General Dynamics Corp. (NYSE:GD)‘s stock had its “neutral” rating restated by Zacks in a report issued on Thursday, AnalystRatingsNetwork reports. They currently have a $90.00 price target on the stock. Zacks‘ target price points to a potential upside of 4.90% from the stock’s previous close.
Zacks‘ analyst wrote, “General Dynamics Corp. posted strong second quarter results with top and bottom line easily surpassing the Zacks Consensus Estimate. Earnings were up year over year, while revenue showed a marginal decline of 0.1%. The results reflect steady flow of orders and company’s cash deployment strategy. The company received orders for every Gulfstream aircraft model which reflects continued demand across its portfolio of business-jet products. The company repurchased 6.6 million shares during the quarter. Given the positive fundamentals, GD will be able to drive significant growth going forward. However, we remain on the sidelines based on the belief that U.S. defense budget cuts due to the ongoing sequester could impact the performance of the company like all other defense majors. We main our Neutral recommendation on the stock.”
Shares of General Dynamics Corp. (NYSE: GD) traded down 0.14% during mid-day trading on Thursday, hitting $85.68. General Dynamics Corp. has a 52 week low of $61.09 and a 52 week high of $86.60. The stock’s 50-day moving average is currently $80.00. The company’s market cap is $30.148 billion.
General Dynamics Corp. (NYSE:GD) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $1.81 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.62 by $0.19. The company had revenue of $7.92 billion for the quarter, compared to the consensus estimate of $7.73 billion. During the same quarter last year, the company posted $1.77 earnings per share. General Dynamics Corp.’s revenue was down .1% compared to the same quarter last year. Analysts expect that General Dynamics Corp. will post $6.77 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on GD. Analysts at Credit Suisse raised their EPS on shares of General Dynamics Corp. in a research note to investors on Thursday. They now have an “outperform” rating and a $100.00 price target on the stock. Separately, analysts at RBC Capital raised their price target on shares of General Dynamics Corp. from $86.00 to $102.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Finally, analysts at Sterne Agee raised their price target on shares of General Dynamics Corp. from $82.00 to $100.00 in a research note to investors on Thursday, July 18th. They now have a “buy” rating on the stock.
One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. General Dynamics Corp. presently has an average rating of “Buy” and a consensus price target of $86.38.
General Dynamics Corporation is an aerospace and defense company that offers a portfolio of products and services in business aviation; combat vehicles, weapons systems and munitions; military and commercial shipbuilding, and communications and information technology.
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