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Company Update (NYSE:LMT): Key U.S. senator wants hearing on possible F-16 sale to Pakistan

[Reuters] – U.S. Senator John McCain on Thursday urged the Senate Foreign Relations Committee to hold a hearing on the possible sale of Lockheed Martin Corp F-16 fighter jets to Pakistan. McCain, chairman of the Senate Armed Services Committee, told reporters he was concerned about the timing of the Obama administration’s decision to approve the sale of the fighter jets to Pakistan, and potential consequences for U.S. relations with India. “I would rather have seen it kicked over into the next administration,” McCain said. Read more on this. Lockheed Martin Corporation (LMT) , with a current market cap of $66.21B, opened this morning at $217.00. Looking at today’s market, LMT one day range is $216.38 to $218.83 with the price of the stock fluctuating between $181.91 to $227.91 over the last 52 weeks. LMT shares are currently priced at 18.23x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry ’s 40.92x earnings multiple. The company pays shareholders $6.60 per share in dividend income per year, for a current yield of 3.09%. According to a consensus of 17 analysts, the earnings estimate of $2.60 per share would be $0.14 worse than the year-ago quarter and a $0.18 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $11.80 is a $0.96 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $11.32 Billion. If reported, that would be a 11.97% increase over the year-ago quarter. More recently, Guggenheim Initiated LMT at Buy (Jan 20, 2016). Previously, RBC Capital Mkts upgraded LMT from Sector Perform to Outperform. Given all the information above, we should disclose to readers that the average price target is $235.20, which is 8.39% above than it opened this morning. See more in (NYSE:LMT) Similar Articles: 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 Stock Update: Lockheed Martin Corporation (NYSE:LMT) – U.S. approves $11.25 billion warship sale to Saudi Arabia
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