Stock Update: Lockheed Martin Corporation (NYSE:LMT) – Lockheed Martin to Streamline Internal Revenue Service Tax Processing

[PR Newswire] – BETHESDA, Md., Jan. 20, 2016 /PRNewswire/ — Lockheed Martin (LMT) was recently awarded a new contract with the Internal Revenue Service (IRS), supporting its Submission Processing systems to streamline the processing of paper tax filings, information returns and remittances. U.S. taxpayers file more than 100 million paper tax documents annually through the IRS Submission Processing Pipeline. Lockheed Martin will operate and maintain the efficiency of two high-performance IRS systems under this Paper and Remittance Processing Support contract. Read more on this. Lockheed Martin Corporation (LMT) , valued at $65.03B, opened this morning at $213.18. During today’s session, LMT traded between $210.74 to $216.20 with the price of the stock fluctuating between $181.91 to $227.91 over the last 52 weeks. LMT shares are currently priced at 18.95x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 44.35x earnings multiple for the same period. And for passive income investors, the company pays shareholders $6.60 per share annually in dividends, yielding 3.05%. According to a consensus of 18 analysts, the earnings estimate of $2.92 per share would be $0.09 worse than the year-ago quarter and a $0.02 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $11.36, which would be a $0.04 worse when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $12.33 Billion. If realized, 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. With the above information in mind, readers should note that the average price target is $232.13, which is 8.89% above where the stock opened this morning. See more in (NYSE:LMT) Similar Articles: Stock Update: Lockheed Martin Corporation (NYSE:LMT) – The Netherlands Chooses Lockheed Martin’s Sniper® Advanced Targeting Pod for F-16 Fleet Stock Update: Lockheed Martin Corporation (NYSE:LMT) – Lockheed Martin Increases Share Repurchase Authority by $3.0 Billion Stock Update: Lockheed Martin Corporation (NYSE:LMT) – Lockheed Martin Announces Workforce Reductions for IT Services Business