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Lockheed Martin (LMT) Stock Sinks As Market Gains: Here's Why
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Lockheed Martin (LMT - Free Report) closed the most recent trading day at $447.90, moving -1.18% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.11%. Elsewhere, the Dow saw a downswing of 0.11%, while the tech-heavy Nasdaq appreciated by 0.23%.
Shares of the aerospace and defense company have appreciated by 4.92% over the course of the past month, outperforming the Aerospace sector's gain of 2.55% and the S&P 500's gain of 1.5%.
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 April 23, 2024. The company is predicted to post an EPS of $5.86, indicating an 8.86% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $16.04 billion, indicating a 6.02% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $26.13 per share and a revenue of $69.42 billion, signifying shifts of -6.07% and +2.74%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Lockheed Martin. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.12% lower within the past month. As of now, Lockheed Martin holds a Zacks Rank of #3 (Hold).
In the context of valuation, Lockheed Martin is at present trading with a Forward P/E ratio of 17.35. This represents a discount compared to its industry's average Forward P/E of 18.48.
We can additionally observe that LMT currently boasts a PEG ratio of 4.13. 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 was holding an average PEG ratio of 1.87 at yesterday's closing price.
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Lockheed Martin (LMT) Stock Sinks As Market Gains: Here's Why
Lockheed Martin (LMT - Free Report) closed the most recent trading day at $447.90, moving -1.18% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.11%. Elsewhere, the Dow saw a downswing of 0.11%, while the tech-heavy Nasdaq appreciated by 0.23%.
Shares of the aerospace and defense company have appreciated by 4.92% over the course of the past month, outperforming the Aerospace sector's gain of 2.55% and the S&P 500's gain of 1.5%.
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 April 23, 2024. The company is predicted to post an EPS of $5.86, indicating an 8.86% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $16.04 billion, indicating a 6.02% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $26.13 per share and a revenue of $69.42 billion, signifying shifts of -6.07% and +2.74%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Lockheed Martin. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.12% lower within the past month. As of now, Lockheed Martin holds a Zacks Rank of #3 (Hold).
In the context of valuation, Lockheed Martin is at present trading with a Forward P/E ratio of 17.35. This represents a discount compared to its industry's average Forward P/E of 18.48.
We can additionally observe that LMT currently boasts a PEG ratio of 4.13. 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 was holding an average PEG ratio of 1.87 at yesterday's closing price.
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.