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

Lockheed Martin (NYSE:LMT) updated its FY 2024 earnings guidance on Tuesday. 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.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. 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 research note on Wednesday. Susquehanna dropped their target price on Lockheed Martin from $550.00 to $540.00 and set a positive rating on the stock in a report on Wednesday, January 24th. StockNews.com upgraded Lockheed Martin from a buy rating to a strong-buy rating in a research note on Thursday. Wells Fargo & Company upped their price objective on Lockheed Martin from $460.00 to $480.00 and gave the stock an equal weight rating in a research note on Thursday. Finally, UBS Group raised their target price on shares of Lockheed Martin from $482.00 to $499.00 and gave the company a neutral rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Lockheed Martin currently has a consensus rating of Hold and an average target price of $485.40.

Lockheed Martin Price Performance

Lockheed Martin stock traded down $3.74 during mid-day trading on Friday, reaching $461.04. 189,919 shares of the company were exchanged, compared to its average volume of 1,158,936. The company has a debt-to-equity ratio of 2.89, a current ratio of 1.30 and a quick ratio of 1.03. Lockheed Martin has a 12 month low of $393.77 and a 12 month high of $479.50. The firm has a market cap of $110.62 billion, a PE ratio of 17.02, a PEG ratio of 4.20 and a beta of 0.48. The company has a fifty day simple moving average of $443.00 and a 200-day simple moving average of $444.29.

Lockheed Martin (NYSE:LMT) last released its earnings results 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 return on equity of 85.96% and a net margin of 9.73%. The firm had revenue of $17.20 billion during the quarter, compared to analysts’ expectations of $16.04 billion. During the same period in the prior year, the company earned $6.43 earnings per share. The company’s quarterly revenue was up 13.7% on a year-over-year basis. As a group, equities research analysts expect that Lockheed Martin will post 26.04 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Gregory M. Ulmer sold 6,204 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was 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 in the company, valued at $5,434,718.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Lockheed Martin news, insider Gregory M. Ulmer sold 6,204 shares of Lockheed Martin stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total value of $2,675,102.76. Following the completion of the sale, the insider now directly owns 12,604 shares in the company, valued at $5,434,718.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO John Frank A. St sold 6,648 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was 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. Over the last 90 days, insiders sold 16,874 shares of company stock valued at $7,249,946. Insiders own 0.17% of the company’s stock.

About Lockheed Martin

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.