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Strength Seen in General Dynamics (GD): Can Its 8.4% Jump Turn into More Strength?
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General Dynamics (GD - Free Report) shares soared 8.4% in the last trading session to close at $238.48. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 1% gain over the past four weeks.
The recent attack made by Palestine’s Hamas group on Israel and the following retaliatory strike from the Israeli military in Gaza has once again created a war zone the Middle East. Such conflicts tend to boost investors’ confidence in weapons manufacturers, which in turn must have resulted in the latest uptick in GD’s share price.
This defense contractor is expected to post quarterly earnings of $2.87 per share in its upcoming report, which represents a year-over-year change of -12%. Revenues are expected to be $9.91 billion, down 0.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For General Dynamics, the consensus EPS estimate for the quarter has been revised 1.2% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on GD going forward to see if this recent jump can turn into more strength down the road.
General Dynamics belongs to the Zacks Aerospace - Defense industry. Another stock from the same industry, Redwire Corporation (RDW - Free Report) , closed the last trading session 3.1% lower at $2.78. Over the past month, RDW has returned -7.4%.
Redwire Corporation's consensus EPS estimate for the upcoming report has changed +12.5% over the past month to -$0.14. Compared to the company's year-ago EPS, this represents a change of +12.5%. Redwire Corporation currently boasts a Zacks Rank of #3 (Hold).
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Strength Seen in General Dynamics (GD): Can Its 8.4% Jump Turn into More Strength?
General Dynamics (GD - Free Report) shares soared 8.4% in the last trading session to close at $238.48. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 1% gain over the past four weeks.
The recent attack made by Palestine’s Hamas group on Israel and the following retaliatory strike from the Israeli military in Gaza has once again created a war zone the Middle East. Such conflicts tend to boost investors’ confidence in weapons manufacturers, which in turn must have resulted in the latest uptick in GD’s share price.
This defense contractor is expected to post quarterly earnings of $2.87 per share in its upcoming report, which represents a year-over-year change of -12%. Revenues are expected to be $9.91 billion, down 0.7% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For General Dynamics, the consensus EPS estimate for the quarter has been revised 1.2% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on GD going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
General Dynamics belongs to the Zacks Aerospace - Defense industry. Another stock from the same industry, Redwire Corporation (RDW - Free Report) , closed the last trading session 3.1% lower at $2.78. Over the past month, RDW has returned -7.4%.
Redwire Corporation's consensus EPS estimate for the upcoming report has changed +12.5% over the past month to -$0.14. Compared to the company's year-ago EPS, this represents a change of +12.5%. Redwire Corporation currently boasts a Zacks Rank of #3 (Hold).