$12.83 Billion in Sales Expected for Lockheed Martin Corporation (LMT) This Quarter
Wall Street brokerages expect that Lockheed Martin Corporation (NYSE:LMT) will report $12.83 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Lockheed Martin Corporation’s earnings. The lowest sales estimate is $12.28 billion and the highest is $13.01 billion. Lockheed Martin Corporation reported sales of $11.55 billion during the same quarter last year, which indicates a positive year over year growth rate of 11.1%. The business is expected to announce its next earnings report on Tuesday, October 24th.
On average, analysts expect that Lockheed Martin Corporation will report full year sales of $12.83 billion for the current fiscal year, with estimates ranging from $50.44 billion to $50.71 billion. For the next financial year, analysts forecast that the business will report sales of $51.79 billion per share, with estimates ranging from $50.97 billion to $52.58 billion. Zacks’ sales averages are an average based on a survey of research analysts that follow Lockheed Martin Corporation.
Lockheed Martin Corporation (NYSE:LMT) last released its quarterly earnings results on Tuesday, July 18th. The aerospace company reported $3.23 EPS for the quarter, beating the consensus estimate of $3.10 by $0.13. The business had revenue of $12.69 billion for the quarter, compared to analyst estimates of $12.43 billion. Lockheed Martin Corporation had a net margin of 10.37% and a return on equity of 221.92%. The company’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the business earned $3.32 earnings per share.
Several research analysts have recently weighed in on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $265.00 target price on shares of Lockheed Martin Corporation in a research report on Tuesday. Cowen and Company reissued a “hold” rating and issued a $295.00 target price on shares of Lockheed Martin Corporation in a research report on Monday, August 14th. Morgan Stanley assumed coverage on shares of Lockheed Martin Corporation in a research report on Tuesday, August 8th. They issued an “overweight” rating and a $342.00 target price on the stock. Zacks Investment Research raised shares of Lockheed Martin Corporation from a “hold” rating to a “buy” rating and set a $325.00 target price on the stock in a research report on Thursday, July 27th. Finally, BidaskClub downgraded shares of Lockheed Martin Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Ten equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Lockheed Martin Corporation currently has an average rating of “Hold” and an average target price of $292.62.
In other news, VP Brian P. Colan sold 350 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $306.19, for a total value of $107,166.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Marillyn A. Hewson sold 26,000 shares of the business’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $290.53, for a total transaction of $7,553,780.00. The disclosure for this sale can be found here. Insiders sold 45,220 shares of company stock valued at $13,293,563 over the last 90 days. 0.39% of the stock is owned by corporate insiders.
Shares of Lockheed Martin Corporation (LMT) opened at 301.88 on Tuesday. The stock has a 50 day moving average of $293.08 and a 200 day moving average of $276.85. The firm has a market capitalization of $86.94 billion, a price-to-earnings ratio of 17.52 and a beta of 0.60. Lockheed Martin Corporation has a 52-week low of $228.50 and a 52-week high of $308.48.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 1st will be given a $1.82 dividend. This represents a $7.28 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Wednesday, August 30th. Lockheed Martin Corporation’s dividend payout ratio is 42.52%.
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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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