Lockheed Martin (NYSE:LMT) Releases FY24 Earnings Guidance

Lockheed Martin (NYSE:LMT) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $25.65-26.35 for the period, compared to the consensus estimate of $26.05. The company issued revenue guidance of $68.50-70.00 billion, compared to the consensus revenue estimate of $69.52 billion. Lockheed Martin also updated its FY 2024 guidance to 25.650-26.350 EPS.

Analyst Upgrades and Downgrades

LMT has been the topic of several analyst reports. The Goldman Sachs Group dropped their price target on shares of Lockheed Martin from $380.00 to $377.00 and set a sell rating on the stock in a research note on Tuesday. Royal Bank of Canada decreased their price objective on shares of Lockheed Martin from $475.00 to $470.00 and set a sector perform rating on the stock in a report on Wednesday, January 24th. JPMorgan Chase & Co. upgraded Lockheed Martin from a neutral rating to an overweight rating and increased their target price for the stock from $475.00 to $518.00 in a report on Monday, April 15th. Susquehanna dropped their price target on Lockheed Martin from $550.00 to $540.00 and set a positive rating for the company in a research report on Wednesday, January 24th. Finally, Morgan Stanley lowered their price target on Lockheed Martin from $513.00 to $503.00 and set an equal weight rating on the stock in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Lockheed Martin presently has a consensus rating of Hold and a consensus price target of $475.80.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock traded down $1.47 on Wednesday, reaching $458.61. The stock had a trading volume of 344,864 shares, compared to its average volume of 1,166,227. Lockheed Martin has a 1 year low of $393.77 and a 1 year high of $480.92. The company has a current ratio of 1.21, a quick ratio of 1.03 and a debt-to-equity ratio of 2.53. The business’s 50 day moving average is $441.34 and its two-hundred day moving average is $444.04. The company has a market cap of $110.29 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 4.21 and a beta of 0.48.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings data on Tuesday, April 23rd. The aerospace company reported $6.33 EPS for the quarter, beating the consensus estimate of $5.80 by $0.53. The company had revenue of $17.20 billion for the quarter, compared to the consensus estimate of $16.04 billion. Lockheed Martin had a return on equity of 79.91% and a net margin of 10.24%. Lockheed Martin’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.43 EPS. As a group, research analysts anticipate that Lockheed Martin will post 26.13 EPS for the current year.

Insiders Place Their Bets

In other news, COO John Frank A. St sold 6,648 shares of the company’s stock in a transaction 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 filing with the SEC, which can be accessed through the SEC website. In other news, SVP Maryanne Lavan sold 4,022 shares of the business’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 document filed with the SEC, which is available at the SEC website. Also, COO John Frank A. St sold 6,648 shares of the company’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 have sold a total of 16,874 shares of company stock worth $7,249,946 over the last quarter. 0.14% of the stock is owned by corporate insiders.

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.