The company that develops and produces some of the most advanced fighter jets in the world has managed to increase its market capitalization with almost 50% in one fiscal year, following Donald Trump's presidential bid to increase the government spending on the military for renovation and upgrading the arm forces. The consequent purchases of the new F-35 fighter jets by the US air force, which are some of the latest projects of Lockheed Martin, has resulted in a tremendous increase in the company’s revenue streams.
The company's actual EPS beat the initial forecasts of $ 4.34 by reaching $ 5.99, which highlights the stark growth of LM's EPS since the first quarter of 2018 when the earnings per share were sitting at $4.02. Moreover, the net income of LM has increased from $ 1.16 billion for Q1 of 2018 to $ 1.7 billion for the first quarter of this year.
As a result of that, the share price of the company rose with 5.66% during yesterday’s trading session, from the 326.52 opening price to eventually closing at 333.10. The price has managed to break above a fundamental resistance level of 325.30, and now we are yet to see whether the market will remain trading above that level or as the volatility levels decrease and the investors' excitement sentiment calms down the price will eventually fall back down into the previous range.
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