Lockheed Martin (NYSE:LMT)
On October 18, before the markets open in the United States, Lockheed Martin (NYSE:LMT) plans to report its earnings for the third quarter. A webcast will follow this to discuss the results at 11 a.m. Eastern Time.
The average analyst projection for earnings per share is $6.73, while the average analyst projection for revenue is $16.69 billion, representing a 4.1% increase over the previous year’s total.
In the last year, Lockheed Martin stock has successfully beaten predictions for earnings per share (EPS) 75% of the time and revenue projections 25% of the time.
Over the previous three months, the consensus estimate of EPS has been revised three times higher and seven times down.
Lockheed Martin stock declined after missing Q2 revenue projections and reducing its FY22 guidance on a reduction in F-35 sales due to pandemic-related barriers. Both of these factors contributed to the decline in Lockheed Martin’s stock price.
Recent development:
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- As Credit Suisse begins coverage of the aerospace and military industries, Lockheed Martin has been assigned an Underperform rating.
- According to Bernstein, Textron’s share price might drop by 8–10% if the Army chooses a competitor for the $40 billion helicopter deal. Analysts at Wolfe Research gave Lockheed Martin a Peer Perform rating.
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Some recent orders:
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- The modification contract was awarded to Lockheed Martin for $35.83M.
- A contract for $5.1 billion for the Naval Air Systems has been awarded to Lockheed Martin and many other companies.
- Lockheed Martin was awarded a modification contract for 265 and 59 million dollars for Naval Air Systems.
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Through October 14 of this year, Lockheed Martin stock had increased by 10%, compared to a rise of 25% for the S&P 500 Stock Index (SP500) and a decrease of 5.7% for the S&P 500 Aerospace & Defense index (SP500-20101010).
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Lockheed Martin stock rose as the company prepared to release its results for the third quarter, as investors looked for F-35 updates.
Featured Image – Megapixl © Luckydoor
Author Shariq Khan 
