Lockheed Martin (NYSE:LMT) Posts Earnings Results, Beats Estimates By $0.66 EPS

Lockheed Martin (NYSE:LMT) announced its quarterly earnings data on Tuesday. The aerospace company reported $7.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66, Briefing.com reports. The company had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $17.05 billion. Lockheed Martin had a return on equity of 90.61% and a net margin of 9.48%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $6.73 EPS. Lockheed Martin updated its FY24 guidance to $26.10-26.60 EPS and its FY 2024 guidance to 26.100-26.600 EPS.

Lockheed Martin Stock Up 1.3 %

Shares of Lockheed Martin stock traded up $6.95 on Thursday, hitting $522.15. The company had a trading volume of 597,762 shares, compared to its average volume of 1,075,895. The stock has a market capitalization of $125.28 billion, a price-to-earnings ratio of 19.11, a P/E/G ratio of 4.67 and a beta of 0.46. Lockheed Martin has a 1 year low of $393.77 and a 1 year high of $526.69. The stock has a 50 day moving average of $467.28 and a 200-day moving average of $452.98. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.11 and a current ratio of 1.30.

Lockheed Martin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Tuesday, September 3rd will be paid a $3.15 dividend. This represents a $12.60 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is presently 46.10%.

Wall Street Analysts Forecast Growth

LMT has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on Lockheed Martin from $483.00 to $525.00 and gave the company an “equal weight” rating in a research note on Wednesday. TD Cowen raised Lockheed Martin from a “hold” rating to a “buy” rating and boosted their price objective for the company from $480.00 to $560.00 in a research note on Wednesday. StockNews.com raised Lockheed Martin from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 25th. Royal Bank of Canada boosted their price objective on Lockheed Martin from $470.00 to $500.00 and gave the company a “sector perform” rating in a research note on Wednesday. Finally, Citigroup upped their price target on Lockheed Martin from $508.00 to $525.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. One analyst has rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $513.45.

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.