General Dynamics (NYSE:GD) Releases FY24 Earnings Guidance

23 Oct 2024, 18:08 by Danessa Lincoln · The Markets Daily

General Dynamics (NYSE:GD – Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $14.00 for the period, compared to the consensus EPS estimate of $14.15.

General Dynamics Stock Performance

NYSE:GD traded down $3.09 during trading hours on Wednesday, reaching $302.90. The company had a trading volume of 724,529 shares, compared to its average volume of 1,089,059. The firm has a market cap of $83.10 billion, a price-to-earnings ratio of 24.95, a PEG ratio of 1.67 and a beta of 0.61. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. The firm’s 50 day moving average price is $299.96 and its 200-day moving average price is $294.48. General Dynamics has a 52 week low of $232.29 and a 52 week high of $313.11.

General Dynamics (NYSE:GD – Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The aerospace company reported $3.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.30 by ($0.04). General Dynamics had a return on equity of 16.74% and a net margin of 7.89%. The business had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.46 billion. During the same period in the previous year, the business posted $2.70 EPS. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. On average, analysts forecast that General Dynamics will post 14.38 EPS for the current year.

General Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 11th will be issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a yield of 1.88%. The ex-dividend date is Friday, October 11th. General Dynamics’s dividend payout ratio is currently 46.33%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Barclays boosted their price target on General Dynamics from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of General Dynamics from $320.00 to $314.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Morgan Stanley upgraded General Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $293.00 to $345.00 in a research report on Friday, August 9th. TD Cowen upgraded General Dynamics to a “strong-buy” rating in a research report on Tuesday, October 8th. Finally, BTIG Research started coverage on shares of General Dynamics in a research note on Wednesday, June 26th. They set a “buy” rating and a $345.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $320.18.

Get Our Latest Analysis on GD

Insider Buying and Selling

In other 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 sale, the director now owns 3,592 shares of the company’s stock, valued at $1,106,515.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.52% of the stock is currently owned by company insiders.

General Dynamics Company Profile

(Get Free Report)