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In the latest trading session, Lockheed Martin (LMT) closed at $603.20, marking a -0.44% move from the previous day. This change lagged the S&P 500's 0.01% gain on the day. Meanwhile, the Dow gained 0.09%, and the Nasdaq, a tech-heavy index, added 0.08%.

Coming into today, shares of the aerospace and defense company had gained 6.81% in the past month. In that same time, the Aerospace sector gained 1.4%, while the S&P 500 gained 1.21%.

Investors will be eagerly watching for the performance of Lockheed Martin in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on October 22, 2024. On that day, Lockheed Martin is projected to report earnings of $6.40 per share, which would represent a year-over-year decline of 5.47%. Simultaneously, our latest consensus estimate expects the revenue to be $17.45 billion, showing a 3.37% escalation compared to the year-ago quarter.

For the full year, the Zacks Consensus Estimates are projecting earnings of $26.49 per share and revenue of $71.14 billion, which would represent changes of -4.78% and +5.28%, respectively, from the prior year.

Investors should also pay attention to any latest changes in analyst estimates for Lockheed Martin. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Lockheed Martin currently has a Zacks Rank of #2 (Buy).

With respect to valuation, Lockheed Martin is currently being traded at a Forward P/E ratio of 22.87. This signifies a premium in comparison to the average Forward P/E of 21.64 for its industry.

Also, we should mention that LMT has a PEG ratio of 4.89. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. LMT's industry had an average PEG ratio of 2.14 as of yesterday's close.

The Aerospace - Defense industry is part of the Aerospace sector. At present, this industry carries a Zacks Industry Rank of 38, placing it within the top 16% of over 250 industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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