts expect Lockheed Martin to post $27 EPS for the current fiscal year and $29 EPS for the next fiscal year.

Lockheed Martin Stock Up 0.4 %

NYSE LMT opened at $611.81 on Friday. Lockheed Martin has a twelve month low of $413.92 and a twelve month high of $614.62. The stock has a market cap of $146.80 billion, a PE ratio of 22.39, a PEG ratio of 4.84 and a beta of 0.47. The firm has a 50-day simple moving average of $578.29 and a 200 day simple moving average of $510.67. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24.

Lockheed Martin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a $3.30 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.16%. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is currently 48.30%.

Insider Activity at Lockheed Martin

In other Lockheed Martin news, insider Timothy S. Cahill sold 3,975 shares of the business’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total value of $2,048,556.00. Following the transaction, the insider now owns 8,877 shares of the company’s stock, valued at approximately $4,574,850.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Royal Bank of Canada upped their target price on Lockheed Martin from $600.00 to $675.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Citigroup increased their price objective on shares of Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Barclays lifted their target price on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. UBS Group increased their price target on shares of Lockheed Martin from $511.00 to $538.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 24th. Finally, Wells Fargo & Company lifted their price objective on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $597.92.

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.