Zacks: Brokerages Expect General Dynamics Co. (NYSE:GD) Will Post Quarterly Sales of $8.95 Billion

Equities analysts expect General Dynamics Co. (NYSE:GDGet Rating) to report sales of $8.95 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for General Dynamics’ earnings, with estimates ranging from $8.88 billion to $8.99 billion. General Dynamics reported sales of $9.39 billion in the same quarter last year, which would suggest a negative year over year growth rate of 4.7%. The company is expected to issue its next earnings report before the market opens on Monday, January 1st.

On average, analysts expect that General Dynamics will report full-year sales of $39.39 billion for the current fiscal year, with estimates ranging from $39.28 billion to $39.57 billion. For the next financial year, analysts forecast that the firm will report sales of $42.31 billion, with estimates ranging from $42.04 billion to $42.52 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for General Dynamics.

General Dynamics (NYSE:GDGet Rating) last posted its quarterly earnings results on Wednesday, January 26th. The aerospace company reported $3.39 earnings per share for the quarter, topping the consensus estimate of $3.37 by $0.02. General Dynamics had a return on equity of 20.35% and a net margin of 8.47%. The company had revenue of $10.29 billion for the quarter, compared to the consensus estimate of $10.69 billion. During the same quarter in the prior year, the business posted $3.49 EPS. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year.

Several analysts have commented on the company. Wells Fargo & Company increased their target price on General Dynamics from $235.00 to $282.00 and gave the company an “overweight” rating in a research note on Monday, March 7th. Wolfe Research upgraded General Dynamics from an “underperform” rating to a “peer perform” rating in a research note on Friday, January 28th. StockNews.com assumed coverage on General Dynamics in a report on Thursday, March 31st. They set a “buy” rating on the stock. Finally, Morgan Stanley increased their price target on General Dynamics from $215.00 to $243.00 and gave the company an “equal weight” rating in a report on Wednesday, March 2nd. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, General Dynamics currently has an average rating of “Buy” and a consensus price target of $230.00.

Shares of GD opened at $243.74 on Wednesday. The business’s fifty day simple moving average is $232.32 and its two-hundred day simple moving average is $213.99. The company has a current ratio of 1.43, a quick ratio of 1.05 and a debt-to-equity ratio of 0.59. General Dynamics has a 12 month low of $182.43 and a 12 month high of $254.99. The company has a market cap of $67.79 billion, a price-to-earnings ratio of 21.10, a P/E/G ratio of 2.09 and a beta of 1.01.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 6th. Investors of record on Friday, April 8th will be issued a $1.26 dividend. This is a boost from General Dynamics’s previous quarterly dividend of $1.19. This represents a $5.04 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Thursday, April 7th. General Dynamics’s dividend payout ratio (DPR) is currently 43.64%.

In other news, VP William A. Moss sold 2,391 shares of the firm’s stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $237.17, for a total transaction of $567,073.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of the company. Costello Asset Management INC purchased a new position in General Dynamics in the fourth quarter worth about $26,000. Future Financial Wealth Managment LLC purchased a new position in General Dynamics in the fourth quarter worth about $29,000. Dixon Hughes Goodman Wealth Advisors LLC purchased a new position in General Dynamics in the fourth quarter worth about $29,000. Wagner Wealth Management LLC grew its position in General Dynamics by 71.6% in the fourth quarter. Wagner Wealth Management LLC now owns 139 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 58 shares in the last quarter. Finally, Tyler Stone Wealth Management purchased a new position in General Dynamics in the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 85.02% of the company’s stock.

General Dynamics Company Profile (Get Rating)

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four segments: Aerospace, Marine Systems, Combat Systems, and Technologies. The Aerospace segment designs, manufactures, and sells business jets; and offers aircraft maintenance and repair, management, charter, aircraft-on-ground support and completion, staffing, and fixed-base operator services.

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Earnings History and Estimates for General Dynamics (NYSE:GD)

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