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Lockheed Martin (LMT) Gains But Lags Market: What You Should Know
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Lockheed Martin (LMT - Free Report) closed the latest trading day at $611.81, indicating a +0.36% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.4% for the day. Elsewhere, the Dow saw an upswing of 0.09%, while the tech-heavy Nasdaq appreciated by 0.63%.
Heading into today, shares of the aerospace and defense company had gained 7.86% over the past month, outpacing the Aerospace sector's loss of 1.22% and the S&P 500's gain of 3.76% in that time.
Investors will be eagerly watching for the performance of Lockheed Martin in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 22, 2024. The company's upcoming EPS is projected at $6.47, signifying a 4.43% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $17.28 billion, up 2.36% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $26.47 per share and revenue of $71.06 billion, which would represent changes of -4.85% and +5.16%, respectively, from the prior 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.05% upward. Right now, Lockheed Martin possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Lockheed Martin is currently being traded at a Forward P/E ratio of 23.03. This indicates a premium in contrast to its industry's Forward P/E of 20.99.
Meanwhile, LMT's PEG ratio is currently 4.91. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Aerospace - Defense industry stood at 2.16 at the close of the market yesterday.
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 63, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Lockheed Martin (LMT) Gains But Lags Market: What You Should Know
Lockheed Martin (LMT - Free Report) closed the latest trading day at $611.81, indicating a +0.36% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.4% for the day. Elsewhere, the Dow saw an upswing of 0.09%, while the tech-heavy Nasdaq appreciated by 0.63%.
Heading into today, shares of the aerospace and defense company had gained 7.86% over the past month, outpacing the Aerospace sector's loss of 1.22% and the S&P 500's gain of 3.76% in that time.
Investors will be eagerly watching for the performance of Lockheed Martin in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 22, 2024. The company's upcoming EPS is projected at $6.47, signifying a 4.43% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $17.28 billion, up 2.36% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $26.47 per share and revenue of $71.06 billion, which would represent changes of -4.85% and +5.16%, respectively, from the prior 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.05% upward. Right now, Lockheed Martin possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Lockheed Martin is currently being traded at a Forward P/E ratio of 23.03. This indicates a premium in contrast to its industry's Forward P/E of 20.99.
Meanwhile, LMT's PEG ratio is currently 4.91. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Aerospace - Defense industry stood at 2.16 at the close of the market yesterday.
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 63, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.