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General Dynamics (GD) Gains As Market Dips: What You Should Know
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In the latest trading session, General Dynamics (GD - Free Report) closed at $216.08, marking a +1.18% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.68%. Elsewhere, the Dow gained 0.47%, while the tech-heavy Nasdaq lost 3.19%.
Heading into today, shares of the defense contractor had lost 1.83% over the past month, lagging the Aerospace sector's loss of 1.24% and the S&P 500's gain of 3.58% in that time.
Wall Street will be looking for positivity from General Dynamics as it approaches its next earnings report date. This is expected to be July 26, 2023. The company is expected to report EPS of $2.59, down 5.82% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.41 billion, up 2.38% from the year-ago period.
GD's full-year Zacks Consensus Estimates are calling for earnings of $12.64 per share and revenue of $41.34 billion. These results would represent year-over-year changes of +3.69% and +4.92%, respectively.
It is also important to note the recent changes to analyst estimates for General Dynamics. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.2% lower within the past month. General Dynamics is currently sporting a Zacks Rank of #4 (Sell).
In terms of valuation, General Dynamics is currently trading at a Forward P/E ratio of 16.9. This represents a premium compared to its industry's average Forward P/E of 16.42.
It is also worth noting that GD currently has a PEG ratio of 1.89. 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. Aerospace - Defense stocks are, on average, holding a PEG ratio of 1.89 based on yesterday's closing prices.
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 127, which puts it in the top 50% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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General Dynamics (GD) Gains As Market Dips: What You Should Know
In the latest trading session, General Dynamics (GD - Free Report) closed at $216.08, marking a +1.18% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.68%. Elsewhere, the Dow gained 0.47%, while the tech-heavy Nasdaq lost 3.19%.
Heading into today, shares of the defense contractor had lost 1.83% over the past month, lagging the Aerospace sector's loss of 1.24% and the S&P 500's gain of 3.58% in that time.
Wall Street will be looking for positivity from General Dynamics as it approaches its next earnings report date. This is expected to be July 26, 2023. The company is expected to report EPS of $2.59, down 5.82% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.41 billion, up 2.38% from the year-ago period.
GD's full-year Zacks Consensus Estimates are calling for earnings of $12.64 per share and revenue of $41.34 billion. These results would represent year-over-year changes of +3.69% and +4.92%, respectively.
It is also important to note the recent changes to analyst estimates for General Dynamics. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.2% lower within the past month. General Dynamics is currently sporting a Zacks Rank of #4 (Sell).
In terms of valuation, General Dynamics is currently trading at a Forward P/E ratio of 16.9. This represents a premium compared to its industry's average Forward P/E of 16.42.
It is also worth noting that GD currently has a PEG ratio of 1.89. 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. Aerospace - Defense stocks are, on average, holding a PEG ratio of 1.89 based on yesterday's closing prices.
The Aerospace - Defense industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 127, which puts it in the top 50% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.