Lockheed Martin Corp LMT is set to report its third-quarter financial results before Tuesday's opening bell. Here's a look at what investors will be watching.
The Details: According to data from Benzinga Pro, analysts expect the company to report earnings of $6.50 per share and quarterly revenue of $17.351 billion. Lockheed Martin has beat analyst expectations on the top and bottom lines for the past seven consecutive quarters.
Investors are anticipating an update on the planned acquisition of satellite manufacturer Terran Orbital Corp. LLAP and updates on the defense contractor's $5.1 billion in recently secured contracts.
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What Else: Last week, Reuters reported the Biden administration plans to soften export restrictions on U.S. space companies to ship satellites and spacecraft-related items to allies.
People familiar with the matter reportedly said the move is aimed at boosting sales for the commercial space industry in the U.S. while protecting national security. Lockheed Martin stands to benefit from the new policies due to the company's space segment.
Susquehanna analyst Charles Minervino maintained Lockheed Martin with a Positive rating and raised the price target from $565 to $705 ahead of the company's third-quarter report.
LMT Price Action: According to Benzinga Pro, Lockheed Martin shares ended Monday’s session up 0.46% at $614.61.
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