Lockheed Martin Corporation (LMT) Downgraded by Zacks Investment Research
Lockheed Martin Corporation (NYSE:LMT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
According to Zacks, “Majority of Lockheed Martin’s sales are derived from government contracts. This limits the company’s commercial exposure and almost full government dependency may prove fatal in maintaining its margins and bottom line. Moreover, its F-35 program that earns a major share of its revenue has been repeatedly criticised by President Trump, as an ‘overtly expensive’ project. This may lead to reduced demand for these fighter jets, which in turn may affect its revenue growth. Also, a comparative analysis of the company’s historical EV/EBITDA ratio, reflects a relatively gloomy picture when compared to its broader industry’s ratio. All these concerns caused Lockheed Martin to underperform the Zacks categorized Aerospace-Defense industry during the last one year. Nevertheless, being the largest defense contractor in the world, Lockheed Martin continues to be a strong cash generator.”
LMT has been the subject of several other reports. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $263.00 target price on shares of Lockheed Martin Corporation in a research report on Tuesday, May 9th. BidaskClub raised Lockheed Martin Corporation from a “hold” rating to a “buy” rating in a research report on Saturday. Stifel Nicolaus lifted their target price on Lockheed Martin Corporation from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, April 26th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $240.00 target price on shares of Lockheed Martin Corporation in a research report on Monday, June 12th. Finally, Cowen and Company reaffirmed a “hold” rating and issued a $265.00 target price on shares of Lockheed Martin Corporation in a research report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. Lockheed Martin Corporation has a consensus rating of “Hold” and an average target price of $280.39.
Lockheed Martin Corporation (NYSE:LMT) traded up 0.30% on Tuesday, reaching $286.42. 915,027 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $278.05 and a 200 day moving average price of $266.57. The firm has a market cap of $82.90 billion, a PE ratio of 16.58 and a beta of 0.60. Lockheed Martin Corporation has a one year low of $228.50 and a one year high of $287.75.
Lockheed Martin Corporation (NYSE:LMT) last issued its quarterly earnings data on Tuesday, April 25th. The aerospace company reported $3.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.24. The firm had revenue of $11.06 billion during the quarter, compared to the consensus estimate of $11.22 billion. Lockheed Martin Corporation had a return on equity of 183.15% and a net margin of 10.49%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period last year, the company earned $2.91 EPS. On average, equities analysts anticipate that Lockheed Martin Corporation will post $12.52 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 1st will be paid a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Wednesday, August 30th. Lockheed Martin Corporation’s dividend payout ratio is currently 42.30%.
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In other Lockheed Martin Corporation news, insider Richard F. Ambrose sold 9,316 shares of the business’s stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $271.11, for a total value of $2,525,660.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.39% of the stock is currently owned by insiders.
Lockheed Martin Corporation Company Profile
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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