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Lockheed Martin (LMT) closed the latest trading day at $460.38, indicating a -0.14% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.88%. Meanwhile, the Dow gained 0.08%, and the Nasdaq, a tech-heavy index, lost 1.95%.

Prior to today's trading, shares of the aerospace and defense company had gained 0.41% over the past month. This has outpaced the Aerospace sector's loss of 3.69% and lagged the S&P 500's gain of 5.11% in that time.

The investment community will be closely monitoring the performance of Lockheed Martin in its forthcoming earnings report. The company is scheduled to release its earnings on July 23, 2024. The company is forecasted to report an EPS of $6.44, showcasing a 4.31% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $17.06 billion, indicating a 2.19% increase compared to the same quarter of the previous year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $26.27 per share and a revenue of $69.76 billion, representing changes of -5.57% and +3.24%, respectively, from the prior year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Lockheed Martin. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.07% higher within the past month. Lockheed Martin currently has a Zacks Rank of #3 (Hold).

Digging into valuation, Lockheed Martin currently has a Forward P/E ratio of 17.55. For comparison, its industry has an average Forward P/E of 17.55, which means Lockheed Martin is trading at no noticeable deviation to the group.

It's also important to note that LMT currently trades at a PEG ratio of 4.32. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Aerospace - Defense stocks are, on average, holding a PEG ratio of 1.75 based on yesterday's closing prices.

The Aerospace - Defense industry is part of the Aerospace sector. Currently, this industry holds a Zacks Industry Rank of 101, positioning it in the top 41% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

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