Lockheed Martin (NYSE:LMT) Releases FY24 Earnings Guidance

Lockheed Martin (NYSE:LMT) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $26.65 for the period, compared to the consensus estimate of $26.53. The company issued revenue guidance of approx $71.25 billion, compared to the consensus revenue estimate of $71.23 billion. Lockheed Martin also updated its FY 2024 guidance to 26.650-26.650 EPS.

Analyst Ratings Changes

Several brokerages recently commented on LMT. Melius raised shares of Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price objective for the company in a research note on Tuesday, September 3rd. Susquehanna cut their price objective on Lockheed Martin from $705.00 to $695.00 and set a “positive” rating on the stock in a report on Wednesday. Robert W. Baird boosted their price objective on Lockheed Martin from $519.00 to $626.00 in a research report on Tuesday. TD Cowen increased their target price on Lockheed Martin from $560.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. boosted their price target on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $606.71.

Lockheed Martin Trading Up 0.3 %

Shares of NYSE:LMT traded up $1.96 during trading on Thursday, reaching $573.06. The stock had a trading volume of 174,959 shares, compared to its average volume of 1,050,401. Lockheed Martin has a 52 week low of $413.92 and a 52 week high of $618.95. The company has a debt-to-equity ratio of 3.10, a quick ratio of 1.07 and a current ratio of 1.24. The firm’s fifty day moving average is $579.95 and its 200 day moving average is $513.50. The stock has a market cap of $137.50 billion, a price-to-earnings ratio of 20.90, a P/E/G ratio of 4.84 and a beta of 0.47.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings results on Tuesday, October 22nd. The aerospace company reported $6.84 EPS for the quarter, beating analysts’ consensus estimates of $6.50 by $0.34. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The business had revenue of $17.10 billion for the quarter, compared to analysts’ expectations of $17.38 billion. During the same quarter in the prior year, the firm posted $6.77 earnings per share. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, equities analysts forecast that Lockheed Martin will post 26.68 EPS for the current fiscal year.

Lockheed Martin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be paid a dividend of $3.30 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.30%. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. Lockheed Martin’s dividend payout ratio (DPR) is currently 48.30%.

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.