Lockheed Martin (LMT) closed at $479.34 in the latest trading session, marking a +2.63% move from the prior day. This move outpaced the S&P 500's daily loss of 0.84%. Elsewhere, the Dow saw a downswing of 0.7%, while the tech-heavy Nasdaq depreciated by 0.91%.
The stock of aerospace and defense company has fallen by 0.27% in the past month, leading the Aerospace sector's loss of 0% and undershooting the S&P 500's gain of 1.44%.
The investment community will be closely monitoring the performance of Lockheed Martin in its forthcoming earnings report. The company is forecasted to report an EPS of $6.58, showcasing a 7.45% downward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $18.59 billion, up 2.57% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $27.27 per share and revenue of $74.35 billion. These totals would mark changes of -4.21% and +4.66%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for Lockheed Martin. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.11% decrease. Lockheed Martin is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Lockheed Martin is presently being traded at a Forward P/E ratio of 17.13. This signifies a discount in comparison to the average Forward P/E of 24.12 for its industry.
Investors should also note that LMT has a PEG ratio of 1.63 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Aerospace - Defense industry currently had an average PEG ratio of 1.98 as of yesterday's close.
The Aerospace - Defense industry is part of the Aerospace sector. With its current Zacks Industry Rank of 69, this industry ranks in the top 29% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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Lockheed Martin Corporation (LMT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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