Lockheed Martin (LMT - Free Report) closed the most recent trading day at $382.31, moving -0.38% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.56%. Meanwhile, the Dow lost 1.19%, and the Nasdaq, a tech-heavy index, lost 1.67%.
Coming into today, shares of the aerospace and defense company had gained 0.94% in the past month. In that same time, the Aerospace sector lost 0.2%, while the S&P 500 lost 1.22%.
LMT will be looking to display strength as it nears its next earnings release, which is expected to be October 22, 2019. In that report, analysts expect LMT to post earnings of $5.03 per share. This would mark a year-over-year decline of 2.14%. Our most recent consensus estimate is calling for quarterly revenue of $14.98 billion, up 4.65% from the year-ago period.
LMT's full-year Zacks Consensus Estimates are calling for earnings of $21.22 per share and revenue of $59.31 billion. These results would represent year-over-year changes of +20.64% and +10.31%, respectively.
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. 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. The Zacks Consensus EPS estimate has moved 0.09% higher within the past month. LMT currently has a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that LMT has a Forward P/E ratio of 18.08 right now. This valuation marks a premium compared to its industry's average Forward P/E of 17.89.
We can also see that LMT currently has a PEG ratio of 2.55. 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. LMT's industry had an average PEG ratio of 2.03 as of yesterday's close.
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 29, which puts it in the top 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.