Plus   Neg

Stock Alert: Lockheed Martin Corp. (LMT) Shares Hit 52-Week High

Shares of global security and aerospace company Lockheed Martin Corp. (LMT) hit a new 52-week high of $434.45 on Jan. 27, 2020, and closed Monday's trading session at $432.38, down 12 cents or 0.03%. Trading volume rose to 1.73 million versus an average volume of 1.05 million shares.

Recent Happenings:

As recently as on Jan. 24, the company's board authorized a first quarter 2020 dividend of $2.40 per share, payable on March 27, 2020, to holders of record as of the close of business on March 2, 2020.

On Jan. 14, Lockheed Martin won a $13.9 million design agent engineering services contract to continue production and fielding advanced electronic warfare systems for the U.S. Navy. Lockheed Martin will continue supporting engineering and fielding efforts for the Surface Electronic Warfare Improvement Program, AN/SLQ-32(V)6, which provides early detection, analysis, threat warning, and protection from anti-ship missiles

Also, the company received a $43 million contract modification from the U.S. Navy to upgrade to the AN/ALQ-217 Electronic Support Measures (ESM) system for the E-2D Advanced Hawkeye.

On Oct. 22, 2019, the company reported Q3 net income of $1.6 billion, or $5.66 per share, compared to $1.5 billion, or $5.14 per share, last year. Net sales rose to $15.2 billion from $14.3 billion generated a year ago.

FY19, 2020 Guidance

The company now sees fiscal 2019 earnings to be about $21.55 per share versus its prior outlook range of $20.85 - $21.15, and net sales of about $59.1 billion compared to its previous guidance range of $58.3 billion - $59.8 billion. Wall Street analysts expect earnings of $21.67 per share on revenue of $59.2 billion for fiscal 2019.

For fiscal 2020, the company expects net sales to increase to about $62.0 billion. Twenty analysts have a consensus revenue estimate of $62.55 billion for fiscal 2020.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT