Lockheed Martin (LMT) Stock Rising on Q2 Earnings Beat, Positive Guidance

Lockheed Martin (LMT) stock is climbing today after the company reported better-than-expected 2016 second quarter earnings before the market open.
By Rachel Aldrich ,

NEW YORK (TheStreet) -- Shares of Lockheed Martin (LMT) - Get Report  are higher by 2.65% to $263.09 this morning after the company reported a 2016 second quarter earnings and revenue beat and improved guidance for the year.

The beat is largely attributed to robust sales of Lockheed's F-35 fighter jet, TheStreet's James Passeri said in the above video.

The company reported earnings of $3.32 per share on revenue of $12.9 billion for the second quarter of 2016 before the market open. Analysts were expecting earnings of $2.93 per share on revenue of $12.55 billion.

In the second quarter of 2015, earnings were $2.94 per share on revenue of $11.6 billion. 

This quarter, Lockheed Martin benefited from the acquisition of helicopter producer Sikorsky Aircraft, Reuters reports.

The company's 2016 profit forecasts were raised to $12.15-$12.45 per share, up from $11.50-$11.80 previously. Revenue forecasts for 2016 were lifted to $50-$51.5 billion from $49.6-$51.1 billion.

Lockheed Martin is a Bethesda, MD-based weapons company and the Pentagon's number one weapons supplier.

(Lockheed Martin is held in Jim Cramer's charitable trust Action Alerts PLUS. See all of his holdings with a free trial.)

Separately, TheStreet Ratings rated this stock as a "buy" with a ratings score of A+.

The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, good cash flow from operations, solid stock price performance and reasonable valuation levels. TheStreet Ratings feels its strengths outweigh the fact that the company has had sub par growth in net income.

You can view the full analysis from the report here: LMT

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. 

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