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General Dynamics (GD) Stock Moves -0.61%: What You Should Know
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General Dynamics (GD - Free Report) closed the most recent trading day at $239.81, moving -0.61% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 1.34%. Meanwhile, the Dow lost 0.98%, and the Nasdaq, a tech-heavy index, lost 1.62%.
Coming into today, shares of the defense contractor had gained 8.27% in the past month. In that same time, the Aerospace sector gained 0.17%, while the S&P 500 lost 1.57%.
The investment community will be closely monitoring the performance of General Dynamics in its forthcoming earnings report. The company is scheduled to release its earnings on October 25, 2023. The company is forecasted to report an EPS of $2.87, showcasing a 11.96% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $9.94 billion, showing a 0.39% drop compared to the year-ago quarter.
GD's full-year Zacks Consensus Estimates are calling for earnings of $12.58 per share and revenue of $42.48 billion. These results would represent year-over-year changes of +3.2% and +7.81%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for General Dynamics. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. The Zacks Consensus EPS estimate has moved 0.44% lower within the past month. General Dynamics is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, General Dynamics is currently exchanging hands at a Forward P/E ratio of 19.18. This signifies a premium in comparison to the average Forward P/E of 15.93 for its industry.
Meanwhile, GD's PEG ratio is currently 2.08. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Aerospace - Defense industry stood at 1.82 at the close of the market yesterday.
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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General Dynamics (GD) Stock Moves -0.61%: What You Should Know
General Dynamics (GD - Free Report) closed the most recent trading day at $239.81, moving -0.61% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 1.34%. Meanwhile, the Dow lost 0.98%, and the Nasdaq, a tech-heavy index, lost 1.62%.
Coming into today, shares of the defense contractor had gained 8.27% in the past month. In that same time, the Aerospace sector gained 0.17%, while the S&P 500 lost 1.57%.
The investment community will be closely monitoring the performance of General Dynamics in its forthcoming earnings report. The company is scheduled to release its earnings on October 25, 2023. The company is forecasted to report an EPS of $2.87, showcasing a 11.96% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $9.94 billion, showing a 0.39% drop compared to the year-ago quarter.
GD's full-year Zacks Consensus Estimates are calling for earnings of $12.58 per share and revenue of $42.48 billion. These results would represent year-over-year changes of +3.2% and +7.81%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for General Dynamics. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. The Zacks Consensus EPS estimate has moved 0.44% lower within the past month. General Dynamics is holding a Zacks Rank of #3 (Hold) right now.
From a valuation perspective, General Dynamics is currently exchanging hands at a Forward P/E ratio of 19.18. This signifies a premium in comparison to the average Forward P/E of 15.93 for its industry.
Meanwhile, GD's PEG ratio is currently 2.08. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Aerospace - Defense industry stood at 1.82 at the close of the market yesterday.
The Aerospace - Defense industry is part of the Aerospace sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.