$9.11 Billion in Sales Expected for General Dynamics Co. (GD) This Quarter

Share on StockTwits

Equities analysts forecast that General Dynamics Co. (NYSE:GD) will announce sales of $9.11 billion for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for General Dynamics’ earnings. The lowest sales estimate is $9.03 billion and the highest is $9.20 billion. General Dynamics posted sales of $7.68 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 18.6%. The business is expected to announce its next earnings report on Wednesday, July 25th.

According to Zacks, analysts expect that General Dynamics will report full year sales of $35.79 billion for the current fiscal year, with estimates ranging from $35.01 billion to $36.09 billion. For the next year, analysts forecast that the business will post sales of $39.49 billion per share, with estimates ranging from $39.15 billion to $39.98 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow General Dynamics.

General Dynamics (NYSE:GD) last posted its earnings results on Wednesday, April 25th. The aerospace company reported $2.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.49 by $0.16. General Dynamics had a net margin of 9.49% and a return on equity of 26.83%. The firm had revenue of $7.50 billion during the quarter, compared to the consensus estimate of $7.56 billion. During the same quarter last year, the firm earned $2.48 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis.

A number of research firms have recently commented on GD. ValuEngine lowered shares of General Dynamics from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Royal Bank of Canada reaffirmed a “buy” rating and issued a $263.00 target price on shares of General Dynamics in a report on Friday, April 6th. Credit Suisse Group reduced their target price on General Dynamics from $263.00 to $234.00 in a report on Tuesday, May 22nd. Cowen reaffirmed an “outperform” rating and issued a $253.00 target price (up from $230.00) on shares of General Dynamics in a report on Monday, February 26th. Finally, JPMorgan Chase & Co. initiated coverage on General Dynamics in a report on Wednesday, April 4th. They issued an “underweight” rating on the stock. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. General Dynamics has a consensus rating of “Hold” and an average price target of $240.53.

Shares of GD stock traded up $0.95 during trading hours on Thursday, reaching $189.38. The stock had a trading volume of 1,703,453 shares, compared to its average volume of 1,520,576. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.34. General Dynamics has a twelve month low of $187.31 and a twelve month high of $230.00. The stock has a market cap of $55.97 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 1.76 and a beta of 0.83.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 10th. Shareholders of record on Friday, July 6th will be paid a dividend of $0.93 per share. The ex-dividend date of this dividend is Thursday, July 5th. This represents a $3.72 annualized dividend and a yield of 1.96%. General Dynamics’s payout ratio is currently 37.39%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Captrust Financial Advisors bought a new stake in General Dynamics during the 4th quarter worth about $165,000. Eaton Vance Management boosted its holdings in General Dynamics by 2.9% during the first quarter. Eaton Vance Management now owns 158,687 shares of the aerospace company’s stock worth $35,054,000 after buying an additional 4,485 shares in the last quarter. JT Stratford LLC boosted its holdings in General Dynamics by 3.1% during the fourth quarter. JT Stratford LLC now owns 14,214 shares of the aerospace company’s stock worth $2,892,000 after buying an additional 421 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in General Dynamics during the fourth quarter worth about $18,616,000. Finally, LPL Financial LLC boosted its holdings in General Dynamics by 8.2% during the fourth quarter. LPL Financial LLC now owns 74,092 shares of the aerospace company’s stock worth $15,074,000 after buying an additional 5,631 shares in the last quarter. 85.99% of the stock is currently owned by institutional investors.

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.

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.

Leave a Reply