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 26.100-26.600 for the period, compared to the consensus estimate of 26.260. The company issued revenue guidance of $70.5 billion-$71.5 billion, compared to the consensus revenue estimate of $69.8 billion. Lockheed Martin also updated its FY24 guidance to $26.10-26.60 EPS.

Lockheed Martin Stock Performance

NYSE LMT traded up $6.95 on Thursday, reaching $522.15. 597,762 shares of the company’s stock traded hands, compared to its average volume of 1,075,895. The firm has a market cap 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. The stock has a 50 day moving average price of $467.28 and a 200-day moving average price of $452.98. Lockheed Martin has a fifty-two week low of $393.77 and a fifty-two week high of $526.69. 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 (NYSE:LMT) last released its quarterly earnings data on Tuesday, July 23rd. The aerospace company reported $7.11 earnings per share for the quarter, beating analysts’ consensus estimates of $6.45 by $0.66. The company had revenue of $18.12 billion during the quarter, compared to analysts’ expectations of $17.05 billion. Lockheed Martin had a net margin of 9.48% and a return on equity of 90.61%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.73 earnings per share. Equities research analysts predict that Lockheed Martin will post 26.43 EPS for the current fiscal year.

Lockheed Martin Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have recently commented on LMT shares. The Goldman Sachs Group cut their target price on shares of Lockheed Martin from $380.00 to $377.00 and set a sell rating for the company in a research note on Tuesday, April 23rd. Wells Fargo & Company boosted their target price on shares of Lockheed Martin from $483.00 to $525.00 and gave the stock an equal weight rating in a research note on Wednesday. Citigroup upped their price objective on shares of Lockheed Martin from $508.00 to $525.00 and gave the company a buy rating in a research note on Wednesday, April 24th. UBS Group upped their price objective on shares of Lockheed Martin from $511.00 to $538.00 and gave the company a neutral rating in a research note on Wednesday. Finally, StockNews.com raised shares of Lockheed Martin from a buy rating to a strong-buy rating in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $513.45.

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.