Lockheed Martin Corporation (LMT) Expected to Post Earnings of $4.06 Per Share

Equities research analysts expect Lockheed Martin Corporation (NYSE:LMT) to post earnings per share (EPS) of $4.06 for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Lockheed Martin’s earnings. The lowest EPS estimate is $3.93 and the highest is $4.17. Lockheed Martin posted earnings of $3.25 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 24.9%. The business is expected to report its next quarterly earnings results on Tuesday, January 23rd.

On average, analysts expect that Lockheed Martin will report full-year earnings of $13.12 per share for the current fiscal year, with EPS estimates ranging from $12.90 to $13.25. For the next fiscal year, analysts forecast that the firm will post earnings of $13.36 per share, with EPS estimates ranging from $12.90 to $14.00. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Lockheed Martin.

Lockheed Martin (NYSE:LMT) last announced its quarterly earnings results on Tuesday, October 24th. The aerospace company reported $3.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.26 by ($0.02). Lockheed Martin had a net margin of 7.31% and a return on equity of 221.41%. The business had revenue of $12.17 billion for the quarter, compared to analysts’ expectations of $12.83 billion. During the same quarter in the prior year, the firm earned $3.61 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis.

A number of brokerages recently issued reports on LMT. Zacks Investment Research upgraded Lockheed Martin from a “sell” rating to a “hold” rating in a report on Wednesday, October 25th. Credit Suisse Group reiterated a “neutral” rating and set a $308.00 target price (up previously from $300.00) on shares of Lockheed Martin in a report on Wednesday, October 25th. Royal Bank Of Canada reduced their target price on Lockheed Martin from $327.00 to $316.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 25th. Stifel Nicolaus upped their target price on Lockheed Martin from $320.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Finally, Cowen reiterated a “hold” rating and set a $320.00 target price on shares of Lockheed Martin in a report on Wednesday, October 25th. Six equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $321.90.

Lockheed Martin (LMT) opened at $315.85 on Monday. Lockheed Martin has a twelve month low of $245.50 and a twelve month high of $322.19. The stock has a market capitalization of $90,560.00, a PE ratio of 24.83, a P/E/G ratio of 3.01 and a beta of 0.58. The company has a current ratio of 1.32, a quick ratio of 0.95 and a debt-to-equity ratio of 6.56.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 1st will be paid a $2.00 dividend. The ex-dividend date of this dividend is Saturday, September 30th. This represents a $8.00 annualized dividend and a dividend yield of 2.53%. This is an increase from Lockheed Martin’s previous quarterly dividend of $1.82. Lockheed Martin’s dividend payout ratio is presently 64.88%.

Lockheed Martin announced that its board has authorized a stock repurchase program on Thursday, September 28th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the aerospace company to reacquire up to 2.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

In related news, Director Daniel F. Akerson purchased 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 25th. The shares were bought at an average price of $312.02 per share, for a total transaction of $780,050.00. Following the purchase, the director now directly owns 7,432 shares of the company’s stock, valued at approximately $2,318,932.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dale P. Bennett sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $313.75, for a total value of $627,500.00. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.

A hedge fund recently bought a new stake in Lockheed Martin stock. Buckingham Capital Management Inc. purchased a new stake in shares of Lockheed Martin Corporation (NYSE:LMT) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 670 shares of the aerospace company’s stock, valued at approximately $208,000. Hedge funds and other institutional investors own 78.94% of the company’s stock.

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About Lockheed Martin

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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