Stock Update (NYSE:LMT): Quietly, Vietnam hosts arms gathering attended by U.S. companies

[Reuters] – HANOI/WASHINGTON, May 11 (Reuters) – Vietnam hosts a defence symposium this week attended by top American arms manufacturers, ahead of a visit by U.S. President Barack Obama and as Washington weighs whether to lift an arms embargo on its former enemy. Secrecy has surrounded the event staged by the communist country and attended by firms including Boeing and Lockheed Martin. It coincides with the biggest arms buildup in the country since the Vietnam War. Read more on this. Lockheed Martin Corporation (LMT) , with a current market cap of $74.08B, opened at $243.97. Today, shares have traded between $243.30 and $244.47 per share and has traded between $181.91 and $244.55 over the past 12 months. Priced at 20.64x this year’s forecasted earnings, LMT shares are relatively inexpensive compared to the industry’s 22.04x forward p/e ratio. And for passive income investors, the company pays shareholders $6.60 per share annually in dividends, yielding 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 predicated on a consensus revenue forecast of $12.60 Billion. If reported, that would be a 8.25% increase over the year-ago quarter. More recently, Berenberg Initiated LMT at Buy (Mar 17, 2016). Previously, Guggenheim Initiated LMT at to Buy. The average price target for LMT shares by the analysts covering it is $242.44, which is 0.63% below where the stock opened. See more in (NYSE:LMT) Similar Articles: Stock Update (NYSE:LMT): Lockheed wins $424 mln contract for radar emitter simulation products -Pentagon Stock Update (NYSE:LMT): Lockheed Martin Stock Rises Ahead of Earnings (LMT, LDOS) Stock Update (NYSE:LMT): First Lockheed Martin LM-100J Reaches Production Milestones
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