Company Update: Lockheed Martin Corporation (NYSE:LMT) – U.S. okays sale of 8 Lockheed F-16 fighter jets to Pakistan -Pentagon

[Reuters] – The U.S. government on Friday said it had approved the sale to Pakistan of eight F-16 fighter jets built by Lockheed Martin Corp, radars and other equipment, in a deal valued at $699 million. The Pentagon’s … Read more on this. Lockheed Martin Corporation (LMT) , with a current market cap of $62.44B, began trading this morning at $208.31. During the trading session, LMT traded between $205.55 to $209.92 with its 52-week range being $181.91 to $227.91. Priced at 17.56x this year’s forecasted earnings, LMT shares are relatively inexpensive compared to the industry ’s 41.93x forward p/e ratio. And for passive income investors, the company pays shareholders $6.60 per share annually in dividends, yielding 3.11%. In a review of the consensus earnings estimate this quarter, 17 sell-side analysts are looking at $2.59 per share, which would be $0.15 worse than the year-ago quarter and a $0.19 sequential decrease. The full-year EPS estimate is $11.80 which would be a $0.96 better than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $11.32 Billion. If reported, that would be a 11.97% increase over the year-ago quarter. Recently, Guggenheim Initiated LMT at Buy (Jan 20, 2016). Previously, RBC Capital Mkts upgraded LMT from Sector Perform to Outperform. When considering if perhaps the stock is under or overvalued, the average price target is $234.87, which is 12.75% above where the stock opened this morning. See more in (NYSE:LMT) Similar Articles: Stock Update: Lockheed Martin Corporation (NYSE:LMT) – Pentagon to spend $56.3 bln for 404 Lockheed F-35 jets over 5 years Market Update: Lockheed Martin Corporation (NYSE:LMT) – Lockheed Martin wins $784 mln U.S. long-range radar deal-Pentagon Company Update: Lockheed Martin Corporation (NYSE:LMT) – Alcoa Wins Titanium Contract with Lockheed Martin for F-35 Joint Strike Fighter
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