General Mills Receives “Neutral” Rating from Credit Suisse (GIS)
General Mills (NYSE:GIS)‘s stock had its “neutral” rating restated by research analysts at Credit Suisse in a report released on Thursday. They currently have a $53.00 price objective on the stock, up from their previous price objective of $51.00. Credit Suisse’s price target would indicate a potential upside of 2.40% from the stock’s previous close.
Shares of General Mills (NYSE:GIS) traded up 0.68% on Thursday, hitting $52.11. The stock had a trading volume of 2,056,646 shares. General Mills has a 52 week low of $46.70 and a 52 week high of $55.64. The stock has a 50-day moving average of $54. and a 200-day moving average of $51.24. The company has a market cap of $32.021 billion and a price-to-earnings ratio of 18.98.
General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, June 25th. The company reported $0.67 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.72 by $0.05. The company had revenue of $4.28 billion for the quarter, compared to the consensus estimate of $4.42 billion. During the same quarter last year, the company posted $0.53 earnings per share. General Mills’s revenue was down 2.9% compared to the same quarter last year. On average, analysts predict that General Mills will post $3.08 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 1st. Shareholders of record on Thursday, July 10th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Tuesday, July 8th.
A number of other analysts have also recently weighed in on GIS. Analysts at Deutsche Bank reiterated a “buy” rating on shares of General Mills in a research note on Thursday. They now have a $57.00 price target on the stock, down previously from $59.00. Separately, analysts at Stifel Nicolaus raised their price target on shares of General Mills to $57.00 in a research note on Thursday. Finally, analysts at Stifel raised their price target on shares of General Mills from $55.00 to $57.00 in a research note on Thursday. They now have a “buy” rating on the stock. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $51.09.
General Mills, Inc (NYSE:GIS) is a manufacturer and marketer of branded consumer foods sold through retail stores.
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