Lockheed Martin Corp. (LMT) Releases FY14 Earnings Guidance
Lockheed Martin Corp. (NYSE:LMT) updated its FY14 earnings guidance on Thursday. The company provided earnings per share guidance of $10.25-10.55 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $10.35, American Banking and Market News reports. The company issued revenue guidance of $44.0-45.5 billion, compared to the consensus revenue estimate of $44.29 billion.
Shares of Lockheed Martin Corp. (NYSE:LMT) opened at 156.65 on Thursday. Lockheed Martin Corp. has a 52 week low of $85.88 and a 52 week high of $157.05. The stock has a 50-day moving average of $145.6 and a 200-day moving average of $131.. The company has a market cap of $49.815 billion and a price-to-earnings ratio of 16.71.
Lockheed Martin Corp. (NYSE:LMT) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.05. The company had revenue of $11.50 billion for the quarter, compared to the consensus estimate of $11.34 billion. During the same quarter last year, the company posted $1.83 earnings per share. Lockheed Martin Corp.’s revenue was down 4.7% compared to the same quarter last year. On average, analysts predict that Lockheed Martin Corp. will post $9.55 earnings per share for the current fiscal year.
A number of research firms have recently commented on LMT. Analysts at Sterne Agee raised their price target on shares of Lockheed Martin Corp. from $135.00 to $156.00 in a research note to investors on Tuesday, January 14th. On a related note, analysts at Deutsche Bank raised their price target on shares of Lockheed Martin Corp. from $149.00 to $154.00 in a research note to investors on Tuesday, January 14th. They now have a hold rating on the stock. Finally, analysts at Merrill Lynch upgraded shares of Lockheed Martin Corp. to a buy rating in a research note to investors on Tuesday, January 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Lockheed Martin Corp. presently has an average rating of Hold and an average target price of $138.69.
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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