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 EPS guidance of $26.65 for the period, compared to the consensus EPS 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

A number of equities research analysts have commented on LMT shares. Robert W. Baird raised their price objective on Lockheed Martin from $519.00 to $626.00 in a research note on Tuesday. Susquehanna decreased their price target on shares of Lockheed Martin from $705.00 to $695.00 and set a “positive” rating for the company in a research note on Wednesday. TD Cowen upped their price objective on shares of Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday. Melius Research upgraded shares of Lockheed Martin to a “strong-buy” rating in a report on Tuesday, September 3rd. Finally, Bank of America restated a “buy” rating and issued a $635.00 target price on shares of Lockheed Martin in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Lockheed Martin presently has an average rating of “Moderate Buy” and a consensus price target of $606.71.

Lockheed Martin Price Performance

Shares of Lockheed Martin stock traded up $1.96 on Thursday, hitting $573.06. 174,959 shares of the company traded hands, compared to its average volume of 1,050,401. The firm’s 50-day simple moving average is $579.95 and its 200 day simple moving average is $513.50. Lockheed Martin has a 12-month low of $413.92 and a 12-month high of $618.95. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The company has a market cap of $137.50 billion, a P/E ratio of 20.90, a P/E/G ratio of 4.84 and a beta of 0.47.

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

Lockheed Martin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 2nd will be paid a $3.30 dividend. This is a boost from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 dividend on an annualized basis and a dividend yield of 2.30%. Lockheed Martin’s dividend payout ratio is 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.