Lockheed Martin (LMT:NYE), the leading player in the aerospace and defense industry, is gearing up to announce its highly anticipated second-quarter results for 2023 on July 18, prior to the opening of the market. Analysts are optimistic about the company’s performance, expecting a boost in both LMT stock earnings and revenue compared to the same period last year.
Benefiting from Resolving Supply-Chain Challenges and Rising Defense Budgets:
Lockheed Martin is poised to reap the rewards of resolving supply-chain issues that plagued the industry. The mitigation of these challenges, coupled with the heightened defense budgets due to mounting geopolitical tensions, is expected to contribute significantly to the company’s quarterly performance.
Playing a Vital Role in the Ukrainian Conflict:
Lockheed Martin’s notable involvement in supplying arms to Ukraine in its ongoing conflict with Russia has garnered attention and support. This involvement further bolsters the company’s prospects and adds to the positive sentiment surrounding its second-quarter results.
Impressive Order Backlog Reflects Favorably on Future Performance:
The strength of Lockheed Martin’s order backlog serves as a positive indicator of its financial performance in the near term. The robust backlog underscores the company’s ability to secure contracts and indicates a strong foundation for future growth.
LMT Stock-Analyst Expectations: Stellar Earnings and Revenue Growth
Market analysts are predicting significant growth for Lockheed Martin stock in the second quarter. Earnings per share are expected to reach $6.45, a substantial increase from $1.16 reported during the same period last year. Additionally, revenue projections stand at $15.9 billion, representing a year-over-year jump of 3%.
Technical Analysis Signals a Buy for LMT Stock:
Ahead of the highly anticipated earnings release, technical indicators suggest a favorable outlook for Lockheed Martin stock (LMT). According to Stock Target Advisor, the stock’s 50-Day EMA (exponential moving average) sits at 459.72, while the current stock price hovers around $470, indicating a Buy rating. Moreover, LMT’s Trend Strength Indicator of 10.91 reinforces the upward trend.
Mixed Sentiment on LMT Stock, but Potential Upside!
Despite positive indicators, Wall Street sentiment on Lockheed Martin stock remains cautious, resulting in a Hold consensus rating. Over the past three months, analysts have assigned two Buy, eight Hold, and two Sell recommendations. However, the average price target for LMT stock stands at $486.31, implying a potential upside of 3.47% from the current levels. Notably, shares of the LMT stock have already gained 8% in the past six months.
Following the Most Accurate Analyst:
Among analysts covering Lockheed Martin, Susquehanna analyst Charles Minervino has demonstrated exceptional accuracy and profitability. Utilizing data from Stock Target Advisor’s Analyst Directory, it is revealed that copying Minervino’s trades on LMT stock and holding each position for one year would have yielded profits for 90% of the transactions, with an impressive average return of 14.3% per trade.
