Lockheed Martin (LMT - Free Report) closed at $379.11 in the latest trading session, marking a -1.59% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.76%. At the same time, the Dow lost 1.45%, and the tech-heavy Nasdaq lost 1.99%.
Prior to today's trading, shares of the aerospace and defense company had lost 1.83% over the past month. This has lagged the Aerospace sector's loss of 1.05% and the S&P 500's gain of 1.56% in that time.
LMT will be looking to display strength as it nears its next earnings release. On that day, LMT is projected to report earnings of $6.07 per share, which would represent year-over-year growth of 7.24%. Meanwhile, our latest consensus estimate is calling for revenue of $16.24 billion, up 7.03% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $24.13 per share and revenue of $64.76 billion. These totals would mark changes of +9.93% and +8.28%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for LMT. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.02% higher. LMT currently has a Zacks Rank of #3 (Hold).
In terms of valuation, LMT is currently trading at a Forward P/E ratio of 15.97. This represents a no noticeable deviation compared to its industry's average Forward P/E of 15.97.
Investors should also note that LMT has a PEG ratio of 2.31 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Aerospace - Defense industry currently had an average PEG ratio of 2.31 as of yesterday's close.
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 228, which puts it in the bottom 11% 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.
To follow LMT in the coming trading sessions, be sure to utilize Zacks.com.