Stock Update (NYSE:LMT): Lockheed wins $424 mln contract for radar emitter simulation products -Pentagon

[Reuters] – Lockheed Martin Corp has won a $424 million U.S. defense contract for threat radar emitter simulations products and services, and other simulation equipment, the Pentagon said on Thursday. The equipment … Read more on this. Lockheed Martin Corporation (LMT) , valued at $72.50B, opened at $236.10. Looking at the equity, the company’s one day range is $235.44 to $238.16 and has traded between $181.91 and $238.16 over the past 12 months. LMT shares are currently priced at 19.84x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 22.04x forward p/e ratio. And for dividend hunters, the company pays shareholders $6.60 per share annually in dividends, yielding 2.81%. In a review of the consensus earnings estimate this quarter, 17 sell-side analysts are looking at $2.93 per share, which would be $0.01 worse than the year-ago quarter and a $0.01 sequential increase. The full-year EPS estimate is $11.83 which would be a $0.99 improvement than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $12.61 Billion. If realized, that would be a 8.33% increase over the year-ago quarter. In terms of ratings, Berenberg Initiated LMT at Buy (Mar 17, 2016). Previously, Guggenheim Initiated LMT at to Buy. The average price target for LMT shares is $240.69, which is 1.94% 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 Stock Update: Lockheed Martin Corporation (NYSE:LMT) – Lockheed wins $5.3 billion contract for C-130J aircraft Market Update: Lockheed Martin Corporation (NYSE:LMT) – Lockheed wins more than $1 billion contract for C-130J aircraft
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