Lockheed Martin Corporation (NYSE:LMT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.
According to Zacks, “Being the largest defense contractor in the world, Lockheed Martin continues to be a strong cash generator. Moreover, the proposed budget of fiscal 2018 hinted at the U.S. government to spend more on defense primes like Lockheed Martin. Apart from its strong foray in the U.S., the company also boasts a strong opportunity in the ever-expanding international defense market. However, majority of Lockheed Martin’s sales are derived from government contracts. This limits the company’s commercial exposure and almost full government dependency may prove fatal in maintaining its margins and bottom line. Also, a comparative analysis of the company’s historical EV/EBITDA ratio, reflects a relatively gloomy picture when compared to its broader industry’s ratio. All these concerns caused Lockheed Martin to underperform the Zacks categorized Aerospace-Defense industry during the last one year.”
Several other analysts have also recently commented on LMT. Cowen and Company restated a “hold” rating and set a $265.00 target price on shares of Lockheed Martin Corporation in a report on Tuesday, April 25th. Stifel Nicolaus increased their target price on Lockheed Martin Corporation from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. Royal Bank Of Canada restated a “hold” rating and set a $263.00 target price on shares of Lockheed Martin Corporation in a report on Tuesday, May 9th. Jefferies Group LLC restated a “hold” rating and set a $240.00 target price on shares of Lockheed Martin Corporation in a report on Monday, June 12th. Finally, BidaskClub upgraded Lockheed Martin Corporation from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Lockheed Martin Corporation presently has an average rating of “Hold” and a consensus target price of $280.39.
Shares of Lockheed Martin Corporation (NYSE:LMT) traded up 0.37% during midday trading on Monday, hitting $289.20. 775,025 shares of the company were exchanged. Lockheed Martin Corporation has a one year low of $228.50 and a one year high of $290.06. The company’s 50 day moving average price is $278.05 and its 200 day moving average price is $266.57. The firm has a market cap of $83.71 billion, a P/E ratio of 16.74 and a beta of 0.60.
Lockheed Martin Corporation (NYSE:LMT) last announced its earnings results on Tuesday, April 25th. The aerospace company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.76 by $0.24. The company had revenue of $11.06 billion for the quarter, compared to analysts’ expectations of $11.22 billion. Lockheed Martin Corporation had a return on equity of 183.15% and a net margin of 10.49%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.91 earnings per share. Equities analysts expect that Lockheed Martin Corporation will post $12.53 EPS for the current year.
In other Lockheed Martin Corporation news, insider Richard F. Ambrose sold 9,316 shares of the stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $271.11, for a total value of $2,525,660.76. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.39% of the company’s stock.
Lockheed Martin Corporation Company Profile
Lockheed Martin Corporation is a security and aerospace company. The Company operates through four segments. Aeronautics segment is engaged in the research, design, development, manufacture, integration, sustainment, support and upgrade of military aircraft, including combat and air mobility aircraft, unmanned air vehicles and related technologies.
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