Stock Update: Lockheed Martin Corporation (NYSE:LMT) – Lockheed government IT unit to layoff close to 200 ahead of Leidos deal

[at American City Business Journals] – Bethesda-based Lockheed Martin Corp. plans to lay off “less than 200” workers in its information systems and global solutions segment, a company spokesman confirmed. “IS&GS did inform certain employees that they would be laid off this month,” said spokesman William Phelps. “While such decisions are always difficult, in order to reman competitive all of our business areas including IS&GS are continuously adjusting their staffing levels to match the customer needs.” The layoffs come just months after the division announced it was going to lay off 500 workers in the government IT segment in November 2015. Read more on this. Lockheed Martin Corporation (LMT) , with a current value of $69.06B, started trading this morning at $226.31. Looking at the stock, its one day range is $225.65 to $227.31 and has traded between $181.91 and $228.12 over the past year. Priced at 19.20x this year’s forecasted earnings, LMT shares are relatively inexpensive compared to the industry’s 22.04x forward p/e ratio. The company pays shareholders $6.60 per share annually in dividends, yielding 2.91%. According to a consensus of 18 analysts, the earnings estimate of $2.59 per share would be $0.15 worse than the year-ago quarter and a $0.19 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $11.80, which would be a $0.96 improvement when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $11.36 Billion. If realized, that would be a 12.36% increase over the year-ago quarter. More recently, Berenberg Initiated LMT at Buy (Mar 17, 2016). Previously, Guggenheim Initiated LMT at to Buy. When considering if perhaps the stock is under or overvalued, the average price target is $234.88, which is 3.79% above where the stock opened this morning. See more in (NYSE:LMT) Similar Articles: Stock Update: Lockheed Martin Corporation (NYSE:LMT) – Lockheed Martin Announces First Quarter 2016 Company Update: Lockheed Martin Corporation (NYSE:LMT) – Pentagon expects to reach $15 bln F-35 deal with Lockheed in March Stock Update (NYSE:LMT): Lockheed Martin separating unit, combining it with Leidos