Brokerages Anticipate General Dynamics Corporation (GD) Will Post Earnings of $2.42 Per Share
Wall Street analysts predict that General Dynamics Corporation (NYSE:GD) will report earnings per share (EPS) of $2.42 for the current fiscal quarter, Zacks reports. Five analysts have made estimates for General Dynamics Corporation’s earnings. The highest EPS estimate is $2.50 and the lowest is $2.38. General Dynamics Corporation posted earnings of $2.48 per share during the same quarter last year, which suggests a negative year over year growth rate of 2.4%. The company is expected to announce its next quarterly earnings results on Wednesday, October 25th.
On average, analysts expect that General Dynamics Corporation will report full-year earnings of $9.79 per share for the current financial year, with EPS estimates ranging from $9.73 to $9.85. For the next financial year, analysts forecast that the business will post earnings of $10.62 per share, with EPS estimates ranging from $10.40 to $10.90. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow General Dynamics Corporation.
General Dynamics Corporation (NYSE:GD) last issued its quarterly earnings data on Wednesday, July 26th. The aerospace company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.43 by $0.02. The company had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $7.76 billion. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. General Dynamics Corporation’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.30 earnings per share.
Several equities analysts have recently weighed in on GD shares. Zacks Investment Research cut shares of General Dynamics Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. ValuEngine raised shares of General Dynamics Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub lowered shares of General Dynamics Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 27th. Berenberg Bank began coverage on shares of General Dynamics Corporation in a report on Wednesday, July 12th. They issued a “buy” rating and a $230.00 target price for the company. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $220.00 target price on shares of General Dynamics Corporation in a report on Friday, July 7th. Two analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $206.59.
Institutional investors and hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC grew its holdings in General Dynamics Corporation by 6.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 645 shares of the aerospace company’s stock valued at $110,000 after buying an additional 37 shares in the last quarter. Vantage Investment Advisors LLC grew its holdings in General Dynamics Corporation by 9.3% during the 2nd quarter. Vantage Investment Advisors LLC now owns 585 shares of the aerospace company’s stock valued at $116,000 after buying an additional 50 shares in the last quarter. Ruggie Capital Group purchased a new stake in General Dynamics Corporation during the 1st quarter valued at approximately $119,000. Captrust Financial Advisors purchased a new stake in General Dynamics Corporation during the 2nd quarter valued at approximately $129,000. Finally, WFG Advisors LP grew its holdings in General Dynamics Corporation by 0.3% during the 2nd quarter. WFG Advisors LP now owns 668 shares of the aerospace company’s stock valued at $132,000 after buying an additional 2 shares in the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.
General Dynamics Corporation (GD) opened at 197.87 on Friday. The stock has a market cap of $59.32 billion, a PE ratio of 19.55 and a beta of 0.71. General Dynamics Corporation has a 52 week low of $148.76 and a 52 week high of $205.90. The company’s 50-day moving average is $199.26 and its 200 day moving average is $195.94.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Thursday, October 5th. General Dynamics Corporation’s dividend payout ratio (DPR) is currently 34.57%.
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General Dynamics Corporation 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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