2024-01-22 22:04:00
Despite the global threats, the Lockheed Martin stock LOCKHEED MARTIN CORP +0.24% Close:0 Open:457.57 High:460.83 Low:455.44 Cycle:– Page Quote News Graphs Company profile Recommendations More articles on the subject: continues to trade stably. The company’s results that will be published tomorrow are expected to help the company’s stock get out of the situation in which it has been stuck for some time. However, it is still unclear whether it will be up or down.
Wall Street expects the security giant to post earnings per share of $7.29 on revenues of $18 billion. For the year Lockheed recorded earnings per share of $7.79 on revenues of $19 billion. For the entire year, earnings per share are expected to be $27.23. The company’s forecast for 2023 started with a profit of $26.75 per share in January 2023 and reached by October a profit per share of $27.10.
For 2024, Wall Street expects earnings per share of $26.61. Profits are expected to be down from the previous year, which is one reason why Lockheed’s stock is up just 4% over the past 12 months. The company’s weaker performance comes against the background of the continuation of the war in Ukraine, Israel’s war and the growing geopolitical tensions around Taiwan. The shares of defense companies usually do not react with sharp volatility to any conflict. Stock prices tend to reflect the longer-term outlook regarding wars and government spending. Lockheed typically receives more than 70% of its annual revenue from the US government.
In addition to the reports, investors will also expect an update from the company regarding the new version of the F-35, which has not yet been delivered to the US government. When the government reviews and approves the new technology, Lockheed will be able to deliver more F-35s. The sooner the final approvals are received The more, the better.
The options market is now pricing in a 3% move up or down following the reports. Lockheed shares have moved an average of about 2%, up or down, after the release of results in the last four quarters. The company’s shares reacted with increases three times and decreased once during that period.
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