Lockheed Martin Corp. Given Neutral Rating at Zacks (LMT)
Lockheed Martin Corp. (NYSE:LMT)‘s stock had its “neutral” rating restated by Zacks in a note issued to investors on Wednesday, American Banking & Market News reports. They currently have a $137.00 price target on the stock. Zacks‘ target price suggests a potential upside of 5.34% from the stock’s previous close.
Zacks‘ analyst wrote, “Lockheed Martin Corp. posted strong third quarter results with top line and bottom line above the Zacks Consensus Estimate. Though revenue declined year over year, earnings per share surged almost 16.3%. The results reflect company’s strong operational performance. Also, the company continued to grow its backlog and generate strong cash from operations while maintaining its cash deployment strategy. Despite the uncertainty plaguing the industry, the company has been able to generate $15 billion in orders. We expect Lockheed Martin to register a stable performance in the long run due to a leveraged presence in the Army, Air Force, Navy and IT programs. Also, shareholder return will continue to be shored up by the company’s focus on debt repayment, its ongoing share repurchase program and the incremental dividend. However, a large percentage of its business comes from the U.S. government, so cuts in defense spending could limit the results of its operating segments. Currently, we maintain our Neutral recommendation on the stock. “
Lockheed Martin Corp. (NYSE:LMT) traded up 0.47% on Wednesday, hitting $130.66. 961,915 shares of the company’s stock traded hands. Lockheed Martin Corp. has a one year low of $85.88 and a one year high of $127.39. The stock’s 50-day moving average is $123.4 and its 200-day moving average is $107.0. The company has a market cap of $41.681 billion and a P/E ratio of 14.59.
Lockheed Martin Corp. (NYSE:LMT) last released its earnings data on Tuesday, October 22nd. The company reported $2.57 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.26 by $0.31. The company had revenue of $11.90 billion for the quarter, compared to the consensus estimate of $11.15 billion. During the same quarter in the prior year, the company posted $2.21 earnings per share. The company’s quarterly revenue was down 4.4% on a year-over-year basis. On average, analysts predict that Lockheed Martin Corp. will post $9.50 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, December 27th. Investors of record on Monday, December 2nd will be given a dividend of $1.33 per share. This represents a $5.32 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend is Wednesday, November 27th. This is an increase from Lockheed Martin Corp.’s previous quarterly dividend of $1.15.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Lockheed Martin Corp. in a research note to investors on Wednesday. They now have a $122.00 price target on the stock. Separately, analysts at FBR Capital Markets raised their price target on shares of Lockheed Martin Corp. from $130.00 to $140.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Finally, analysts at RBC Capital reiterated a “hold” rating on shares of Lockheed Martin Corp. in a research note to investors on Wednesday, October 9th. They now have a $133.00 price target on the stock. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $124.21.
Lockheed Martin Corporation, incorporated on August 29, 1994, is a global security and aerospace company principally engaged in the research, design, development, manufacture, integration, and sustainment of technology systems and products.
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