General Dynamics (GD) Stock Falls Amid Market Uptick: What Investors Need to Know

In the latest market close, General Dynamics (GD) reached $260.01, with a -1.56% movement compared to the previous day. The stock fell short of the S&P 500, which registered a gain of 0.49% for the day. Meanwhile, the Dow lost 0.2%, and the Nasdaq, a tech-heavy index, added 1.22%.Shares of the defense contractor have appreciated by 2.77% over the course of the past month, outperforming the Aerospace sector's loss of 3.5% and the S&P 500's loss of 8.15%.Market participants will be closely following the financial results of General Dynamics in its upcoming release. The company is predicted to post an EPS of $3.43, indicating a 19.1% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.75 billion, up 9.54% from the year-ago period.Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $14.94 per share and revenue of $50.36 billion, indicating changes of +9.61% and +5.54%, respectively, compared to the previous year.Investors might also notice recent changes to analyst estimates for General Dynamics. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.09% fall in the Zacks Consensus EPS estimate. Currently, General Dynamics is carrying a Zacks Rank of #4 (Sell).In the context of valuation, General Dynamics is at present trading with a Forward P/E ratio of 17.68. Its industry sports an average Forward P/E of 19.34, so one might conclude that General Dynamics is trading at a discount comparatively.It is also worth noting that GD currently has a PEG ratio of 1.8. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Aerospace - Defense was holding an average PEG ratio of 1.8 at yesterday's closing price.The Aerospace - Defense industry is part of the Aerospace sector. Currently, this industry holds a Zacks Industry Rank of 136, positioning it in the bottom 46% 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.Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report General Dynamics Corporation (GD): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks