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Market Update: Lockheed Martin Corporation (NYSE:LMT) – F-35 jets headed to UK air shows this summer-Marines

[Reuters] – The U.S. Marine Corps on Monday said it will send a pair of Lockheed Martin Corp F-35 fighter jets to two air shows in Britain this summer – a key milestone for the $391 billion weapons program after its … Read more on this. Lockheed Martin Corporation (LMT) , valued at $65.17B, started trading this morning at $211.84. A quick look at the market, the company’s stock traded between $211.05 and $212.75 with its 52-week range being $181.91 to $227.91. LMT shares are currently priced at 18.63x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry ’s 44.35x forward p/e ratio. The company pays shareholders $6.60 per share annually in dividends, yielding 3.11%. Consensus earnings for the current quarter by the 18 sell-side analysts covering the stock is an estimate of $2.94 per share, which would be $0.07 worse than the year-ago quarter and a $0.00 sequential decrease. The full-year EPS estimate is $11.38 which would be a $0.02 worse than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $12.36 Billion. If realized, that would be a 1.36% decrease over the year-ago quarter. In terms of ratings, Guggenheim Initiated LMT at Buy (Jan 20, 2016). Previously, RBC Capital Mkts upgraded LMT from Sector Perform to Outperform. Investors should keep in mind is that the average price target is $232.13, which is 9.58% above where the stock opened this morning. See more in (NYSE:LMT) Similar Articles: Market Update: Lockheed Martin Corporation (NYSE:LMT) – Lockheed Martin wins $784 mln U.S. long-range radar deal-Pentagon Market Update: Lockheed Martin Corporation (NYSE:LMT) – Lockheed Martin Selected To Secure All Western Region Airports & Ports Company Update: Lockheed Martin Corporation (NYSE:LMT) – U.S. Marines see decision soon on F-35 fighter combat-readiness
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