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Lockheed Martin (LMT) Stock Sinks As Market Gains: What You Should Know
Lockheed Martin (LMT - Free Report) closed at $474.76 in the latest trading session, marking a -0.2% move from the prior day. This change lagged the S&P 500's 1.3% gain on the day. Elsewhere, the Dow gained 0.98%, while the tech-heavy Nasdaq added 7.48%.
Heading into today, shares of the aerospace and defense company had gained 0.01% over the past month, outpacing the Aerospace sector's loss of 4.27% and the S&P 500's loss of 2.95% in that time.
Wall Street will be looking for positivity from Lockheed Martin as it approaches its next earnings report date. In that report, analysts expect Lockheed Martin to post earnings of $6.18 per share. This would mark a year-over-year decline of 4.04%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.95 billion, down 0.07% from the year-ago period.
LMT's full-year Zacks Consensus Estimates are calling for earnings of $26.84 per share and revenue of $65.8 billion. These results would represent year-over-year changes of -1.43% and -0.28%, respectively.
Investors should also note any recent changes to analyst estimates for Lockheed Martin. 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. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Lockheed Martin currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Lockheed Martin has a Forward P/E ratio of 17.72 right now. This represents a premium compared to its industry's average Forward P/E of 17.17.
It is also worth noting that LMT currently has a PEG ratio of 2.59. 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. Aerospace - Defense stocks are, on average, holding a PEG ratio of 1.86 based on yesterday's closing prices.
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 98, putting it in the top 39% 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.