Market Update: Lockheed Martin Corporation (NYSE:LMT) – U.S. Navy asks Lockheed to fix issues with littoral combat ships

[Reuters] – The U.S. Navy has sent Lockheed Martin Corp three requests to correct problems, including propulsion-related issues, with the Littoral Combat Ship (LCS) program dating back to May of last year, a Navy spokesman said on Tuesday. Lockheed and Australia’s Austal are building two separate LCS models in what is one of the Pentagon’s biggest acquisition projects. U.S. Secretary of Defense Ash Carter has said the Navy should pick one supplier for production of future ships. Read more on this. Lockheed Martin Corporation (LMT) , valued at $74.40B, opened at $241.31. A quick look at the market, the company’s stock traded between $241.29 and $244.55 with the price of the stock fluctuating between $181.91 to $244.55 over the last 52 weeks. LMT shares are currently priced at 20.30x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 22.04x earnings multiple. The company pays shareholders $6.60 per share in dividend income per year, for a current yield of 2.75%. According to a consensus of 17 analysts, the earnings estimate of $2.93 per share would be $0.01 worse than the year-ago quarter and a $0.01 sequential increase. In looking at the bigger picture, the full-year EPS estimate of $11.84 would be a $1.00 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $12.60 Billion. If realized, that would be a 8.25% 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. When considering if perhaps the stock is under or overvalued, the average price target is $242.44, which is 0.47% above where the stock opened this morning. See more in (NYSE:LMT) Similar Articles: Market Update: Lockheed Martin Corporation (NYSE:LMT) – Sikorsky Conducts Combat Rescue Helicopter (CRH) Air Vehicle Preliminary Design Review (PDR) Stock Update: Lockheed Martin Corporation (NYSE:LMT) – Lockheed, Austal each win deals to build new U.S. Navy ships Company Update (NYSE:LMT): All Systems Go – Lockheed Martin Canada Delivers Modern Combat System to Royal Canadian Navy
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