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

Lockheed Martin (NYSE:LMT) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 25.650-26.350 for the period, compared to the consensus earnings per share 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.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LMT. Citigroup dropped their target price on shares of Lockheed Martin from $540.00 to $508.00 and set a buy rating for the company in a report on Wednesday, January 24th. The Goldman Sachs Group dropped their target price on shares of Lockheed Martin from $380.00 to $377.00 and set a sell rating for the company in a report on Tuesday. Deutsche Bank Aktiengesellschaft increased their target price on shares of Lockheed Martin from $438.00 to $472.00 in a report on Monday, January 22nd. JPMorgan Chase & Co. raised shares of Lockheed Martin from a neutral rating to an overweight rating and increased their target price for the company from $475.00 to $518.00 in a report on Monday, April 15th. Finally, Morgan Stanley dropped their target price on shares of Lockheed Martin from $513.00 to $503.00 and set an equal weight rating for the company in a report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $475.80.

Lockheed Martin Price Performance

Shares of LMT stock traded up $4.40 during trading hours on Tuesday, hitting $465.73. The company’s stock had a trading volume of 895,307 shares, compared to its average volume of 1,164,909. The business has a fifty day moving average of $440.67 and a 200-day moving average of $443.62. The stock has a market cap of $112.00 billion, a price-to-earnings ratio of 16.96, a P/E/G ratio of 4.23 and a beta of 0.48. Lockheed Martin has a twelve month low of $393.77 and a twelve month high of $483.53. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 2.53.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, January 23rd. The aerospace company reported $7.90 EPS for the quarter, beating the consensus estimate of $7.26 by $0.64. The business had revenue of $18.87 billion for the quarter, compared to analyst estimates of $17.96 billion. Lockheed Martin had a net margin of 10.24% and a return on equity of 79.91%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the business earned $7.79 earnings per share. As a group, equities research analysts anticipate that Lockheed Martin will post 26.13 EPS for the current year.

Insiders Place Their Bets

In other Lockheed Martin news, SVP Maryanne Lavan sold 4,022 shares of Lockheed Martin stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total value of $1,747,116.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Lockheed Martin news, COO John Frank A. St sold 6,648 shares of Lockheed Martin stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $425.35, for a total value of $2,827,726.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maryanne Lavan sold 4,022 shares of Lockheed Martin stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $434.39, for a total transaction of $1,747,116.58. The disclosure for this sale can be found here. In the last three months, insiders sold 16,874 shares of company stock valued at $7,249,946. Company insiders own 0.14% of the company’s stock.

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.