Company Update: Lockheed Martin Corporation (NYSE:LMT) – Lockheed Martin, Raytheon units win $649.7 mln U.S. defense contract -Pentagon

[Reuters] – Subsidiaries of Lockheed Martin Corp and Raytheon Co were awarded a combined $649.7 million modification contract for Paveway II laser-guided bombs, the U.S. Defense Department said on Monday. The modification … Read more on this. Lockheed Martin Corporation (LMT) , with a current market cap of $73.17B, opened this morning at $240.26. Today, shares have traded between $239.52 and $242.00 per share with a trailing 52-week range being $181.91 to $242.00. Lockheed Martin (LMT) shares are currently priced at 20.11x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 22.04x earnings multiple for the same period. And for dividend hunters, the company pays shareholders $6.60 per share annually in dividends, yielding 2.75%. According to a consensus of 16 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. What we find to be interesting is that the full-year EPS estimate of $11.84 is a $1.00 improvement 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 $12.62 Billion. If realized, that would be a 8.42% increase over the year-ago quarter. In terms of ratings, Berenberg Initiated LMT at Buy (Mar 17, 2016). Previously, Guggenheim Initiated LMT at to Buy. When considering if the stock is under or overvalued, the average price target is $240.69, which is 0.18% above where the stock opened this morning. See more in (NYSE:LMT) Similar Articles: Company Update: Lockheed Martin Corporation (NYSE:LMT) – Pentagon expects to reach $15 bln F-35 deal with Lockheed in March Company Update: Lockheed Martin Corporation (NYSE:LMT) – Morning Analysis on Aerospace/Defense Products & Services Stocks – United Technologies, The Boeing, General Dynamics, and Lockheed Martin Company Update: Lockheed Martin Corporation (NYSE:LMT) – Lockheed Martin Receives $528 Million THAAD Missile-Defense Contract