General Dynamics (NYSE:GD – Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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 0.5 %
Shares of NYSE:GD traded down $1.59 during midday trading on Wednesday, reaching $304.40. The company had a trading volume of 1,504,890 shares, compared to its average volume of 1,093,057. The business’s 50 day moving average price is $300.17 and its 200 day moving average price is $294.55. General Dynamics has a 1-year low of $232.29 and a 1-year high of $313.11. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 0.33. The stock has a market cap of $83.52 billion, a PE ratio of 24.83, a P/E/G ratio of 1.67 and a beta of 0.61.
General Dynamics (NYSE:GD – Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 EPS 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 during the quarter, compared to the consensus estimate of $11.46 billion. During the same period last year, the business earned $2.70 EPS. The business’s revenue was up 18.0% on a year-over-year basis. Research analysts forecast that General Dynamics will post 14.38 EPS for the current fiscal year.
General Dynamics Dividend Announcement
Analysts Set New Price Targets
Several equities research analysts have issued reports on the company. Barclays raised their price target on General Dynamics from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. TD Cowen raised shares of General Dynamics to a “strong-buy” rating in a report on Tuesday, October 8th. Morgan Stanley raised shares of General Dynamics from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $293.00 to $345.00 in a report on Friday, August 9th. Wells Fargo & Company cut General Dynamics from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $334.00 to $317.00 in a report on Tuesday, October 1st. Finally, Seaport Res Ptn lowered General Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 11th. Seven research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $320.18.
Insider Transactions at General Dynamics
In related news, Director Peter A. Wall sold 1,320 shares of General Dynamics stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $308.05, for a total value of $406,626.00. Following the transaction, the director now directly owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.52% of the stock is currently owned by insiders.
General Dynamics Company Profile
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.
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