Zacks reiterated their neutral rating on shares of Lockheed Martin Corp. (NYSE:LMT) in a research report sent to investors on Wednesday morning, Analyst Ratings News reports. The firm currently has a $137.00 price target on the stock.
Zacks’ analyst wrote, “Lockheed Martin Corp. posted strong third quarter results with top line and bottom line above the Zacks Consensus Estimate. Though revenue declined year over year, earnings per share surged almost 16.3%. The results reflect company’s strong operational performance. Also, the company continued to grow its backlog and generate strong cash from operations while maintaining its cash deployment strategy. Despite the uncertainty plaguing the industry, the company has been able to generate $15 billion in orders. We expect Lockheed Martin to register a stable performance in the long run due to a leveraged presence in the Army, Air Force, Navy and IT programs. Also, shareholder return will continue to be shored up by the company’s focus on debt repayment, its ongoing share repurchase program and the incremental dividend. However, a large percentage of its business comes from the U.S. government, so cuts in defense spending could limit the results of its operating segments. Currently, we maintain our Neutral recommendation on the stock. “
Lockheed Martin Corp. (NYSE:LMT) traded up 0.68% during mid-day trading on Wednesday, hitting $133.52. The stock had a trading volume of 1,156,584 shares. Lockheed Martin Corp. has a 52-week low of $85.88 and a 52-week high of $127.39. The stock’s 50-day moving average is $123.4 and its 200-day moving average is $107.0. The company has a market cap of $42.593 billion and a P/E ratio of 14.87.
Lockheed Martin Corp. (NYSE:LMT) last released its earnings data on Tuesday, October 22nd. The company reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.31. The company had revenue of $11.90 billion for the quarter, compared to the consensus estimate of $11.15 billion. During the same quarter in the prior year, the company posted $2.21 earnings per share. The company’s quarterly revenue was down 4.4% on a year-over-year basis.
The company also recently declared a quarterly dividend, which is scheduled for Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a dividend of $1.33 per share. This represents a $5.32 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend is Wednesday, November 27th. This is a positive change from Lockheed Martin Corp.’s previous quarterly dividend of $1.15.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank reiterated a hold rating on shares of Lockheed Martin Corp. in a research note to investors on Wednesday. They now have a $122.00 price target on the stock. Separately, analysts at FBR Capital Markets raised their price target on shares of Lockheed Martin Corp. from $130.00 to $140.00 in a research note to investors on Wednesday. They now have an outperform rating on the stock. Finally, analysts at RBC Capital reiterated a hold rating on shares of Lockheed Martin Corp. in a research note to investors on Wednesday, October 9th. They now have a $133.00 price target on the stock. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $127.21.
Lockheed Martin Corporation, incorporated on August 29, 1994, is a global security and aerospace company principally engaged in the research, design, development, manufacture, integration, and sustainment of technology systems and products.
To view Zacks’ full report, visit www.zacks.com
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