Wall Street brokerages forecast that General Dynamics Corporation (NYSE:GD) will report $2.42 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for General Dynamics Corporation’s earnings, with the highest EPS estimate coming in at $2.50 and the lowest estimate coming in at $2.38. General Dynamics Corporation posted earnings per share of $2.48 in the same quarter last year, which would suggest a negative year-over-year growth rate of 2.4%. The firm is expected to issue its next earnings report before the market opens on Wednesday, October 25th.
On average, analysts expect that General Dynamics Corporation will report full-year earnings of $9.80 per share for the current year, with EPS estimates ranging from $9.73 to $9.86. For the next financial year, analysts forecast that the firm will post earnings of $10.58 per share, with EPS estimates ranging from $10.13 to $10.90. Zacks’ EPS calculations are a mean average based on a survey of research firms that that provide coverage for General Dynamics Corporation.
General Dynamics Corporation (NYSE:GD) last posted its earnings results on Wednesday, July 26th. The aerospace company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.02. The firm had revenue of $7.68 billion during the quarter, compared to the consensus estimate of $7.76 billion. General Dynamics Corporation had a net margin of 9.63% and a return on equity of 28.17%. The company’s revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the company earned $2.30 earnings per share.
A number of equities research analysts have issued reports on GD shares. Zacks Investment Research lowered shares of General Dynamics Corporation from a “buy” rating to a “hold” rating in a report on Monday. Citigroup Inc. reaffirmed a “neutral” rating and set a $215.00 price objective (up from $210.00) on shares of General Dynamics Corporation in a report on Monday, October 9th. ValuEngine lowered shares of General Dynamics Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Deutsche Bank AG reaffirmed a “hold” rating and set a $210.00 price objective (up from $200.00) on shares of General Dynamics Corporation in a report on Monday, October 2nd. Finally, BidaskClub raised shares of General Dynamics Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $209.45.
Several hedge funds have recently bought and sold shares of GD. Quadrant Capital Group LLC grew its holdings in shares of General Dynamics Corporation by 6.1% in the second quarter. Quadrant Capital Group LLC now owns 645 shares of the aerospace company’s stock valued at $110,000 after purchasing an additional 37 shares in the last quarter. Vantage Investment Advisors LLC boosted its stake in General Dynamics Corporation by 9.3% during the second quarter. Vantage Investment Advisors LLC now owns 585 shares of the aerospace company’s stock worth $116,000 after buying an additional 50 shares during the period. Ruggie Capital Group purchased a new position in General Dynamics Corporation during the first quarter worth $119,000. Captrust Financial Advisors purchased a new position in General Dynamics Corporation during the second quarter worth $129,000. Finally, WFG Advisors LP boosted its stake in General Dynamics Corporation by 0.3% during the second quarter. WFG Advisors LP now owns 668 shares of the aerospace company’s stock worth $132,000 after buying an additional 2 shares during the period. 86.17% of the stock is owned by hedge funds and other institutional investors.
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General Dynamics Corporation (NYSE:GD) traded down 0.89% during trading on Tuesday, hitting $211.54. 769,992 shares of the stock traded hands. The company has a market cap of $63.42 billion, a P/E ratio of 20.90 and a beta of 0.72. The firm has a 50-day moving average price of $204.55 and a 200 day moving average price of $199.01. General Dynamics Corporation has a 52-week low of $148.76 and a 52-week high of $214.81.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date is Thursday, October 5th. General Dynamics Corporation’s dividend payout ratio (DPR) is presently 34.57%.
About General Dynamics Corporation
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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