In February, Lockheed scrapped its planned acquisition of Aerojet Rocketdyne after the Federal Trade Commission unanimously voted to file a complaint to block the merger. In March, the Pentagon cut its fiscal year 2023 order for the company’s F-35 fighter jet from 94 to 61. That total is subject to more political wrangling, of course.
Just six of 17 brokerages have a Buy or Strong Buy rating on the stock, compared to 11 that rate the shares at Hold. At a share price of around $469.20, the company trades above its median price target of $466.00. At the high price target of $521.00, the upside potential is 11%.
First-quarter revenue is forecast at $15.49 billion, down 12.6% sequentially and 4.7% lower year over year. Adjusted EPS are expected to come in at $6.19, down 14.5% sequentially and 5.6% year over year. For full fiscal 2022, Lockheed is expected to post EPS of $26.79, down 2.5%, on sales of $666.11 billion, down 1.4%.
Lockheed stock trades at 17.5 times expected 2022 EPS, 16.5 times estimated 2023 earnings of $28.47 and 16.3 times estimated 2024 earnings of $28.81 per share. The stock’s 52-week range is $323.23 to $479.99, and Lockheed pays an annual dividend of $10.60 (yield of 2.39%). Total shareholder return over the past 12 months was 24.8%.
With a market cap of more than $69 billion, Truist Financial Corp. (NYSE: TFC), is the country’s fourth-largest regional bank. Since peaking in mid-January, the stock has dropped 22%, and over the past 12 months, the stock’s value has fallen by about 11%. The commercial bank posted a new 52-week low on Wednesday.
Truist’s downside risks include the imposition of a strict liquidity coverage ratio, tightening of regulations related to overdraft charges, and potential restrictions on capital distribution. It is worth noting that at the current share price, the stock’s dividend yield is quite high. But is it solid?
Sentiment on the stock is mixed, with 10 of 24 analysts giving the shares a Buy or Strong Buy rating and 12 rating the shares at Hold. At a share price of around $52.00, the upside potential based on a median price target of $64.50 is 24%. At the high price target of $77, the upside potential is about 48%.
Analysts expect first-quarter revenue of $5.48 billion, down 2.1% sequentially and about 0.5% lower year over year. Adjusted EPS are forecast at $1.11, down 19.6% sequentially and 5.9% year over year. For the full 2022 fiscal year, current estimates call for EPS of $4.89, down 11.6%, and revenue of $23.15 billion, up about 3.4%.
Truist stock trades at 10.6 times expected 2022 EPS, 9.2 times estimated 2023 earnings of $5.63 and 8.3 times estimated 2024 earnings of $6.30. The stock’s 52-week range is $51.66 to $98.95, and the bank pays an annual dividend of $1.86 (yield of 3.69%). Total shareholder return for the past 12 months was negative 9.1%.
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