Lockheed Martin (NYSE:LMT) Issues FY24 Earnings Guidance

Lockheed Martin (NYSE:LMT) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $26.10-26.60 for the period, compared to the consensus EPS estimate of $26.28. The company issued revenue guidance of $70.5-71.5 billion, compared to the consensus revenue estimate of $69.84 billion. Lockheed Martin also updated its FY 2024 guidance to 26.100-26.600 EPS.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LMT. The Goldman Sachs Group dropped their target price on shares of Lockheed Martin from $380.00 to $377.00 and set a sell rating for the company in a report on Tuesday, April 23rd. UBS Group upped their target price on shares of Lockheed Martin from $482.00 to $499.00 and gave the stock a neutral rating in a report on Wednesday, April 24th. Wells Fargo & Company upped their target price on shares of Lockheed Martin from $460.00 to $480.00 and gave the stock an equal weight rating in a report on Thursday, April 25th. StockNews.com raised shares of Lockheed Martin from a buy rating to a strong-buy rating in a report on Thursday, April 25th. Finally, Citigroup increased their price objective on shares of Lockheed Martin from $508.00 to $525.00 and gave the company a buy rating in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $485.40.

Lockheed Martin Stock Up 2.6 %

Shares of NYSE LMT opened at $487.00 on Tuesday. The firm’s 50-day moving average price is $465.59 and its 200-day moving average price is $452.22. The company has a current ratio of 1.30, a quick ratio of 1.11 and a debt-to-equity ratio of 2.89. The stock has a market capitalization of $116.85 billion, a price-to-earnings ratio of 17.37, a P/E/G ratio of 4.48 and a beta of 0.46. Lockheed Martin has a 12-month low of $393.77 and a 12-month high of $487.00.

Lockheed Martin (NYSE:LMT) last announced its earnings results on Tuesday, April 23rd. The aerospace company reported $6.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.80 by $0.53. The firm had revenue of $17.20 billion for the quarter, compared to analysts’ expectations of $16.04 billion. Lockheed Martin had a net margin of 9.73% and a return on equity of 85.96%. The business’s revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the company earned $6.43 EPS. On average, equities research analysts anticipate that Lockheed Martin will post 26.1 EPS for the current fiscal year.

Lockheed Martin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Tuesday, September 3rd will be given a $3.15 dividend. This represents a $12.60 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Tuesday, September 3rd. Lockheed Martin’s dividend payout ratio (DPR) is currently 46.10%.

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.