Company Update (NYSE:LMT): U.S. senator does not expect Pakistan F-16 sale to be blocked

[Reuters] – U.S. Senator Ben Cardin, the top Democrat on the Senate Foreign Relations Committee, said on Wednesday he does not expect an upcoming vote on a $700 million sale of F-16 fighter jets to Pakistan to keep the deal from going ahead. President Barack Obama’s administration announced on Feb. 12 that it had approved the sale of the Lockheed Martin Corp aircraft as well as radars and other equipment to Pakistan. Cardin told reporters he opposed Paul’s resolution and expected it would fail, with the chamber’s Republican and Democratic leaders opposing it. Read more on this. Lockheed Martin Corporation (LMT) , with a current value of $65.55B, opened at $216.75. Looking at today’s market, LMT one day range is $215.74 to $217.92 with its 52-week range being $181.91 to $227.91. LMT shares are currently priced at 18.29x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 30.25x earnings multiple. The company pays shareholders $6.60 per share in dividend income per year, for a current yield of 3.02%. In a review of the consensus earnings estimate this quarter, 17 sell-side analysts are looking at $2.60 per share, which would be $0.14 worse than the year-ago quarter and a $0.18 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $11.80, which would be a $0.96 better when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $11.32 Billion. If realized, that would be a 11.97% increase over the year-ago quarter. Recently, Guggenheim Initiated LMT at Buy (Jan 20, 2016). Previously, RBC Capital Mkts upgraded LMT from Sector Perform to Outperform. The average price target for LMT shares is $235.57, which is 8.68% above where the stock opened this morning. See more in (NYSE:LMT) Similar Articles: Company Update (NYSE:LMT): Key U.S. senator wants hearing on possible F-16 sale to Pakistan Stock Update: Lockheed Martin Corporation (NYSE:LMT) – U.S. Senate committee chairman questions Pakistan F-16 deal Company Update: Lockheed Martin Corporation (NYSE:LMT) – U.S. okays sale of 8 Lockheed F-16 fighter jets to Pakistan -Pentagon