Zacks: Brokerages Anticipate Lockheed Martin Co. (NYSE:LMT) Will Announce Quarterly Sales of $15.24 Billion

Equities analysts forecast that Lockheed Martin Co. (NYSE:LMT) will announce $15.24 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Lockheed Martin’s earnings, with the lowest sales estimate coming in at $14.98 billion and the highest estimate coming in at $15.47 billion. Lockheed Martin reported sales of $14.43 billion during the same quarter last year, which indicates a positive year over year growth rate of 5.6%. The business is expected to announce its next earnings report on Tuesday, July 28th.

On average, analysts expect that Lockheed Martin will report full year sales of $63.51 billion for the current financial year, with estimates ranging from $63.25 billion to $63.90 billion. For the next financial year, analysts anticipate that the business will report sales of $66.80 billion, with estimates ranging from $64.08 billion to $68.31 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Lockheed Martin.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 21st. The aerospace company reported $6.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.80 by $0.28. The company had revenue of $15.65 billion during the quarter, compared to analysts’ expectations of $15.07 billion. Lockheed Martin had a return on equity of 185.10% and a net margin of 10.21%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.99 earnings per share.

Several analysts have issued reports on LMT shares. UBS Group cut their price objective on Lockheed Martin from $482.00 to $475.00 and set a “buy” rating on the stock in a research note on Thursday, June 11th. Credit Suisse Group dropped their price target on Lockheed Martin from $435.00 to $433.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 22nd. Argus dropped their price target on Lockheed Martin from $475.00 to $425.00 and set a “buy” rating on the stock in a research report on Wednesday, April 22nd. They noted that the move was a valuation call. ValuEngine lowered Lockheed Martin from a “hold” rating to a “sell” rating in a report on Thursday. Finally, JPMorgan Chase & Co. increased their price target on Lockheed Martin from $350.00 to $395.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. Lockheed Martin presently has an average rating of “Buy” and an average target price of $439.31.

Shares of NYSE LMT traded up $1.46 on Friday, hitting $361.89. The company had a trading volume of 1,109,641 shares, compared to its average volume of 1,693,295. The firm has a market capitalization of $101.07 billion, a P/E ratio of 16.43, a PEG ratio of 2.19 and a beta of 0.95. Lockheed Martin has a 12-month low of $266.11 and a 12-month high of $442.53. The company has a quick ratio of 1.00, a current ratio of 1.23 and a debt-to-equity ratio of 3.28. The business has a 50 day moving average of $378.55 and a two-hundred day moving average of $386.33.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Tuesday, September 1st will be given a $2.40 dividend. This represents a $9.60 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Monday, August 31st. Lockheed Martin’s dividend payout ratio is currently 43.74%.

Large investors have recently modified their holdings of the company. Capital International Investors grew its position in Lockheed Martin by 18.6% during the fourth quarter. Capital International Investors now owns 2,230,612 shares of the aerospace company’s stock worth $868,556,000 after buying an additional 350,205 shares in the last quarter. GQG Partners LLC grew its position in Lockheed Martin by 68.2% during the fourth quarter. GQG Partners LLC now owns 630,783 shares of the aerospace company’s stock worth $245,737,000 after buying an additional 255,687 shares in the last quarter. Capital World Investors grew its position in Lockheed Martin by 1.5% during the first quarter. Capital World Investors now owns 17,207,412 shares of the aerospace company’s stock worth $5,832,471,000 after buying an additional 252,054 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Lockheed Martin by 444.0% during the fourth quarter. Renaissance Technologies LLC now owns 239,300 shares of the aerospace company’s stock worth $93,179,000 after purchasing an additional 195,309 shares during the period. Finally, NorthRock Partners LLC lifted its stake in Lockheed Martin by 9,334.9% during the fourth quarter. NorthRock Partners LLC now owns 149,260 shares of the aerospace company’s stock worth $709,000 after purchasing an additional 147,678 shares during the period. 82.00% of the stock is currently owned by institutional investors.

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. It operates through four segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS), and Space.

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Earnings History and Estimates for Lockheed Martin (NYSE:LMT)

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