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Why the Market Dipped But Lockheed Martin (LMT) Gained Today
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The latest trading session saw Lockheed Martin (LMT - Free Report) ending at $476.07, denoting a +1.6% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 1.39%. On the other hand, the Dow registered a gain of 0.6%, and the technology-centric Nasdaq decreased by 2.77%.
Prior to today's trading, shares of the aerospace and defense company had gained 1.87% over the past month. This has outpaced the Aerospace sector's gain of 1.64% and lagged the S&P 500's gain of 4.43% in that time.
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 July 23, 2024. It is anticipated that the company will report an EPS of $6.44, marking a 4.31% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $17.06 billion, up 2.19% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $26.27 per share and revenue of $69.76 billion, which would represent changes of -5.57% and +3.24%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Lockheed Martin. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.05% increase. Lockheed Martin is currently a Zacks Rank #3 (Hold).
Digging into valuation, Lockheed Martin currently has a Forward P/E ratio of 17.84. This indicates a discount in contrast to its industry's Forward P/E of 18.56.
We can also see that LMT currently has a PEG ratio of 4.39. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Aerospace - Defense industry stood at 1.78 at the close of the market yesterday.
The Aerospace - Defense industry is part of the Aerospace sector. With its current Zacks Industry Rank of 102, this industry ranks in the top 41% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Why the Market Dipped But Lockheed Martin (LMT) Gained Today
The latest trading session saw Lockheed Martin (LMT - Free Report) ending at $476.07, denoting a +1.6% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 1.39%. On the other hand, the Dow registered a gain of 0.6%, and the technology-centric Nasdaq decreased by 2.77%.
Prior to today's trading, shares of the aerospace and defense company had gained 1.87% over the past month. This has outpaced the Aerospace sector's gain of 1.64% and lagged the S&P 500's gain of 4.43% in that time.
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 July 23, 2024. It is anticipated that the company will report an EPS of $6.44, marking a 4.31% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $17.06 billion, up 2.19% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $26.27 per share and revenue of $69.76 billion, which would represent changes of -5.57% and +3.24%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Lockheed Martin. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.05% increase. Lockheed Martin is currently a Zacks Rank #3 (Hold).
Digging into valuation, Lockheed Martin currently has a Forward P/E ratio of 17.84. This indicates a discount in contrast to its industry's Forward P/E of 18.56.
We can also see that LMT currently has a PEG ratio of 4.39. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Aerospace - Defense industry stood at 1.78 at the close of the market yesterday.
The Aerospace - Defense industry is part of the Aerospace sector. With its current Zacks Industry Rank of 102, this industry ranks in the top 41% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.