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Lockheed Martin (LMT) Ascends While Market Falls: Some Facts to Note

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Lockheed Martin (LMT - Free Report) ended the recent trading session at $453.08, demonstrating a +0.6% swing from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 1.2%. Meanwhile, the Dow experienced a drop of 0.65%, and the technology-dominated Nasdaq saw a decrease of 1.79%.

Coming into today, shares of the aerospace and defense company had gained 3.35% in the past month. In that same time, the Aerospace sector lost 4.66%, while the S&P 500 lost 0.85%.

Market participants will be closely following the financial results of Lockheed Martin in its upcoming release. The company plans to announce its earnings on April 23, 2024. On that day, Lockheed Martin is projected to report earnings of $5.78 per share, which would represent a year-over-year decline of 10.11%. In the meantime, our current consensus estimate forecasts the revenue to be $16.05 billion, indicating a 6.12% growth compared to the corresponding quarter of the prior year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $26.13 per share and revenue of $69.42 billion, which would represent changes of -6.07% and +2.74%, respectively, from the prior year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Lockheed Martin. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.12% lower. Currently, Lockheed Martin is carrying a Zacks Rank of #4 (Sell).

With respect to valuation, Lockheed Martin is currently being traded at a Forward P/E ratio of 17.24. For comparison, its industry has an average Forward P/E of 18.24, which means Lockheed Martin is trading at a discount to the group.

We can also see that LMT currently has a PEG ratio of 4.11. 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. Aerospace - Defense stocks are, on average, holding a PEG ratio of 1.83 based on yesterday's closing prices.

The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 157, which puts it in the bottom 38% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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

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