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

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on LMT shares. Morgan Stanley cut 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 research note on Wednesday, January 24th. UBS Group reduced their price objective on Lockheed Martin from $488.00 to $475.00 and set a neutral rating for the company in a report on Wednesday, January 24th. Royal Bank of Canada lowered their target price on Lockheed Martin from $475.00 to $470.00 and set a sector perform rating on the stock in a research note on Wednesday, January 24th. Susquehanna reduced their price target on Lockheed Martin from $550.00 to $540.00 and set a positive rating for the company in a research note on Wednesday, January 24th. Finally, JPMorgan Chase & Co. upgraded Lockheed Martin from a neutral rating to an overweight rating and increased their price objective for the stock from $475.00 to $518.00 in a research report on Monday, April 15th. One equities 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 stock. According to data from MarketBeat, Lockheed Martin currently has a consensus rating of Hold and an average price target of $475.80.

Lockheed Martin Price Performance

Shares of NYSE LMT traded up $2.94 during mid-day trading on Tuesday, reaching $464.27. The company had a trading volume of 932,225 shares, compared to its average volume of 1,165,551. The firm has a market cap of $111.65 billion, a price-to-earnings ratio of 16.96, a PEG ratio of 4.23 and a beta of 0.48. The business’s 50-day simple moving average is $440.67 and its 200 day simple moving average is $443.62. Lockheed Martin has a one year low of $393.77 and a one year high of $483.53. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.03 and a current ratio of 1.21.

Lockheed Martin (NYSE:LMT) last released its 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. Lockheed Martin had a net margin of 10.24% and a return on equity of 79.91%. The firm had revenue of $18.87 billion for the quarter, compared to analyst estimates of $17.96 billion. During the same period last year, the firm earned $7.79 EPS. The business’s quarterly revenue was down .6% compared to the same quarter last year. On average, research analysts predict that Lockheed Martin will post 26.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Maryanne Lavan sold 4,022 shares of the company’s stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Maryanne Lavan sold 4,022 shares of the firm’s 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 filing with the SEC, which is available through this hyperlink. Also, COO John Frank A. St sold 6,648 shares of the business’s stock in a transaction 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. Insiders sold 16,874 shares of company stock worth $7,249,946 over the last three months. 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.