Company Update: Lockheed Martin Corporation (NYSE:LMT) – Britain not retreating from NATO after Brexit – Dunne

[Reuters – UK Focus] – British voters’ decision in a June 23 referendum to back leaving the European Union does not change the country’s commitment to remain a strong partner in NATO, Britain’s Minister for Defence Procurement Philip Dunne said on Friday. Britain remains the largest international partner on the Lockheed Martin Corp F-35 fighter jet programme, with about 15 percent of each jet produced by firms in Britain, Dunne said. Dunne said it was still too early to predict the impact of the vote on Britain’s trade arrangements, but he was confident that the country would continue to have the strongest defence and security supply chain in Europe. Read more on this. Lockheed Martin Corporation (LMT) , currently valued at $76.34B, opened this morning at $250.78. Looking at today’s trading action, the company’s one day range from $248.50 to $250.98 and has traded between $181.91 and $251.32 over the past year. Priced at 21.08x this year’s forecasted earnings, LMT shares are relatively inexpensive compared to the industry’s 21.97x forward p/e ratio. And for income investors, the company pays shareholders $6.60 per share annually in dividends, yielding 2.65%. Consensus earnings for the current quarter by the 16 sell-side analysts covering the stock is an estimate of $2.91 per share, which would be $0.03 worse than the year-ago quarter and a $0.01 sequential decrease. The full-year EPS estimate is $11.85 which would be a $0.53 improvement than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $12.56 Billion. If realized, that would be a 7.90% increase over the year-ago quarter. Recently, Berenberg downgraded LMT from Buy to Hold (May 31, 2016). Previously, RBC Capital Mkts downgraded LMT from Outperform to Sector Perform. The average price target for LMT shares by the analysts covering the stock is $244.29, which is 2.59% below where the stock opened this morning. See more in (NYSE:LMT) Similar Articles: Market Update: Lockheed Martin Corporation (NYSE:LMT) – QTC, a Lockheed Martin Company, Sponsors the 2016 National Veterans Wheelchair Games Company Update: Lockheed Martin Corporation (NYSE:LMT) – Lockheed Martin, Raytheon units win $649.7 mln U.S. defense contract -Pentagon Company Update: Lockheed Martin Corporation (NYSE:LMT) – Lockheed Martin to Accelerate Veterans Disability Claims Processing
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