Lockheed Martin Co. (NYSE:LMT) Expected to Post Earnings of $8.04 Per Share

Wall Street analysts predict that Lockheed Martin Co. (NYSE:LMT) will report earnings per share (EPS) of $8.04 for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Lockheed Martin’s earnings. The highest EPS estimate is $11.88 and the lowest is $7.16. Lockheed Martin posted earnings of $6.38 per share during the same quarter last year, which suggests a positive year over year growth rate of 26%. The company is expected to announce its next quarterly earnings results on Tuesday, January 25th.

On average, analysts expect that Lockheed Martin will report full-year earnings of $23.37 per share for the current financial year, with EPS estimates ranging from $22.45 to $27.17. For the next financial year, analysts forecast that the business will post earnings of $26.57 per share, with EPS estimates ranging from $25.64 to $28.07. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow Lockheed Martin.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Monday, October 25th. The aerospace company reported $2.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.24. The company had revenue of $16.03 billion during the quarter, compared to the consensus estimate of $17.12 billion. Lockheed Martin had a net margin of 9.13% and a return on equity of 104.60%. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.25 earnings per share.

LMT has been the subject of several analyst reports. Wells Fargo & Company lowered their target price on shares of Lockheed Martin from $385.00 to $340.00 and set an “equal weight” rating for the company in a report on Wednesday, October 27th. UBS Group lowered their target price on shares of Lockheed Martin from $425.00 to $375.00 and set a “buy” rating for the company in a report on Wednesday, October 27th. Bank of America downgraded shares of Lockheed Martin from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $440.00 to $375.00 in a report on Monday, November 1st. Cowen downgraded shares of Lockheed Martin from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $400.00 to $375.00 in a report on Wednesday, September 29th. Finally, Jefferies Financial Group restated a “neutral” rating on shares of Lockheed Martin in a report on Friday, September 10th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $380.40.

Shares of LMT stock traded down $1.60 on Thursday, hitting $343.58. The stock had a trading volume of 1,134,598 shares, compared to its average volume of 1,493,775. The business has a 50 day moving average of $347.00 and a 200 day moving average of $364.29. The stock has a market cap of $94.75 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 3.37 and a beta of 0.94. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.42 and a quick ratio of 1.23. Lockheed Martin has a 12-month low of $319.81 and a 12-month high of $396.99.

Lockheed Martin declared that its board has approved a stock repurchase program on Thursday, September 23rd that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the aerospace company to purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 27th. Shareholders of record on Wednesday, December 1st will be paid a dividend of $2.80 per share. The ex-dividend date is Tuesday, November 30th. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.60. This represents a $11.20 annualized dividend and a dividend yield of 3.26%. Lockheed Martin’s dividend payout ratio (DPR) is 47.99%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Clean Yield Group purchased a new position in shares of Lockheed Martin in the second quarter worth $25,000. Itau Unibanco Holding S.A. purchased a new position in Lockheed Martin during the 2nd quarter valued at $33,000. Capital Directions Investment Advisors LLC increased its position in Lockheed Martin by 104.0% during the 3rd quarter. Capital Directions Investment Advisors LLC now owns 102 shares of the aerospace company’s stock valued at $35,000 after purchasing an additional 52 shares during the period. Ten Capital Wealth Advisors LLC purchased a new position in Lockheed Martin during the 3rd quarter valued at $35,000. Finally, Sierra Capital LLC purchased a new position in Lockheed Martin during the 1st quarter valued at $36,000. 74.43% of the stock is currently owned by institutional investors.

Lockheed Martin Company Profile

Lockheed Martin Corp. operates as a global security and aerospace company, which engages in the research, design, development, manufacture, integration, and sustainment of technology systems, products, and services. It operates through the following business segments: Aeronautics, Missiles and Fire Control (MFC), Rotary and Mission Systems (RMS) and Space.

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Earnings History and Estimates for Lockheed Martin (NYSE:LMT)

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