Wall Street brokerages expect that General Dynamics Co. (NYSE:GD) will post earnings of $2.97 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for General Dynamics’ earnings. The highest EPS estimate is $2.99 and the lowest is $2.83. General Dynamics reported earnings of $2.50 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 18.8%. The company is expected to announce its next earnings results on Wednesday, January 23rd.
On average, analysts expect that General Dynamics will report full year earnings of $11.14 per share for the current fiscal year, with EPS estimates ranging from $11.09 to $11.15. For the next year, analysts expect that the company will post earnings of $12.10 per share, with EPS estimates ranging from $11.70 to $12.30. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that cover General Dynamics.
General Dynamics (NYSE:GD) last released its quarterly earnings results on Wednesday, October 24th. The aerospace company reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.13. General Dynamics had a return on equity of 27.22% and a net margin of 9.01%. The firm had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $9.41 billion. During the same quarter last year, the business posted $2.52 EPS. The firm’s quarterly revenue was up 20.0% compared to the same quarter last year.
GD has been the topic of several analyst reports. UBS Group started coverage on General Dynamics in a research note on Wednesday, August 15th. They issued a “neutral” rating and a $210.00 target price on the stock. Drexel Hamilton reissued a “buy” rating and issued a $230.00 price target on shares of General Dynamics in a report on Thursday, August 16th. Zacks Investment Research cut General Dynamics from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. Cowen reissued a “buy” rating and issued a $253.00 price target on shares of General Dynamics in a report on Monday, October 15th. Finally, Wells Fargo & Co reduced their price target on General Dynamics from $250.00 to $210.00 and set an “outperform” rating for the company in a report on Thursday, October 25th. Three analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $227.44.
In other General Dynamics news, insider John Patrick Casey sold 22,500 shares of the business’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $193.28, for a total transaction of $4,348,800.00. Following the completion of the sale, the insider now owns 118,555 shares of the company’s stock, valued at $22,914,310.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark Malcolm purchased 3,000 shares of the stock in a transaction on Friday, October 26th. The shares were purchased at an average cost of $169.87 per share, with a total value of $509,610.00. Following the transaction, the director now owns 4,455 shares of the company’s stock, valued at approximately $756,770.85. The disclosure for this purchase can be found here. Company insiders own 6.70% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. CSat Investment Advisory L.P. acquired a new position in shares of General Dynamics during the second quarter worth about $101,000. Zions Bancorporation acquired a new position in shares of General Dynamics in the third quarter worth about $109,000. Fort L.P. acquired a new position in shares of General Dynamics in the second quarter worth about $117,000. Ruggie Capital Group acquired a new position in shares of General Dynamics in the second quarter worth about $122,000. Finally, Ffcm LLC lifted its stake in shares of General Dynamics by 504.1% in the third quarter. Ffcm LLC now owns 53,032 shares of the aerospace company’s stock worth $126,000 after acquiring an additional 44,253 shares in the last quarter. 86.38% of the stock is owned by hedge funds and other institutional investors.
Shares of GD stock opened at $171.02 on Tuesday. General Dynamics has a twelve month low of $164.76 and a twelve month high of $230.00. The company has a market capitalization of $51.29 billion, a price-to-earnings ratio of 17.19, a P/E/G ratio of 1.44 and a beta of 0.98. The company has a current ratio of 1.27, a quick ratio of 0.87 and a debt-to-equity ratio of 0.89.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 8th. Shareholders of record on Friday, January 18th will be given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 2.18%. General Dynamics’s payout ratio is 37.39%.
About General Dynamics
General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.
Featured Article: What is intrinsic value?
Get a free copy of the Zacks research report on General Dynamics (GD)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for General Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.