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 $26.65 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.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LMT. Melius upgraded Lockheed Martin from a “hold” rating to a “buy” rating and set a $704.00 price target for the company in a research note on Tuesday, September 3rd. StockNews.com upgraded Lockheed Martin from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 10th. Barclays upped their price objective on shares of Lockheed Martin from $480.00 to $505.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Royal Bank of Canada lifted their target price on shares of Lockheed Martin from $600.00 to $675.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Finally, Morgan Stanley increased their price target on shares of Lockheed Martin from $503.00 to $599.00 and gave the company an “equal weight” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $599.21.

Lockheed Martin Price Performance

Shares of NYSE:LMT opened at $578.10 on Wednesday. The company has a debt-to-equity ratio of 3.10, a current ratio of 1.24 and a quick ratio of 1.07. Lockheed Martin has a 12 month low of $413.92 and a 12 month high of $618.95. The firm has a market capitalization of $138.71 billion, a P/E ratio of 21.15, a P/E/G ratio of 4.84 and a beta of 0.47. The company’s fifty day moving average price is $579.79 and its 200 day moving average price is $513.10.

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

Lockheed Martin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 2nd will be given a $3.30 dividend. This is an increase from Lockheed Martin’s previous quarterly dividend of $3.15. The ex-dividend date is Monday, December 2nd. This represents a $13.20 annualized dividend and a yield of 2.28%. 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.