Yahoo Finance General Dynamics (GD) Gains As Market Dips: What You Should Know
General Dynamics (GD) closed at $285.27 in the latest trading session, marking a +0.28% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 0.22% for the day. On the other hand, the Dow registered a gain of 0.06%, and the technology-centric Nasdaq decreased by 0.52%.
Coming into today, shares of the defense contractor had gained 0.68% in the past month. In that same time, the Aerospace sector lost 4.97%, while the S&P 500 lost 1.66%.
Analysts and investors alike will be keeping a close eye on the performance of General Dynamics in its upcoming earnings disclosure. The company's earnings report is set to go public on April 24, 2024. The company is predicted to post an EPS of $2.95, indicating a 11.74% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $10.36 billion, indicating a 4.83% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $14.57 per share and a revenue of $46.51 billion, signifying shifts of +21.21% and +10.02%, respectively, from the last year.
Any recent changes to analyst estimates for General Dynamics should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.16% decrease. At present, General Dynamics boasts a Zacks Rank of #3 (Hold).
In terms of valuation, General Dynamics is presently being traded at a Forward P/E ratio of 19.52. This expresses a premium compared to the average Forward P/E of 17.91 of its industry.
It is also worth noting that GD currently has a PEG ratio of 1.81. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Aerospace - Defense industry was having an average PEG ratio of 1.83.
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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General Dynamics Corporation (GD) : Free Stock Analysis Report
