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

Lockheed Martin (NYSE:LMT) updated its FY 2024 earnings guidance on Tuesday. 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.

Analysts Set New Price Targets

Several research analysts recently commented on the company. JPMorgan Chase & Co. raised Lockheed Martin from a neutral rating to an overweight rating and boosted their target price for the stock from $475.00 to $518.00 in a research note on Monday, April 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on Lockheed Martin from $438.00 to $472.00 in a research report on Monday, January 22nd. Citigroup reduced their target price on shares of Lockheed Martin from $540.00 to $508.00 and set a buy rating on the stock in a report on Wednesday, January 24th. Susquehanna lowered their price target on shares of Lockheed Martin from $550.00 to $540.00 and set a positive rating for the company in a report on Wednesday, January 24th. Finally, UBS Group decreased their price objective on shares of Lockheed Martin from $488.00 to $475.00 and set a neutral rating for the company in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $475.80.

Lockheed Martin Price Performance

Lockheed Martin stock traded up $2.94 during midday trading on Tuesday, reaching $464.27. The company’s stock had a trading volume of 932,225 shares, compared to its average volume of 1,165,551. The company has a debt-to-equity ratio of 2.53, a quick ratio of 1.03 and a current ratio of 1.21. Lockheed Martin has a fifty-two week low of $393.77 and a fifty-two week high of $483.53. The firm has a market capitalization of $111.65 billion, a PE ratio of 16.96, a P/E/G ratio of 4.23 and a beta of 0.48. The stock’s 50 day simple moving average is $440.67 and its 200 day simple moving average is $443.62.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data on Tuesday, January 23rd. The aerospace company reported $7.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.26 by $0.64. The firm had revenue of $18.87 billion during the quarter, compared to the consensus estimate of $17.96 billion. Lockheed Martin had a return on equity of 79.91% and a net margin of 10.24%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.79 EPS. On average, equities research analysts forecast that Lockheed Martin will post 26.13 earnings per share for the current year.

Insider Buying and Selling at Lockheed Martin

In related news, COO John Frank A. St sold 6,648 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $425.35, for a total value of $2,827,726.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Gregory M. Ulmer sold 6,204 shares of Lockheed Martin stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $431.19, for a total value of $2,675,102.76. Following the transaction, the insider now owns 12,604 shares in the company, valued at $5,434,718.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO John Frank A. St sold 6,648 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $425.35, for a total value of $2,827,726.80. The disclosure for this sale can be found here. In the last three months, insiders sold 16,874 shares of company stock worth $7,249,946. Insiders own 0.14% of the company’s stock.

About Lockheed Martin

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.