Zacks: Analysts Anticipate General Dynamics Corporation (GD) Will Post Quarterly Sales of $7.89 Billion

Wall Street brokerages expect that General Dynamics Corporation (NYSE:GD) will post $7.89 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for General Dynamics Corporation’s earnings. The highest sales estimate is $8.02 billion and the lowest is $7.69 billion. General Dynamics Corporation posted sales of $7.73 billion during the same quarter last year, which would suggest a positive year over year growth rate of 2.1%. The firm is expected to issue its next earnings results before the market opens on Wednesday, October 25th.

According to Zacks, analysts expect that General Dynamics Corporation will report full year sales of $7.89 billion for the current year, with estimates ranging from $30.95 billion to $31.36 billion. For the next fiscal year, analysts forecast that the business will post sales of $32.91 billion per share, with estimates ranging from $32.48 billion to $33.37 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow General Dynamics Corporation.

General Dynamics Corporation (NYSE:GD) last posted its earnings results on Wednesday, July 26th. The aerospace company reported $2.45 EPS for the quarter, beating 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 return on equity of 28.17% and a net margin of 9.63%. The business’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period last year, the company earned $2.30 earnings per share.

GD has been the subject of several research analyst reports. Jefferies Group LLC reaffirmed a “buy” rating on shares of General Dynamics Corporation in a research note on Friday, August 11th. Deutsche Bank AG reissued a “hold” rating and issued a $210.00 target price (up previously from $200.00) on shares of General Dynamics Corporation in a research note on Monday, October 2nd. BidaskClub raised General Dynamics Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, August 8th. Zacks Investment Research lowered General Dynamics Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Finally, Citigroup Inc. reissued a “neutral” rating and issued a $210.00 target price (up previously from $207.00) on shares of General Dynamics Corporation in a research note on Friday, August 11th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $209.45.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pathstone Family Office LLC raised its position in General Dynamics Corporation by 100.0% during the 2nd quarter. Pathstone Family Office LLC now owns 24 shares of the aerospace company’s stock valued at $4,754,000 after purchasing an additional 12 shares during the last quarter. Vantage Investment Advisors LLC raised its position in General Dynamics Corporation by 9.3% during the 2nd quarter. Vantage Investment Advisors LLC now owns 585 shares of the aerospace company’s stock valued at $116,000 after purchasing an additional 50 shares during the last quarter. Ruggie Capital Group bought a new position in General Dynamics Corporation during the 1st quarter valued at approximately $119,000. Quadrant Capital Group LLC raised its position in General Dynamics Corporation by 6.1% during the 2nd 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 during the last quarter. Finally, Captrust Financial Advisors bought a new position in General Dynamics Corporation during the 2nd quarter valued at approximately $129,000. 86.17% of the stock is owned by institutional investors and hedge funds.

General Dynamics Corporation (GD) opened at 210.39 on Thursday. General Dynamics Corporation has a 52-week low of $148.76 and a 52-week high of $214.81. The firm has a 50-day moving average price of $205.46 and a 200 day moving average price of $199.44. The company has a market capitalization of $63.07 billion, a P/E ratio of 20.79 and a beta of 0.72.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Thursday, October 5th. General Dynamics Corporation’s payout ratio is 34.57%.

General Dynamics Corporation Company Profile

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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