Lockheed Martin Corporation (LMT) Expected to Announce Quarterly Sales of $12.83 Billion
Equities analysts expect Lockheed Martin Corporation (NYSE:LMT) to post sales of $12.83 billion for the current quarter, according to Zacks. Five analysts have issued 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 posted sales of $11.55 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 11.1%. The business is expected to announce its next earnings results 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 year, analysts forecast that the firm will report sales of $51.79 billion per share, with estimates ranging from $50.97 billion to $52.58 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Lockheed Martin Corporation.
Lockheed Martin Corporation (NYSE:LMT) last announced its earnings results on Tuesday, July 18th. The aerospace company reported $3.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.10 by $0.13. The firm had revenue of $12.69 billion for the quarter, compared to the consensus estimate of $12.43 billion. Lockheed Martin Corporation had a return on equity of 221.92% and a net margin of 10.37%. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the business earned $3.32 EPS.
LMT has been the topic of several research reports. BidaskClub raised Lockheed Martin Corporation from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Zacks Investment Research lowered Lockheed Martin Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Stifel Nicolaus reissued a “buy” rating and set a $320.00 price target (up previously from $300.00) on shares of Lockheed Martin Corporation in a report on Wednesday, July 19th. Jefferies Group LLC reissued a “hold” rating and set a $240.00 price target on shares of Lockheed Martin Corporation in a report on Monday, June 12th. Finally, Credit Suisse Group reissued a “neutral” rating and set a $300.00 price target (up previously from $280.00) on shares of Lockheed Martin Corporation in a report on Wednesday, July 19th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $298.10.
Shares of Lockheed Martin Corporation (NYSE:LMT) opened at 302.90 on Friday. The firm’s 50-day moving average price is $299.69 and its 200 day moving average price is $280.66. Lockheed Martin Corporation has a 1-year low of $228.50 and a 1-year high of $308.48. The stock has a market cap of $87.23 billion, a P/E ratio of 17.57 and a beta of 0.59.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 1st will be issued a $1.82 dividend. This represents a $7.28 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Wednesday, August 30th. Lockheed Martin Corporation’s dividend payout ratio is presently 42.52%.
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In other Lockheed Martin Corporation news, VP Brian P. Colan sold 350 shares of Lockheed Martin Corporation stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $306.19, for a total value of $107,166.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Maryanne Lavan sold 10,000 shares of Lockheed Martin Corporation stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $290.11, for a total value of $2,901,100.00. The disclosure for this sale can be found here. Insiders sold a total of 45,220 shares of company stock worth $13,293,563 in the last ninety days. 0.39% of the stock is owned by corporate insiders.
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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