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Lockheed Martin (LMT) Surpasses Market Returns: Some Facts Worth Knowing
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The most recent trading session ended with Lockheed Martin (LMT - Free Report) standing at $610.87, reflecting a +1.11% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a gain of 0.77% for the day. Meanwhile, the Dow gained 0.47%, and the Nasdaq, a tech-heavy index, added 0.87%.
Coming into today, shares of the aerospace and defense company had gained 6.01% in the past month. In that same time, the Aerospace sector gained 1.46%, while the S&P 500 gained 4.87%.
The investment community will be closely monitoring the performance of Lockheed Martin in its forthcoming earnings report. The company is scheduled to release its earnings on October 22, 2024. The company is expected to report EPS of $6.43, down 5.02% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $17.28 billion, up 2.37% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $26.46 per share and a revenue of $71.06 billion, signifying shifts of -4.89% and +5.16%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Lockheed Martin. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.14% increase. As of now, Lockheed Martin holds a Zacks Rank of #3 (Hold).
With respect to valuation, Lockheed Martin is currently being traded at a Forward P/E ratio of 22.83. This denotes a premium relative to the industry's average Forward P/E of 20.82.
Investors should also note that LMT has a PEG ratio of 4.87 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Aerospace - Defense industry held an average PEG ratio of 2.1.
The Aerospace - Defense industry is part of the Aerospace sector. This industry, currently bearing a Zacks Industry Rank of 32, finds itself in the top 13% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow LMT in the coming trading sessions, be sure to utilize Zacks.com.
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Lockheed Martin (LMT) Surpasses Market Returns: Some Facts Worth Knowing
The most recent trading session ended with Lockheed Martin (LMT - Free Report) standing at $610.87, reflecting a +1.11% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a gain of 0.77% for the day. Meanwhile, the Dow gained 0.47%, and the Nasdaq, a tech-heavy index, added 0.87%.
Coming into today, shares of the aerospace and defense company had gained 6.01% in the past month. In that same time, the Aerospace sector gained 1.46%, while the S&P 500 gained 4.87%.
The investment community will be closely monitoring the performance of Lockheed Martin in its forthcoming earnings report. The company is scheduled to release its earnings on October 22, 2024. The company is expected to report EPS of $6.43, down 5.02% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $17.28 billion, up 2.37% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $26.46 per share and a revenue of $71.06 billion, signifying shifts of -4.89% and +5.16%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Lockheed Martin. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.14% increase. As of now, Lockheed Martin holds a Zacks Rank of #3 (Hold).
With respect to valuation, Lockheed Martin is currently being traded at a Forward P/E ratio of 22.83. This denotes a premium relative to the industry's average Forward P/E of 20.82.
Investors should also note that LMT has a PEG ratio of 4.87 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Aerospace - Defense industry held an average PEG ratio of 2.1.
The Aerospace - Defense industry is part of the Aerospace sector. This industry, currently bearing a Zacks Industry Rank of 32, finds itself in the top 13% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow LMT in the coming trading sessions, be sure to utilize Zacks.com.