Equities analysts expect Lockheed Martin Corporation (NYSE:LMT) to report sales of $14.75 billion for the current quarter, Zacks reports. Five analysts have made estimates for Lockheed Martin’s earnings, with estimates ranging from $14.50 billion to $14.95 billion. Lockheed Martin posted sales of $13.75 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 7.3%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, January 23rd.
On average, analysts expect that Lockheed Martin will report full-year sales of $14.75 billion for the current fiscal year, with estimates ranging from $50.41 billion to $50.86 billion. For the next fiscal year, analysts forecast that the company will post sales of $50.93 billion per share, with estimates ranging from $49.97 billion to $51.53 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Lockheed Martin.
Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, October 24th. The aerospace company reported $3.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.26 by ($0.02). Lockheed Martin had a return on equity of 221.41% and a net margin of 7.31%. The firm had revenue of $12.17 billion during the quarter, compared to the consensus estimate of $12.83 billion. During the same period in the previous year, the company posted $3.61 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis.
A number of equities research analysts have issued reports on LMT shares. Credit Suisse Group reaffirmed a “neutral” rating and issued a $308.00 price objective (up from $300.00) on shares of Lockheed Martin in a research report on Wednesday, October 25th. Stifel Nicolaus upped their price objective on shares of Lockheed Martin from $320.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, October 25th. Cowen reaffirmed a “hold” rating and issued a $320.00 price objective on shares of Lockheed Martin in a research report on Wednesday, October 25th. Vetr raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $326.32 price objective for the company in a research report on Tuesday, September 12th. Finally, Zacks Investment Research downgraded shares of Lockheed Martin from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $321.90.
Shares of Lockheed Martin (LMT) traded down $0.28 during mid-day trading on Wednesday, reaching $315.89. 1,082,300 shares of the company’s stock were exchanged, compared to its average volume of 1,031,885. Lockheed Martin has a twelve month low of $247.01 and a twelve month high of $322.19. The company has a quick ratio of 0.95, a current ratio of 1.32 and a debt-to-equity ratio of 6.56. The company has a market cap of $90,656.77, a P/E ratio of 24.86, a price-to-earnings-growth ratio of 3.01 and a beta of 0.58.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be paid a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 2.53%. This is a boost from Lockheed Martin’s previous quarterly dividend of $1.82. The ex-dividend date is Saturday, September 30th. Lockheed Martin’s payout ratio is presently 64.36%.
Lockheed Martin declared that its board has authorized a share buyback plan on Thursday, September 28th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to repurchase up to 2.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
In other Lockheed Martin news, insider Dale P. Bennett sold 2,000 shares of the business’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $313.75, for a total value of $627,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Daniel F. Akerson bought 2,500 shares of the company’s stock in a transaction on Wednesday, October 25th. The stock was bought at an average price of $312.02 per share, for a total transaction of $780,050.00. Following the completion of the purchase, the director now owns 7,432 shares of the company’s stock, valued at $2,318,932.64. The disclosure for this purchase can be found here. 0.39% of the stock is owned by insiders.
A hedge fund recently bought a new stake in Lockheed Martin stock. Buckingham Capital Management Inc. purchased a new stake in shares of Lockheed Martin Corporation (NYSE:LMT) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 670 shares of the aerospace company’s stock, valued at approximately $208,000. Hedge funds and other institutional investors own 78.94% of the company’s stock.
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About Lockheed Martin
Lockheed Martin Corporation is a security and aerospace company. The Company operates through four segments. Aeronautics segment is engaged in the research, design, development, manufacture, integration, sustainment, support and upgrade of military aircraft, including combat and air mobility aircraft, unmanned air vehicles and related technologies.
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