Zacks: Brokerages Anticipate Lockheed Martin Corporation (LMT) to Post $3.27 EPS
Wall Street brokerages predict that Lockheed Martin Corporation (NYSE:LMT) will report earnings per share (EPS) of $3.27 for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Lockheed Martin Corporation’s earnings, with the lowest EPS estimate coming in at $3.17 and the highest estimate coming in at $3.35. Lockheed Martin Corporation reported earnings per share of $3.61 during the same quarter last year, which indicates a negative year over year growth rate of 9.4%. The business is expected to issue its next earnings results on Tuesday, October 24th.
According to Zacks, analysts expect that Lockheed Martin Corporation will report full year earnings of $12.63 per share for the current financial year, with EPS estimates ranging from $12.50 to $12.80. For the next financial year, analysts expect that the company will report earnings of $14.12 per share, with EPS estimates ranging from $12.90 to $14.75. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Lockheed Martin Corporation.
Lockheed Martin Corporation (NYSE:LMT) last released its earnings results on Tuesday, July 18th. The aerospace company reported $3.23 EPS for the quarter, topping the consensus estimate of $3.10 by $0.13. Lockheed Martin Corporation had a net margin of 10.37% and a return on equity of 221.92%. The firm had revenue of $12.69 billion for the quarter, compared to the consensus estimate of $12.43 billion. During the same quarter in the previous year, the firm earned $3.32 earnings per share. The company’s quarterly revenue was up 9.6% compared to the same quarter last year.
LMT has been the topic of a number of recent analyst reports. BidaskClub upgraded Lockheed Martin Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Zacks Investment Research lowered Lockheed Martin Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Stifel Nicolaus increased 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. Royal Bank Of Canada reiterated a “hold” rating and set a $263.00 target price on shares of Lockheed Martin Corporation in a research report on Tuesday, May 9th. Finally, Cowen and Company reiterated a “hold” rating and set a $265.00 target price on shares of Lockheed Martin Corporation in a research report on Tuesday, April 25th. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $291.15.
Lockheed Martin Corporation (NYSE LMT) traded down 0.74% during trading on Friday, hitting $299.20. 1,204,704 shares of the stock traded hands. The stock has a 50 day moving average price of $292.39 and a 200-day moving average price of $276.13. Lockheed Martin Corporation has a 52-week low of $228.50 and a 52-week high of $308.48. The stock has a market cap of $86.17 billion, a P/E ratio of 17.36 and a beta of 0.60.
The business also recently announced 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 dividend yield of 2.43%. The ex-dividend date is Wednesday, August 30th. Lockheed Martin Corporation’s dividend payout ratio (DPR) is presently 42.52%.
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In other Lockheed Martin Corporation news, SVP Maryanne Lavan sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $290.11, for a total value of $2,901,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Orlando D. Carvalho sold 8,870 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $307.95, for a total value of $2,731,516.50. Following the completion of the sale, the insider now directly owns 27,728 shares of the company’s stock, valued at $8,538,837.60. The disclosure for this sale can be found here. Insiders sold a total of 45,220 shares of company stock valued at $13,293,563 over the last ninety days. Corporate insiders own 0.39% of the company’s stock.
About Lockheed Martin Corporation
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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