Just seven of 22 brokerages have a Buy rating on Lockheed Martin stock, compared to 11 that have Hold ratings. At a price of around $439.30 a share, the upside potential based on a median price target of $502.00 is 14.3%. At the high price target of $759.00, the upside potential is 72.8%.
Fourth-quarter revenue is forecast at $18.25 billion, up about 10.1% sequentially and nearly 3% higher year over year. Adjusted EPS are expected to come in at $7.37, up 7.2% sequentially and by 1.8% year over year. For the full 2022 fiscal year, Lockheed is expected to post EPS of $26.99, down 1.8%, on sales of $65.24 billion, down 2.7%.
The stock trades at 16.3 times expected 2022 EPS, 16.4 times estimated 2023 earnings of $26.83 and 15.6 times estimated 2024 earnings of $28.16 per share. The stock’s 52-week range is $365.34 to $498.95, and the annual dividend is $12.00 (yield of 2.72%). Total shareholder return over the past 12 months was almost 20%.
Raytheon
Defense contractor Raytheon Technologies Corp. (NYSE: RTX) has seen its share price increase by 4.5% over the past 12 months. Since the beginning of 2023, the stock is down 7.2%. Investors’ concerns over possible cuts to the defense budget are hitting Raytheon, which derived nearly two-thirds of its revenue from Pentagon contracts in 2021, this is just as big a deal as it is for Lockheed. What may help Raytheon through a rough patch is its position as a top supplier of missile systems that are taking on a larger role in Ukraine and are important to Taiwan’s defenses.
Of 23 analysts covering the stock, 13 have a Buy or Strong Buy rating and the other 10 rate it at Hold. At a share price of around $94.00, the upside potential based on a median price target of $107.00 is 13.8%. At the high price target of $120.00, the upside potential is 27.7%.
Analysts expect Raytheon to report fourth-quarter revenue of $18.17 billion, up 7.2% sequentially and by 6.5% year over year. Adjusted EPS are expected to reach $1.25, up almost 3% sequentially and 15.7% higher year over year. For the full 2022 fiscal year, EPS is pegged at $4.75, up 11.2%, on revenue of $67.15 billion, up 4.3%.
Raytheon stock trades at 19.8 times expected 2022 EPS, 18.6 times estimated 2023 earnings of $5.05 and 15.7 times estimated 2024 earnings of $5.98 per share. The stock’s 52-week range is $80.27 to $106.02. Raytheon pays an annual dividend of $2.20 (yield of 2.33%). Total shareholder return over the past 12 months was 8.8%.
Originally published at 24/7 Wall St.
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