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Market Update: General Dynamics Corp (NYSE:GD) – General Dynamics UK Awarded £135 Million Contract to Provide Enhanced Communications to British Armed Forces

[PR Newswire] – OAKDALE, South Wales, March 10, 2016 /PRNewswire/ — General Dynamics United Kingdom Limited has been awarded £135 million contract from the UK Ministry of Defence to provide enhanced Bowman tactical communications systems to the British Armed Forces. The contract creates 50 new jobs as well as sustaining the jobs of 20 highly-skilled engineers at the General Dynamics UK’s headquarters in Oakdale, South Wales, with further roles being secured in the company’s wider supply chain. Defence Secretary Michael Fallon said: “This is more evidence of what this Government’s decision to grow our Defence budget can do for the UK. Read more on this. General Dynamics Corporation (GD) , with a current value of $41.21B, started the session at $132.80. Looking at the equity, the company’s one day range is $131.94 to $134.26 with a one year range of $121.61 to $153.76. GD shares are currently priced at 14.09x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 30.25x earnings multiple for the same period. The company pays shareholders $3.04 per share annually in dividends, yielding 2.25%. According to a consensus of 18 analysts, the earnings estimate of $2.17 per share would be $0.03 better than the year-ago quarter and a $0.08 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $9.39 would be a $0.31 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $7.71 Billion. If realized, that would be a 0.90% decrease over the year-ago quarter. In terms of ratings, Drexel Hamilton upgraded GD from Hold to Buy (Dec 21, 2015). Previously, Argus upgraded GD from Hold to Buy. When considering if the stock is under or overvalued, the average price target is $160.31, which is 20.72% above where the stock opened this morning. See more in (NYSE:GD) Similar Articles: Market Update: General Dynamics Corp (NYSE:GD) – General Dynamics Awarded $75 Million by Centers for Medicare & Medicaid Services Market Update: General Dynamics Corp (NYSE:GD) – General Dynamics, Rockwell Collins, Harris Corp awarded $12 bln Pentagon contract Company Update: General Dynamics Corp (NYSE:GD) – General Dynamics Wins Contract to Provide Communications Services to USAFCENT in Southwest and Central Asia
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