Lockheed Martin (NYSE:LMT) Releases FY 2024 Earnings Guidance

Lockheed Martin (NYSE:LMT) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 25.650-26.350 for the period, compared to the consensus estimate of 24.420. The company issued revenue guidance of $68.5 billion-$70.0 billion, compared to the consensus revenue estimate of $65.2 billion. Lockheed Martin also updated its FY24 guidance to $25.65-26.35 EPS.

Lockheed Martin Price Performance

Shares of LMT traded down $3.74 during midday trading on Friday, reaching $461.04. The stock had a trading volume of 189,919 shares, compared to its average volume of 1,158,936. The company has a market capitalization of $110.62 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 4.20 and a beta of 0.48. Lockheed Martin has a 12-month low of $393.77 and a 12-month high of $479.50. The company’s 50-day moving average is $443.00 and its 200 day moving average is $444.29. The company has a current ratio of 1.30, a quick ratio of 1.03 and a debt-to-equity ratio of 2.89.

Lockheed Martin (NYSE:LMT) last released its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 EPS for the quarter, beating analysts’ consensus estimates of $5.80 by $0.53. Lockheed Martin had a return on equity of 85.96% and a net margin of 9.73%. The business had revenue of $17.20 billion during the quarter, compared to analyst estimates of $16.04 billion. During the same quarter in the prior year, the company posted $6.43 EPS. Lockheed Martin’s quarterly revenue was up 13.7% compared to the same quarter last year. On average, equities analysts predict that Lockheed Martin will post 26.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on LMT. StockNews.com upgraded Lockheed Martin from a buy rating to a strong-buy rating in a research note on Thursday. UBS Group lifted their target price on Lockheed Martin from $482.00 to $499.00 and gave the company a neutral rating in a research report on Wednesday. Wells Fargo & Company raised their price target on Lockheed Martin from $460.00 to $480.00 and gave the company an equal weight rating in a report on Thursday. Morgan Stanley reduced their target price on Lockheed Martin from $513.00 to $503.00 and set an equal weight rating on the stock in a report on Wednesday, January 24th. Finally, Susquehanna dropped their price target on Lockheed Martin from $550.00 to $540.00 and set a positive rating for the company in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $485.40.

Insider Activity

In related news, SVP Maryanne Lavan sold 4,022 shares of Lockheed Martin stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total value of $1,747,116.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO John Frank A. St sold 6,648 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $425.35, for a total value of $2,827,726.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maryanne Lavan sold 4,022 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $434.39, for a total transaction of $1,747,116.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,874 shares of company stock valued at $7,249,946. 0.17% of the stock is currently owned by company insiders.

Lockheed Martin Company Profile

Lockheed Martin Corporation, a security and aerospace company, engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services worldwide. The company operates through Aeronautics, Missiles and Fire Control, Rotary and Mission Systems, and Space segments.