Lockheed Martin (LMT - Free Report) closed the most recent trading day at $385.02, moving -0.33% from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.81%. Elsewhere, the Dow lost 0.56%, while the tech-heavy Nasdaq lost 1.27%.
Coming into today, shares of the aerospace and defense company had gained 1.72% in the past month. In that same time, the Aerospace sector gained 4.64%, while the S&P 500 gained 5.06%.
Investors will be hoping for strength from LMT as it approaches its next earnings release. On that day, LMT is projected to report earnings of $6.09 per share, which would represent year-over-year growth of 7.6%. Meanwhile, our latest consensus estimate is calling for revenue of $16.24 billion, up 7.03% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $24.12 per share and revenue of $64.77 billion, which would represent changes of +9.89% and +8.29%, respectively, from the prior year.
Any recent changes to analyst estimates for LMT should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 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, the Zacks Consensus EPS estimate remained stagnant. LMT is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that LMT has a Forward P/E ratio of 16.02 right now. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 16.02.
It is also worth noting that LMT currently has a PEG ratio of 2.31. 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 Aerospace - Defense was holding an average PEG ratio of 2.31 at yesterday's closing price.
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 230, which puts it in the bottom 10% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.