General Dynamics (GD) Scheduled to Post Quarterly Earnings on Wednesday

General Dynamics (NYSE:GD) is scheduled to be releasing its earnings data before the market opens on Wednesday, October 23rd. Analysts expect General Dynamics to post earnings of $3.76 per share for the quarter. General Dynamics has set its FY24 guidance at $14.40-14.50 EPS.Parties that wish to listen to the company’s conference call can do so using this link.

General Dynamics (NYSE:GD) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). General Dynamics had a net margin of 7.89% and a return on equity of 16.74%. The firm had revenue of $11.98 billion for the quarter, compared to the consensus estimate of $11.46 billion. During the same quarter last year, the firm earned $2.70 EPS. The company’s revenue was up 18.0% on a year-over-year basis. On average, analysts expect General Dynamics to post $14 EPS for the current fiscal year and $16 EPS for the next fiscal year.

General Dynamics Price Performance

GD stock opened at $308.22 on Tuesday. The stock has a market cap of $84.56 billion, a PE ratio of 25.14, a P/E/G ratio of 1.67 and a beta of 0.61. General Dynamics has a 12 month low of $232.29 and a 12 month high of $310.85. The company has a 50-day moving average price of $299.68 and a 200 day moving average price of $294.41. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33.

General Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 11th will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 46.33%.

Insider Activity

In related news, Director Peter A. Wall sold 1,320 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $308.05, for a total value of $406,626.00. Following the completion of the transaction, the director now owns 3,592 shares in the company, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.52% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on GD. Royal Bank of Canada reissued an “outperform” rating and issued a $320.00 price objective on shares of General Dynamics in a research note on Thursday, July 25th. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research note on Tuesday, October 8th. Susquehanna increased their target price on shares of General Dynamics from $333.00 to $352.00 and gave the stock a “positive” rating in a report on Thursday, October 17th. Wells Fargo & Company lowered shares of General Dynamics from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $334.00 to $317.00 in a report on Tuesday, October 1st. 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 analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $320.18.

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.