General Dynamics (GD) Announces Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Share on StockTwits

General Dynamics (NYSE:GD) issued its quarterly earnings results on Wednesday, January 30th. The aerospace company reported $3.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.98 by $0.09, MarketWatch Earnings reports. The business had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.34 billion. General Dynamics had a net margin of 9.24% and a return on equity of 28.33%. The business’s quarterly revenue was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.50 earnings per share. General Dynamics updated its FY19 guidance to $11.60-11.70 EPS.

NYSE:GD opened at $173.48 on Thursday. The firm has a market cap of $51.32 billion, a PE ratio of 15.19, a PEG ratio of 1.60 and a beta of 1.16. General Dynamics has a 52-week low of $143.87 and a 52-week high of $230.00. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.23 and a quick ratio of 0.83.

The company also recently declared a quarterly dividend, which was paid on Friday, February 8th. Stockholders of record on Friday, January 18th were paid a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.14%. The ex-dividend date was Thursday, January 17th. General Dynamics’s dividend payout ratio (DPR) is presently 32.57%.

In other news, VP Christopher J. Brady sold 2,327 shares of the business’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $171.23, for a total value of $398,452.21. Following the completion of the sale, the vice president now directly owns 5,134 shares in the company, valued at approximately $879,094.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Catherine B. Reynolds acquired 600 shares of the stock in a transaction that occurred on Friday, December 7th. The shares were bought at an average price of $167.64 per share, with a total value of $100,584.00. Following the completion of the purchase, the director now owns 1,153 shares in the company, valued at $193,288.92. The disclosure for this purchase can be found here. 6.90% of the stock is currently owned by insiders.

Several equities analysts have commented on the stock. Morgan Stanley dropped their price target on shares of General Dynamics from $209.00 to $189.00 and set an “underweight” rating on the stock in a research note on Wednesday, November 14th. Barclays decreased their price target on General Dynamics from $256.00 to $210.00 and set an “overweight” rating for the company in a report on Tuesday, December 4th. Cowen reissued a “buy” rating and issued a $253.00 target price on shares of General Dynamics in a report on Wednesday, October 24th. Wells Fargo & Co reduced their target price on General Dynamics from $250.00 to $210.00 and set an “outperform” rating for the company in a report on Thursday, October 25th. Finally, Zacks Investment Research raised General Dynamics from a “sell” rating to a “hold” rating in a report on Tuesday. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $208.23.

WARNING: This piece was first published by Highlight Press and is the property of of Highlight Press. If you are reading this piece on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark laws. The legal version of this piece can be accessed at https://highlightpress.com/2019/02/14/general-dynamics-gd-issues-quarterly-earnings-results-beats-expectations-by-0-09-eps.html.

General Dynamics Company Profile

General Dynamics Corporation operates as an aerospace and defense company worldwide. It operates through four business groups: Aerospace; Combat Systems; Information Systems and Technology; and Marine Systems. The Aerospace group designs, develops, manufactures, service and supports business-jet aircraft; and provides aircraft services, such as maintenance, aircraft management, charter, fixed-base operational, and staffing services.

See Also: What is the float in trading stocks?

Earnings History for General Dynamics (NYSE:GD)

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.

Leave a Reply