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Stock Update: Lockheed Martin Corporation (NYSE:LMT) – Lockheed, Austal each win deals to build new U.S. Navy ships

[Reuters] – Lockheed Martin Corp and Australia’s Austal have each won contracts worth up to $564 million to build one Littoral Combat Ship (LCS) for the U.S. Navy, the U.S. Defense Department said on Thursday in its daily digest of arms deals. Austal’s contract covers construction of LCS 26, another of its Independence-variant LCS ships, integration, testing and equipment, with work to be completed by July 2020. Read more on this. Lockheed Martin Corporation (LMT) , valued at $67.67B, started the session at $222.65. Today, shares have traded between $221.09 and $223.33 per share with a one year range of $181.91 to $227.91. LMT shares are currently priced at 18.72x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 12.92x forward p/e ratio. And for dividend hunters, the company pays shareholders $6.60 per share annually in dividends, yielding 3.01%. In a review of the consensus earnings estimate this quarter, 17 sell-side analysts are looking at $2.59 per share, which would be $0.15 worse than the year-ago quarter and a $0.19 sequential decrease. The full-year EPS estimate is $11.79 which would be a $0.95 better than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $11.33 Billion. If reported, that would be a 12.07% 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. Investors should keep in mind is that the average price target is $237.06, which is 6.47% above where the stock opened this morning. See more in (NYSE:LMT) Similar Articles: Company Update: Lockheed Martin Corporation (NYSE:LMT) – Lockheed Martin to Accelerate Veterans Disability Claims Processing Stock Update: Lockheed Martin Corporation (NYSE:LMT) – Romania Increases Inventory of Lockheed Martin Radars Company Update: Lockheed Martin Corporation (NYSE:LMT) – Lockheed Martin Receives $528 Million THAAD Missile-Defense Contract
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