Lockheed Martin (LMT) Scheduled to Post Quarterly Earnings on Tuesday

Lockheed Martin (NYSE:LMT) will post its quarterly earnings results before the market opens on Tuesday, October 22nd. Analysts expect Lockheed Martin to post 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.Investors interested in listening to the company’s conference call can do so using this link.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, topping 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 previous year, the firm earned $6.73 earnings per share. The business’s revenue was up 8.6% compared to the same quarter last year. 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 Price Performance

Shares of LMT stock opened at $611.81 on Monday. The firm has a fifty day moving average of $578.29 and a two-hundred day moving average of $511.11. The firm has a market cap of $146.80 billion, a P/E ratio of 22.39, a P/E/G ratio of 4.84 and a beta of 0.47. Lockheed Martin has a 1-year low of $413.92 and a 1-year high of $614.62. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07.

Lockheed Martin Increases Dividend

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

Analyst Ratings Changes

LMT has been the topic of several research reports. TD Cowen upgraded Lockheed Martin to a “strong-buy” rating in a research note on Tuesday, October 8th. Citigroup upped their price target on Lockheed Martin from $570.00 to $700.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company lifted their price objective on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 24th. Royal Bank of Canada increased their target price on shares of Lockheed Martin from $600.00 to $675.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. Finally, Barclays lifted their price target on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $597.92.

Insiders Place Their Bets

In other news, insider Timothy S. Cahill sold 3,975 shares of Lockheed Martin stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $515.36, for a total transaction of $2,048,556.00. Following the sale, 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 filing with the SEC, which is accessible through the SEC website. 0.17% of the stock is owned by 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.