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

Wall Street brokerages expect Lockheed Martin Co. (NYSE:LMT) to post earnings per share of $8.04 for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Lockheed Martin’s earnings, with estimates ranging from $7.16 to $11.88. Lockheed Martin reported earnings of $6.38 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 26%. The company is scheduled to announce its next quarterly earnings report on Tuesday, January 25th.

According to Zacks, analysts expect that Lockheed Martin will report full-year earnings of $23.37 per share for the current fiscal year, with EPS estimates ranging from $22.45 to $27.17. For the next year, analysts forecast that the business will report earnings of $26.57 per share, with EPS estimates ranging from $25.64 to $28.07. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Lockheed Martin.

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

A number of equities analysts recently issued reports on the stock. UBS Group dropped their price target on shares of Lockheed Martin from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Wednesday, October 27th. Bank of America cut shares of Lockheed Martin from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $440.00 to $375.00 in a research note on Monday, November 1st. Robert W. Baird dropped their price target on shares of Lockheed Martin from $394.00 to $376.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 27th. Morgan Stanley decreased their target price on Lockheed Martin from $458.00 to $430.00 and set an “overweight” rating for the company in a research report on Thursday, November 4th. Finally, Cowen lowered Lockheed Martin from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $400.00 to $375.00 in a research report on Wednesday, September 29th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Lockheed Martin currently has an average rating of “Hold” and a consensus target price of $380.40.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Mercantile Trust Co. increased its position in shares of Lockheed Martin by 13.7% during the 3rd quarter. First Mercantile Trust Co. now owns 5,582 shares of the aerospace company’s stock valued at $1,926,000 after purchasing an additional 674 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in shares of Lockheed Martin by 10.6% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 2,409 shares of the aerospace company’s stock valued at $831,000 after purchasing an additional 231 shares during the last quarter. Mcdonald Partners LLC increased its position in shares of Lockheed Martin by 9.2% during the 3rd quarter. Mcdonald Partners LLC now owns 4,666 shares of the aerospace company’s stock valued at $1,610,000 after purchasing an additional 392 shares during the last quarter. Fortis Advisors LLC purchased a new stake in shares of Lockheed Martin during the 3rd quarter valued at about $60,000. Finally, EP Wealth Advisors LLC increased its position in shares of Lockheed Martin by 5.0% during the 3rd quarter. EP Wealth Advisors LLC now owns 4,498 shares of the aerospace company’s stock valued at $1,552,000 after purchasing an additional 216 shares during the last quarter. 74.43% of the stock is owned by hedge funds and other institutional investors.

Lockheed Martin stock traded down $1.60 during mid-day trading on Thursday, reaching $343.58. The stock had a trading volume of 1,134,598 shares, compared to its average volume of 1,493,775. The company has a market capitalization of $94.75 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 3.37 and a beta of 0.94. The company has a 50-day moving average price of $347.00 and a two-hundred day moving average price of $364.29. Lockheed Martin has a one year low of $319.81 and a one year high of $396.99. 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 announced that its board has approved a stock buyback plan on Thursday, September 23rd that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the aerospace company to buy up to 5.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

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

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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