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Company Update (NYSE:LMT): Exclusive – Leidos nears $5 billion deal for Lockheed’s IT businesses – sources

[Reuters] – The deal will create the largest government services provider in the United States, putting Leidos on a stronger footing to cope with lower government spending, increased competition and delays in new contracts. It will also end Lockheed’s reign as the largest provider of IT services to the federal government, leaving the Pentagon’s No. 1 supplier to focus more on sophisticated military hardware. Reston, Virginia-based Leidos submitted an offer earlier this month that prevailed over rival U.S. defence contractor CACI International Inc and is in the process of finalising terms with Lockheed, the people said on Tuesday. Read more on this. Lockheed Martin Corporation (LMT) , currently valued at $65.81B, started trading this morning at $216.69. Looking at today’s trading action, the company’s one day range from $213.17 to $220.78 with a trailing 52-week range being $181.91 to $227.91. Priced at 19.01x this year’s forecasted earnings, LMT shares are relatively inexpensive compared to the industry’s 44.35x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $6.60 per share annually in dividends, yielding 3.05%. In a review of the consensus earnings estimate this quarter, 18 sell-side analysts are looking at $2.92 per share, which would be $0.09 worse than the year-ago quarter and a $0.03 sequential decrease. The full-year EPS estimate is $11.36, which would be a $0.04 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $12.33 Billion. If reported, that would be a 1.60% decrease over the year-ago quarter. More recently, RBC Capital Mkts upgraded LMT from Sector Perform to Outperform (Jan 6, 2016). Previously, Sterne Agee CRT upgraded LMT from Neutral to Buy. When considering if perhaps the stock is under or overvalued, the average price target is $232.13, which is 7.13% above where the stock opened this morning. See more in (NYSE:LMT) Similar Articles: Stock Update (NYSE:LMT): Lockheed wins $1.17 billion deal for early work on more F-35 jets Company Update: Lockheed Martin Corporation (NYSE:LMT) – Lockheed wins deal worth up to $428 mln for U.S. Navy combat systems Stock Update (NYSE:LMT): Lockheed Martin Receives $1.5 Billion Missile Interceptor Deal
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