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General Dynamics (GD) Gains But Lags Market: What You Should Know September 19, 2024
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The latest trading session saw General Dynamics (GD - Free Report) ending at $304.73, denoting a +0.78% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 1.7%. Elsewhere, the Dow saw an upswing of 1.26%, while the tech-heavy Nasdaq appreciated by 2.51%.
The the stock of defense contractor has risen by 2.83% in the past month, leading the Aerospace sector's gain of 0.38% and the S&P 500's gain of 1.27%.
Market participants will be closely following the financial results of General Dynamics in its upcoming release. On that day, General Dynamics is projected to report earnings of $3.76 per share, which would represent year-over-year growth of 23.68%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $12.2 billion, up 15.45% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $14.52 per share and a revenue of $47.96 billion, signifying shifts of +20.8% and +13.47%, respectively, from the last year.
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. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. General Dynamics presently features a Zacks Rank of #3 (Hold).
With respect to valuation, General Dynamics is currently being traded at a Forward P/E ratio of 20.83. This signifies no noticeable deviation in comparison to the average Forward P/E of 20.83 for its industry.
It is also worth noting that GD currently has a PEG ratio of 1.65. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. GD's industry had an average PEG ratio of 2.03 as of yesterday's close.
The Aerospace - Defense industry is part of the Aerospace sector. Currently, this industry holds a Zacks Industry Rank of 36, positioning it in the top 15% 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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The latest trading session saw General Dynamics (GD - Free Report) ending at $304.73, denoting a +0.78% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 1.7%. Elsewhere, the Dow saw an upswing of 1.26%, while the tech-heavy Nasdaq appreciated by 2.51%.
The the stock of defense contractor has risen by 2.83% in the past month, leading the Aerospace sector's gain of 0.38% and the S&P 500's gain of 1.27%.
Market participants will be closely following the financial results of General Dynamics in its upcoming release. On that day, General Dynamics is projected to report earnings of $3.76 per share, which would represent year-over-year growth of 23.68%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $12.2 billion, up 15.45% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $14.52 per share and a revenue of $47.96 billion, signifying shifts of +20.8% and +13.47%, respectively, from the last year.
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. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. General Dynamics presently features a Zacks Rank of #3 (Hold).
With respect to valuation, General Dynamics is currently being traded at a Forward P/E ratio of 20.83. This signifies no noticeable deviation in comparison to the average Forward P/E of 20.83 for its industry.
It is also worth noting that GD currently has a PEG ratio of 1.65. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. GD's industry had an average PEG ratio of 2.03 as of yesterday's close.
The Aerospace - Defense industry is part of the Aerospace sector. Currently, this industry holds a Zacks Industry Rank of 36, positioning it in the top 15% 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.