General Dynamics Co. (NYSE:GD) Expected to Announce Earnings of $2.72 Per Share

Wall Street brokerages expect that General Dynamics Co. (NYSE:GD) will post earnings per share of $2.72 for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for General Dynamics’ earnings. The highest EPS estimate is $2.91 and the lowest is $2.60. General Dynamics reported earnings per share of $2.82 in the same quarter last year, which suggests a negative year over year growth rate of 3.5%. The business is expected to issue its next quarterly earnings results on Wednesday, July 24th.

On average, analysts expect that General Dynamics will report full-year earnings of $11.76 per share for the current year, with EPS estimates ranging from $11.67 to $11.85. For the next year, analysts forecast that the company will report earnings of $13.03 per share, with EPS estimates ranging from $12.40 to $13.35. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for General Dynamics.

General Dynamics (NYSE:GD) last released its earnings results on Wednesday, April 24th. The aerospace company reported $2.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.38 by $0.18. The company had revenue of $9.26 billion for the quarter, compared to analyst estimates of $8.90 billion. General Dynamics had a net margin of 8.68% and a return on equity of 27.62%. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.65 EPS.

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of General Dynamics from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $188.00 to $200.00 in a report on Thursday, April 25th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of General Dynamics from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. Cowen reiterated a “buy” rating on shares of General Dynamics in a report on Wednesday, March 6th. Credit Suisse Group lowered shares of General Dynamics from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $190.00 to $184.00 in a report on Friday, February 15th. Finally, Goldman Sachs Group upgraded shares of General Dynamics from a “neutral” rating to a “buy” rating and set a $204.00 price objective on the stock in a report on Sunday, May 19th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $197.22.

In related news, EVP John Patrick Casey sold 45,470 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $172.46, for a total value of $7,841,756.20. Following the transaction, the executive vice president now owns 148,133 shares in the company, valued at $25,547,017.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 7.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of GD. Virtu Financial LLC grew its position in General Dynamics by 63.0% in the first quarter. Virtu Financial LLC now owns 8,155 shares of the aerospace company’s stock valued at $1,380,000 after acquiring an additional 3,151 shares in the last quarter. U S Global Investors Inc. grew its position in General Dynamics by 3.4% in the fourth quarter. U S Global Investors Inc. now owns 15,151 shares of the aerospace company’s stock valued at $2,382,000 after acquiring an additional 499 shares in the last quarter. United Services Automobile Association grew its position in General Dynamics by 5.4% in the fourth quarter. United Services Automobile Association now owns 136,689 shares of the aerospace company’s stock valued at $21,489,000 after acquiring an additional 6,985 shares in the last quarter. Somerset Trust Co grew its position in General Dynamics by 0.5% in the first quarter. Somerset Trust Co now owns 13,039 shares of the aerospace company’s stock valued at $2,208,000 after acquiring an additional 69 shares in the last quarter. Finally, CSat Investment Advisory L.P. grew its position in General Dynamics by 14.2% in the fourth quarter. CSat Investment Advisory L.P. now owns 684 shares of the aerospace company’s stock valued at $108,000 after acquiring an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 86.48% of the company’s stock.

NYSE:GD traded up $0.31 on Wednesday, reaching $170.04. The stock had a trading volume of 585,494 shares, compared to its average volume of 1,353,863. The firm has a market cap of $48.75 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 1.66 and a beta of 1.15. The company has a current ratio of 1.23, a quick ratio of 0.82 and a debt-to-equity ratio of 0.94. General Dynamics has a 12-month low of $143.87 and a 12-month high of $207.72.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be issued a $1.02 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $4.08 annualized dividend and a yield of 2.40%. General Dynamics’s payout ratio is 35.73%.

General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates in five segments: Aerospace, Combat Systems, Information Technology, Mission Systems, and Marine Systems. The Aerospace segment designs, manufactures, and supports business-jet aircraft; and offers business-aviation services, including maintenance, fixed-base operation, government fleet, aircraft management, charter, and staffing services, as well as integrated aviation solutions.

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

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