$17.81 Billion in Sales Expected for Lockheed Martin Co. (NYSE:LMT) This Quarter

Equities research analysts expect Lockheed Martin Co. (NYSE:LMT) to report $17.81 billion in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Lockheed Martin’s earnings, with the lowest sales estimate coming in at $17.69 billion and the highest estimate coming in at $18.01 billion. Lockheed Martin reported sales of $17.03 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 4.6%. The company is scheduled to report its next quarterly earnings results on Tuesday, January 25th.

On average, analysts expect that Lockheed Martin will report full-year sales of $67.23 billion for the current fiscal year, with estimates ranging from $66.74 billion to $68.26 billion. For the next fiscal year, analysts expect that the company will post sales of $66.27 billion, with estimates ranging from $65.99 billion to $66.78 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Lockheed Martin.

Lockheed Martin (NYSE:LMT) last issued its quarterly earnings data 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 firm had revenue of $16.03 billion during 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 for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $6.25 earnings per share.

A number of equities research analysts have issued reports on the stock. Cowen cut shares of Lockheed Martin from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $400.00 to $375.00 in a report on Wednesday, September 29th. UBS Group decreased their price target 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. Robert W. Baird cut their price objective on shares of Lockheed Martin from $394.00 to $376.00 and set a “neutral” rating for the company in a research report on Wednesday, October 27th. Jefferies Financial Group reaffirmed a “neutral” rating on shares of Lockheed Martin in a research report on Friday, September 10th. Finally, Morgan Stanley cut their price objective on shares of Lockheed Martin from $458.00 to $430.00 and set an “overweight” rating for the company in a research report on Thursday, November 4th. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $380.40.

LMT stock traded down $1.60 during mid-day trading on Friday, reaching $343.58. 1,134,598 shares of the stock traded hands, compared to its average volume of 1,493,775. The company has a quick ratio of 1.23, a current ratio of 1.42 and a debt-to-equity ratio of 1.21. Lockheed Martin has a 52 week low of $319.81 and a 52 week high of $396.99. The business has a 50-day moving average of $347.00 and a two-hundred day moving average of $364.29. The firm has a market capitalization of $94.75 billion, a PE ratio of 15.86, a P/E/G ratio of 3.37 and a beta of 0.94.

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

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

Large investors have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in shares of Lockheed Martin by 2.0% during the third quarter. BlackRock Inc. now owns 17,286,821 shares of the aerospace company’s stock worth $5,965,680,000 after buying an additional 330,694 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Lockheed Martin by 3.3% during the third quarter. Geode Capital Management LLC now owns 4,499,508 shares of the aerospace company’s stock worth $1,549,296,000 after buying an additional 143,670 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Lockheed Martin by 9.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 4,373,099 shares of the aerospace company’s stock worth $1,654,562,000 after buying an additional 360,691 shares in the last quarter. Morgan Stanley increased its holdings in shares of Lockheed Martin by 0.7% during the second quarter. Morgan Stanley now owns 4,044,680 shares of the aerospace company’s stock worth $1,530,306,000 after buying an additional 26,557 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Lockheed Martin by 18.1% during the third quarter. Franklin Resources Inc. now owns 3,545,253 shares of the aerospace company’s stock worth $1,223,466,000 after buying an additional 543,607 shares in the last quarter. 74.43% of the stock is owned by hedge funds and other 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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