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Lockheed Martin (LMT) Stock Slides as Market Rises: Facts to Know Before You Trade September 19, 2024
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Lockheed Martin (LMT - Free Report) closed the latest trading day at $565.18, indicating a -0.05% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 1.7%. Elsewhere, the Dow gained 1.26%, while the tech-heavy Nasdaq added 2.51%.
Prior to today's trading, shares of the aerospace and defense company had gained 2.12% over the past month. This has outpaced the Aerospace sector's gain of 0.38% and the S&P 500's gain of 1.27% in that time.
The investment community will be closely monitoring the performance of Lockheed Martin in its forthcoming earnings report. On that day, Lockheed Martin is projected to report earnings of $6.40 per share, which would represent a year-over-year decline of 5.47%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $17.45 billion, up 3.37% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $26.49 per share and a revenue of $71.14 billion, representing changes of -4.78% and +5.28%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Lockheed Martin. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Lockheed Martin is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Lockheed Martin is at present trading with a Forward P/E ratio of 21.35. This expresses a premium compared to the average Forward P/E of 20.83 of its industry.
We can also see that LMT currently has a PEG ratio of 4.57. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Aerospace - Defense stocks are, on average, holding a PEG ratio of 2.03 based on yesterday's closing prices.
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 36, putting it in the top 15% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow LMT in the coming trading sessions, be sure to utilize Zacks.com.
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Lockheed Martin (LMT - Free Report) closed the latest trading day at $565.18, indicating a -0.05% change from the previous session's end. The stock's performance was behind the S&P 500's daily gain of 1.7%. Elsewhere, the Dow gained 1.26%, while the tech-heavy Nasdaq added 2.51%.
Prior to today's trading, shares of the aerospace and defense company had gained 2.12% over the past month. This has outpaced the Aerospace sector's gain of 0.38% and the S&P 500's gain of 1.27% in that time.
The investment community will be closely monitoring the performance of Lockheed Martin in its forthcoming earnings report. On that day, Lockheed Martin is projected to report earnings of $6.40 per share, which would represent a year-over-year decline of 5.47%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $17.45 billion, up 3.37% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $26.49 per share and a revenue of $71.14 billion, representing changes of -4.78% and +5.28%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Lockheed Martin. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Lockheed Martin is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Lockheed Martin is at present trading with a Forward P/E ratio of 21.35. This expresses a premium compared to the average Forward P/E of 20.83 of its industry.
We can also see that LMT currently has a PEG ratio of 4.57. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Aerospace - Defense stocks are, on average, holding a PEG ratio of 2.03 based on yesterday's closing prices.
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 36, putting it in the top 15% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow LMT in the coming trading sessions, be sure to utilize Zacks.com.