Stock Update (NYSE:LMT): Sikorsky and Babcock Sign 10-Year Support Agreement for S-92® Helicopter

[PR Newswire] – FARNBOROUGH, England, July 11, 2016 /PRNewswire/ — Sikorsky and Babcock Mission Critical Services Ltd. today signed a 10-year agreement providing Babcock’s S-92® helicopter fleet with extended support for its aftermarket material needs. Sikorsky’s Total Assurance Program provides Babcock continued aftermarket support to operate its S-92 fleet within a known budget, reducing the risk of unplanned costs. Babcock MCS Ltd. is a division of Babcock International Group plc. Sikorsky is a Lockheed Martin Company (LMT). Read more on this. Lockheed Martin Corporation (LMT) , valued at $77.98B, began trading this morning at $252.38. Looking at today’s trading action, the company’s one day range from $251.96 to $256.27 with a trailing 52-week range being $181.91 to $256.27. LMT shares are currently priced at 21.26x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 21.99x earnings multiple. And for dividend hunters, the company pays shareholders $6.60 per share annually in dividends, yielding 2.62%. Consensus earnings for the current quarter by the 16 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 $0.00 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $11.85, which would be a $0.53 improvement when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $12.56 Billion. If reported, that would be a 7.90% 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. The average price target for LMT shares by the analysts covering the stock is $244.29, which is 3.21% below where the stock opened this morning. See more in (NYSE:LMT) Similar Articles: Market Update: Lockheed Martin Corporation (NYSE:LMT) – Sikorsky Conducts Combat Rescue Helicopter (CRH) Air Vehicle Preliminary Design Review (PDR) Market Update: Lockheed Martin Corporation (NYSE:LMT) – Sikorsky Recognizes Bristow for Outstanding S-92® Helicopter Rescue Accomplishments Company Update: Lockheed Martin Corporation (NYSE:LMT) – Thai Aviation Services Selects Fleet of Sikorsky Helicopters to Support Gulf of Thailand Operations
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