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Stock Update (NYSE:LMT): Lockheed wins $1.17 billion deal for early work on more F-35 jets

[Reuters] – Lockheed Martin Corp has won a contract worth $1.17 billion to buy titanium and other materials needed to build an 11th batch of F-35 fighter jets, the Pentagon said on Monday. The contract covers 80 F-35A … Read more on this. Lockheed Martin Corporation (LMT) , with a current value of $66.21B, started the session at $213.80. A quick look at the market, the company’s stock traded between $213.52 and $215.59 with the price of the stock fluctuating between $181.91 to $227.91 over the last 52 weeks. Lockheed Martin (LMT) shares are currently priced at 18.96x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 43.45x earnings multiple for the same period. And for passive income investors, the company pays shareholders $6.60 per share annually in dividends, yielding 3.11%. In a review of the consensus earnings estimate this quarter, 18 sell-side analysts are looking at $2.91 per share, which would be $0.10 worse than the year-ago quarter and a $0.10 sequential decrease. Investors should also note that the full-year EPS estimate of $11.35 is a $0.05 worse 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 $12.22 Billion. If realized, that would be a 2.47% decrease over the year-ago quarter. More recently, Sterne Agee CRT upgraded LMT from Neutral to Buy (Aug 20, 2015). Previously, JP Morgan Initiated LMT at to Overweight. With the above information in mind, readers should note that the average price target is $228.31, which is 6.79% 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 Company Update: Lockheed Martin Corporation (NYSE:LMT) – Lockheed wins deal worth up to $428 mln for U.S. Navy combat systems Stock Update (NYSE:LMT): Lockheed Martin Receives $1.5 Billion Missile Interceptor Deal
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