General Dynamics (NYSE:GD – Get Free Report) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 14.000-14.000 for the period, compared to the consensus earnings per share estimate of 14.180. The company issued revenue guidance of $48.0 billion-$48.0 billion, compared to the consensus revenue estimate of $47.6 billion. General Dynamics also updated its FY24 guidance to $14.00 EPS.
General Dynamics Stock Down 1.0 %
Shares of NYSE:GD traded down $3.13 during midday trading on Thursday, hitting $301.27. 1,113,867 shares of the company’s stock traded hands, compared to its average volume of 1,093,167. The firm’s fifty day moving average price is $300.17 and its two-hundred day moving average price is $294.55. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.80 and a current ratio of 1.33. General Dynamics has a twelve month low of $236.58 and a twelve month high of $313.11. The company has a market cap of $82.66 billion, a PE ratio of 24.57, a P/E/G ratio of 1.67 and a beta of 0.61.
General Dynamics (NYSE:GD – Get Free Report) last issued its earnings results on Wednesday, October 23rd. The aerospace company reported $3.35 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.13). The company had revenue of $11.67 billion during the quarter, compared to analysts’ expectations of $11.65 billion. General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. General Dynamics’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.04 EPS. On average, equities research analysts anticipate that General Dynamics will post 14.38 EPS for the current fiscal year.
General Dynamics Dividend Announcement
Analyst Upgrades and Downgrades
GD has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. TD Cowen raised General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Sanford C. Bernstein decreased their price target on shares of General Dynamics from $343.00 to $331.00 and set a “market perform” rating for the company in a research report on Thursday. Wells Fargo & Company upped their price target on shares of General Dynamics from $317.00 to $322.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Barclays increased their price objective on shares of General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, General Dynamics presently has a consensus rating of “Moderate Buy” and a consensus price target of $322.76.
Insider Transactions at General Dynamics
In related news, Director Peter A. Wall sold 1,320 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total transaction of $406,626.00. Following the completion of the transaction, the director now directly owns 3,592 shares in the company, valued at $1,106,515.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.52% of the company’s stock.
About General Dynamics
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 produces and sells business jets; and offers aircraft maintenance and repair, management, aircraft-on-ground support and completion, charter, staffing, and fixed-base operator services.
Further Reading
- Five stocks we like better than General Dynamics
- What Investors Must Know About Over-the-Counter (OTC) Stocks
- Why Meta’s Pre-Earnings Dip Could Be A Golden Entry Opportunity
- Dividend Capture Strategy: What You Need to Know
- Spirit Airlines Stock Nearly Doubled: Are Clear Skies Ahead?
- What Is WallStreetBets and What Stocks Are They Targeting?
- Tesla Stock: Buy the Dips, Sell the Rips
Receive News & Ratings for General Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.