Zacks: Analysts Anticipate General Dynamics Corporation (GD) Will Announce Earnings of $2.38 Per Share
Wall Street brokerages forecast that General Dynamics Corporation (NYSE:GD) will report earnings of $2.38 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for General Dynamics’ earnings, with estimates ranging from $2.32 to $2.53. General Dynamics reported earnings of $2.62 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 9.2%. The firm is scheduled to issue its next earnings report on Friday, January 26th.
On average, analysts expect that General Dynamics will report full year earnings of $9.81 per share for the current financial year, with EPS estimates ranging from $9.75 to $9.86. For the next year, analysts forecast that the business will report earnings of $10.55 per share, with EPS estimates ranging from $9.94 to $10.90. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover General Dynamics.
General Dynamics (NYSE:GD) last announced its quarterly earnings data on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.43 by $0.09. General Dynamics had a net margin of 9.94% and a return on equity of 27.98%. The company had revenue of $7.58 billion during the quarter, compared to analysts’ expectations of $7.94 billion. During the same quarter in the prior year, the company earned $2.36 EPS. The firm’s revenue was down 1.0% on a year-over-year basis.
GD has been the subject of a number of research reports. Cowen Inc reaffirmed a “buy” rating and issued a $230.00 price objective on shares of General Dynamics in a research note on Thursday, October 19th. Zacks Investment Research raised shares of General Dynamics from a “hold” rating to a “buy” rating and set a $230.00 price objective for the company in a research note on Monday, October 2nd. ValuEngine raised shares of General Dynamics from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Jefferies Group LLC reiterated a “buy” rating on shares of General Dynamics in a report on Friday, August 11th. Finally, BidaskClub upgraded shares of General Dynamics from a “hold” rating to a “buy” rating in a report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $218.45.
Shares of General Dynamics (NYSE GD) traded down $0.13 during trading on Friday, hitting $200.00. 411,418 shares of the stock were exchanged, compared to its average volume of 1,050,000. General Dynamics has a 12 month low of $168.00 and a 12 month high of $214.81. The stock has a market cap of $59,700.00, a PE ratio of 19.86, a price-to-earnings-growth ratio of 2.40 and a beta of 0.73. The company has a quick ratio of 0.93, a current ratio of 1.37 and a debt-to-equity ratio of 0.34.
In other General Dynamics news, VP Gregory S. Gallopoulos sold 78,370 shares of the company’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $202.93, for a total value of $15,903,624.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Patrick Casey sold 34,945 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $201.38, for a total transaction of $7,037,224.10. Following the completion of the transaction, the insider now owns 144,378 shares of the company’s stock, valued at $29,074,841.64. The disclosure for this sale can be found here. Corporate insiders own 6.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of GD. BlackRock Inc. raised its holdings in General Dynamics by 2,645.5% in the 1st quarter. BlackRock Inc. now owns 15,509,344 shares of the aerospace company’s stock worth $2,903,351,000 after purchasing an additional 14,944,453 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of General Dynamics by 44,941.4% in the 2nd quarter. Janus Henderson Group PLC now owns 4,998,693 shares of the aerospace company’s stock worth $990,241,000 after acquiring an additional 4,987,595 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of General Dynamics by 2,097.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,711,597 shares of the aerospace company’s stock worth $353,351,000 after acquiring an additional 1,633,700 shares in the last quarter. Janus Capital Management LLC increased its stake in shares of General Dynamics by 22.1% in the 1st quarter. Janus Capital Management LLC now owns 4,148,390 shares of the aerospace company’s stock worth $776,563,000 after acquiring an additional 749,793 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in shares of General Dynamics by 4.5% in the 2nd quarter. Capital Research Global Investors now owns 16,792,408 shares of the aerospace company’s stock worth $3,326,576,000 after acquiring an additional 725,896 shares in the last quarter. Institutional investors and hedge funds own 85.22% of the company’s stock.
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General Dynamics Company Profile
General Dynamics Corporation is a global aerospace and defense company. The Company offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; information technology (IT) services and C4ISR (command, control, communications, computers, intelligence, surveillance and reconnaissance) solutions, and shipbuilding and ship repair.
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