Wall Street brokerages predict that General Dynamics Co. (NYSE:GD) will post $8.99 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for General Dynamics’ earnings. The lowest sales estimate is $8.72 billion and the highest is $9.22 billion. General Dynamics reported sales of $8.75 billion during the same quarter last year, which indicates a positive year over year growth rate of 2.7%. The business is expected to issue its next quarterly earnings report on Wednesday, May 5th.
On average, analysts expect that General Dynamics will report full year sales of $38.83 billion for the current year, with estimates ranging from $38.78 billion to $38.89 billion. For the next fiscal year, analysts forecast that the firm will post sales of $40.54 billion, with estimates ranging from $40.12 billion to $41.02 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for General Dynamics.
General Dynamics (NYSE:GD) last posted its earnings results on Tuesday, January 26th. The aerospace company reported $3.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.54 by ($0.05). General Dynamics had a net margin of 8.33% and a return on equity of 23.00%. The company had revenue of $10.48 billion during the quarter, compared to analysts’ expectations of $10.76 billion. During the same quarter last year, the firm earned $3.51 EPS. General Dynamics’s revenue for the quarter was down 2.7% on a year-over-year basis.
Several equities analysts have issued reports on GD shares. Wolfe Research lowered General Dynamics from an “outperform” rating to an “underperform” rating in a research note on Thursday. Barclays restated a “buy” rating on shares of General Dynamics in a research note on Friday, April 2nd. Cowen boosted their price target on General Dynamics from $183.00 to $210.00 and gave the stock an “outperform” rating in a research note on Monday, March 29th. Zacks Investment Research lowered General Dynamics from a “hold” rating to a “sell” rating and set a $196.00 price target on the stock. in a research note on Wednesday, April 7th. Finally, Morgan Stanley dropped their price target on General Dynamics from $161.00 to $149.00 and set an “underweight” rating on the stock in a research note on Monday, February 8th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. General Dynamics has an average rating of “Hold” and a consensus target price of $169.06.
GD traded up $2.03 on Friday, hitting $185.03. The company had a trading volume of 21,307 shares, compared to its average volume of 1,363,990. The stock has a fifty day moving average price of $174.31 and a 200-day moving average price of $154.83. General Dynamics has a 12-month low of $121.67 and a 12-month high of $186.00. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.90 and a current ratio of 1.29. The stock has a market capitalization of $52.47 billion, a price-to-earnings ratio of 16.71, a P/E/G ratio of 2.40 and a beta of 1.03.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 7th. Shareholders of record on Friday, April 9th will be issued a $1.19 dividend. The ex-dividend date is Thursday, April 8th. This is an increase from General Dynamics’s previous quarterly dividend of $1.10. This represents a $4.76 dividend on an annualized basis and a yield of 2.57%. General Dynamics’s payout ratio is presently 39.73%.
Large investors have recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of General Dynamics by 0.9% in the fourth quarter. BlackRock Inc. now owns 13,979,841 shares of the aerospace company’s stock valued at $2,080,481,000 after buying an additional 129,279 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of General Dynamics by 2.6% in the fourth quarter. Wells Fargo & Company MN now owns 7,291,507 shares of the aerospace company’s stock valued at $1,085,122,000 after buying an additional 184,935 shares in the last quarter. Aristotle Capital Management LLC increased its position in shares of General Dynamics by 6.3% in the fourth quarter. Aristotle Capital Management LLC now owns 3,731,572 shares of the aerospace company’s stock valued at $552,743,000 after buying an additional 219,626 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of General Dynamics by 20.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,148,612 shares of the aerospace company’s stock valued at $468,576,000 after buying an additional 534,628 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of General Dynamics in the fourth quarter valued at approximately $398,843,000. 84.48% of the stock is owned by institutional investors.
General Dynamics Company Profile
General Dynamics Corp. is an aerospace and defense company, which engages in the provision of tanks, rockets, missiles, submarines, warships, fighters and electronics to all of the military services. It operates through the following segments: Aerospace, Combat Systems, Information Technology, and Marine Systems.
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