General Mills, Inc. (GIS) Updates FY17 Earnings Guidance
General Mills, Inc. (NYSE:GIS) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $3.07-3.12 for the period, compared to the Thomson Reuters consensus estimate of $3.06.
General Mills, Inc. (NYSE:GIS) opened at 60.26 on Tuesday. General Mills, Inc. has a 52 week low of $58.70 and a 52 week high of $72.95. The company has a market capitalization of $34.95 billion, a PE ratio of 22.50 and a beta of 0.56. The stock’s 50 day moving average is $61.33 and its 200 day moving average is $62.51.
General Mills (NYSE:GIS) last announced its earnings results on Tuesday, March 21st. The company reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.01. General Mills had a return on equity of 35.10% and a net margin of 10.23%. The business had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.82 billion. During the same period in the prior year, the business posted $0.65 earnings per share. The firm’s revenue was down 5.2% on a year-over-year basis. Analysts predict that General Mills, Inc. will post $3.06 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Monday, April 10th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Thursday, April 6th. General Mills’s payout ratio is presently 71.64%.
Several brokerages recently commented on GIS. Sanford C. Bernstein cut General Mills from a market perform rating to an underperform rating in a report on Tuesday. Zacks Investment Research upgraded General Mills from a sell rating to a hold rating in a report on Monday. Wells Fargo & Co reiterated a hold rating on shares of General Mills in a report on Tuesday, December 20th. Barclays PLC reduced their target price on General Mills from $66.00 to $64.00 and set an equal weight rating on the stock in a report on Wednesday, December 21st. Finally, Credit Suisse Group AG reiterated a neutral rating and issued a $65.00 target price on shares of General Mills in a report on Thursday, February 2nd. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. General Mills has a consensus rating of Hold and an average target price of $66.35.
In other news, Director Robert L. Ryan sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $60.83, for a total transaction of $1,216,600.00. Following the transaction, the director now directly owns 54,676 shares of the company’s stock, valued at $3,325,941.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by corporate insiders.
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General Mills Company Profile
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.
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