Zacks: Analysts Anticipate General Dynamics Corporation (GD) to Post $2.38 Earnings Per Share

Wall Street brokerages expect General Dynamics Corporation (NYSE:GD) to announce earnings per share of $2.38 for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for General Dynamics’ earnings, with the highest EPS estimate coming in at $2.53 and the lowest estimate coming in at $2.32. General Dynamics posted earnings per share of $2.62 in the same quarter last year, which indicates a negative year-over-year growth rate of 9.2%. The business is scheduled to issue its next quarterly earnings report on Friday, January 26th.

According to Zacks, analysts expect that General Dynamics will report full-year earnings of $9.81 per share for the current fiscal year, with EPS estimates ranging from $9.75 to $9.86. For the next financial year, analysts expect that the business will post earnings of $10.54 per share, with EPS estimates ranging from $9.94 to $10.90. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover General Dynamics.

General Dynamics (NYSE:GD) last posted its quarterly earnings results on Wednesday, October 25th. The aerospace company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.09. The business had revenue of $7.58 billion during the quarter, compared to analyst estimates of $7.94 billion. General Dynamics had a return on equity of 27.98% and a net margin of 9.94%. The business’s revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.36 earnings per share.

GD has been the subject of a number of analyst reports. Cowen restated a “buy” rating and issued a $230.00 price target on shares of General Dynamics in a research report on Thursday, October 19th. Jefferies Group restated a “buy” rating and issued a $236.00 price target on shares of General Dynamics in a research report on Thursday, October 26th. Zacks Investment Research upgraded General Dynamics from a “hold” rating to a “buy” rating and set a $238.00 price target for the company in a research report on Thursday, October 26th. ValuEngine upgraded General Dynamics from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Royal Bank of Canada set a $239.00 price target on General Dynamics and gave the company a “buy” rating in a research report on Wednesday, November 15th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $218.24.

General Dynamics (NYSE:GD) traded up $2.62 during mid-day trading on Wednesday, hitting $198.84. The stock had a trading volume of 1,691,110 shares, compared to its average volume of 1,124,808. The company has a quick ratio of 0.93, a current ratio of 1.37 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $58,587.94, a price-to-earnings ratio of 19.49, a PEG ratio of 2.35 and a beta of 0.72. General Dynamics has a 1-year low of $171.65 and a 1-year high of $214.81.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 19th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Thursday, January 18th. General Dynamics’s dividend payout ratio (DPR) is 33.50%.

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 stock was sold at an average price of $202.93, for a total transaction of $15,903,624.10. The transaction was disclosed in a legal filing with the SEC, 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 value of $7,037,224.10. Following the transaction, the insider now owns 144,378 shares in the company, valued at $29,074,841.64. The disclosure for this sale can be found here. 6.70% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of General Dynamics by 1.9% in the second quarter. Vanguard Group Inc. now owns 20,176,505 shares of the aerospace company’s stock valued at $3,996,966,000 after acquiring an additional 376,688 shares in the last quarter. Capital Research Global Investors raised its stake in shares of General Dynamics by 4.5% in the second quarter. Capital Research Global Investors now owns 16,792,408 shares of the aerospace company’s stock valued at $3,326,576,000 after acquiring an additional 725,896 shares in the last quarter. BlackRock Inc. raised its stake in shares of General Dynamics by 5.3% in the second quarter. BlackRock Inc. now owns 16,338,831 shares of the aerospace company’s stock valued at $3,236,720,000 after acquiring an additional 829,487 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of General Dynamics by 6.1% in the third quarter. Janus Henderson Group PLC now owns 5,302,868 shares of the aerospace company’s stock valued at $1,090,164,000 after acquiring an additional 304,175 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of General Dynamics by 1.9% in the second quarter. Franklin Resources Inc. now owns 3,786,244 shares of the aerospace company’s stock valued at $750,055,000 after acquiring an additional 71,287 shares in the last quarter. Institutional investors own 86.87% of the company’s stock.

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About General Dynamics

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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