Lockheed Martin (NYSE:LMT) Releases Quarterly Earnings Results, Beats Expectations By $0.34 EPS

Lockheed Martin (NYSE:LMT) released its earnings results on Tuesday. The aerospace company reported $6.84 EPS for the quarter, beating the consensus estimate of $6.50 by $0.34, Briefing.com reports. Lockheed Martin had a net margin of 9.48% and a return on equity of 95.03%. The firm had revenue of $17.10 billion during the quarter, compared to analysts’ expectations of $17.38 billion. During the same period in the prior year, the company earned $6.77 EPS. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. Lockheed Martin updated its FY24 guidance to $26.65 EPS and its FY 2024 guidance to 26.650-26.650 EPS.

Lockheed Martin Stock Performance

NYSE LMT opened at $564.95 on Friday. Lockheed Martin has a 1-year low of $413.92 and a 1-year high of $618.95. The company has a 50 day moving average of $579.95 and a 200-day moving average of $513.50. The company has a current ratio of 1.24, a quick ratio of 1.07 and a debt-to-equity ratio of 3.10. The firm has a market cap of $135.55 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 4.84 and a beta of 0.47.

Lockheed Martin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 2nd will be given a $3.30 dividend. The ex-dividend date is Monday, December 2nd. This is a positive change from Lockheed Martin’s previous quarterly dividend of $3.15. This represents a $13.20 dividend on an annualized basis and a yield of 2.34%. Lockheed Martin’s payout ratio is 48.30%.

Wall Street Analysts Forecast Growth

LMT has been the subject of a number of research analyst reports. StockNews.com lowered shares of Lockheed Martin from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Morgan Stanley raised their price objective on Lockheed Martin from $503.00 to $599.00 and gave the stock an “equal weight” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. lifted their price objective on Lockheed Martin from $560.00 to $630.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Royal Bank of Canada cut their target price on Lockheed Martin from $675.00 to $665.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, TD Cowen raised their target price on Lockheed Martin from $560.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $606.71.

Lockheed Martin Company Profile

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.