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Market Update (NYSE:LMT): Canadian firms could see civil work from fighter purchase: Boeing

[Reuters] – Planemaker Boeing Co (BA.N) could include civil aviation work opportunities for Canadian firms if the country were to purchase F/A-18E/F Super Hornets to replace its aging fighter jets, company executives said on Thursday. The new Liberal government promised during last year’s election that it would launch an open competition to replace Canada’s CF-18 fighter aircraft and pledged not to buy Lockheed Martin Corp’s (LMT.N) F-35 jets as the previous Conservative government had planned to do. Read more on this. Lockheed Martin Corporation (LMT) , valued at $73.07B, started the session at $239.79. Looking at today’s market, LMT one day range is $238.18 to $240.00 with a trailing 52-week range being $181.91 to $245.37. LMT shares are currently priced at 20.10x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 26.10x earnings multiple for the same period. The company pays shareholders $6.60 per share in dividend income per year, for a current yield of 2.77%. Consensus earnings for the current quarter by the 17 sell-side analysts covering the stock is an estimate of $2.92 per share, which would be $0.02 worse than the year-ago quarter and a $0.01 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $11.85 would be a $1.01 better 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 $12.57 Billion. If realized, that would be a 7.99% increase over the year-ago quarter. More recently, Berenberg downgraded LMT from Buy to Hold (May 31, 2016). Previously, RBC Capital Mkts downgraded LMT from Outperform to Sector Perform. With the above information in mind, readers should note that the average price target is $243.47, which is 1.53% above where the stock opened this morning. See more in (NYSE:LMT) Similar Articles: Market Update: Lockheed Martin Corporation (NYSE:LMT) – Boeing still hopes Denmark will buy its Super Hornet jets Market Update: Lockheed Martin Corporation (NYSE:LMT) – Denmark backs Lockheed Martin’s F-35 for $3 bln fighter jet deal Company Update: Lockheed Martin Corporation (NYSE:LMT) – U.S. okays sale of 8 Lockheed F-16 fighter jets to Pakistan -Pentagon
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