Analysts Expect Lockheed Martin Co. (NYSE:LMT) Will Post Quarterly Sales of $17.15 Billion

Wall Street brokerages expect that Lockheed Martin Co. (NYSE:LMT) will announce sales of $17.15 billion for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Lockheed Martin’s earnings. The lowest sales estimate is $16.96 billion and the highest is $17.25 billion. Lockheed Martin posted sales of $16.50 billion during the same quarter last year, which suggests a positive year over year growth rate of 3.9%. The company is scheduled to announce its next quarterly earnings report on Tuesday, October 19th.

On average, analysts expect that Lockheed Martin will report full year sales of $68.34 billion for the current financial year, with estimates ranging from $68.16 billion to $68.63 billion. For the next year, analysts forecast that the business will post sales of $70.64 billion, with estimates ranging from $69.76 billion to $71.23 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Lockheed Martin.

Lockheed Martin (NYSE:LMT) last released its earnings results on Sunday, July 25th. The aerospace company reported $6.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.53 by ($0.01). The firm had revenue of $17.03 billion during the quarter, compared to analyst estimates of $16.93 billion. Lockheed Martin had a net margin of 10.69% and a return on equity of 123.35%. Lockheed Martin’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.79 EPS.

A number of research analysts have weighed in on LMT shares. Wells Fargo & Company boosted their target price on shares of Lockheed Martin from $384.00 to $385.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 27th. Jefferies Financial Group reissued a “neutral” rating on shares of Lockheed Martin in a report on Friday, September 10th. The Goldman Sachs Group lowered shares of Lockheed Martin from a “buy” rating to a “neutral” rating and set a $402.00 target price on the stock. in a report on Thursday. Finally, Credit Suisse Group reissued a “neutral” rating and set a $370.20 price target (down previously from $394.00) on shares of Lockheed Martin in a research report on Tuesday, July 27th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $401.03.

A number of hedge funds have recently made changes to their positions in LMT. K.J. Harrison & Partners Inc increased its position in shares of Lockheed Martin by 1.0% in the first quarter. K.J. Harrison & Partners Inc now owns 2,780 shares of the aerospace company’s stock valued at $1,027,000 after buying an additional 27 shares in the last quarter. Marotta Asset Management lifted its stake in shares of Lockheed Martin by 3.6% in the 2nd quarter. Marotta Asset Management now owns 777 shares of the aerospace company’s stock valued at $295,000 after purchasing an additional 27 shares during the last quarter. Kovack Advisors Inc. lifted its stake in shares of Lockheed Martin by 0.6% in the 2nd quarter. Kovack Advisors Inc. now owns 4,905 shares of the aerospace company’s stock valued at $1,856,000 after purchasing an additional 27 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its holdings in shares of Lockheed Martin by 1.5% in the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 1,951 shares of the aerospace company’s stock valued at $721,000 after buying an additional 29 shares during the period. Finally, Budros Ruhlin & Roe Inc. increased its holdings in Lockheed Martin by 0.6% during the 2nd quarter. Budros Ruhlin & Roe Inc. now owns 5,045 shares of the aerospace company’s stock worth $1,909,000 after purchasing an additional 29 shares during the period. Institutional investors own 74.51% of the company’s stock.

LMT traded up $4.60 during midday trading on Friday, hitting $354.12. The company had a trading volume of 77,810 shares, compared to its average volume of 1,475,278. Lockheed Martin has a 52 week low of $319.81 and a 52 week high of $396.99. The company has a market capitalization of $98.06 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 3.23 and a beta of 0.98. The stock’s 50 day moving average price is $358.81 and its 200 day moving average price is $371.96. The company has a quick ratio of 1.15, a current ratio of 1.36 and a debt-to-equity ratio of 1.79.

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

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 27th. Investors 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 dividend on an annualized basis and a yield of 3.16%. This is an increase from Lockheed Martin’s previous quarterly dividend of $2.60. Lockheed Martin’s dividend payout ratio (DPR) is presently 41.87%.

About Lockheed Martin

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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