$0.77 EPS Expected for General Mills, Inc. (NYSE:GIS) This Quarter
Equities research analysts predict that General Mills, Inc. (NYSE:GIS) will announce earnings per share (EPS) of $0.77 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for General Mills’ earnings, with the highest EPS estimate coming in at $0.80 and the lowest estimate coming in at $0.75. General Mills reported earnings per share of $0.78 during the same quarter last year, which would suggest a negative year-over-year growth rate of 1.3%. The company is scheduled to report its next earnings results on Wednesday, September 20th.
According to Zacks, analysts expect that General Mills will report full-year earnings of $3.13 per share for the current fiscal year, with EPS estimates ranging from $3.10 to $3.18. For the next year, analysts expect that the business will report earnings of $3.26 per share, with EPS estimates ranging from $3.15 to $3.36. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for General Mills.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, June 28th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. The firm had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.75 billion. General Mills had a net margin of 10.61% and a return on equity of 38.97%. General Mills’s revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.66 earnings per share.
Several brokerages recently commented on GIS. Royal Bank Of Canada cut their target price on General Mills from $65.00 to $62.00 and set a “sector perform” rating on the stock in a research report on Thursday, June 29th. UBS AG restated a “neutral” rating and set a $58.00 target price (down previously from $61.00) on shares of General Mills in a research report on Friday, June 30th. Zacks Investment Research lowered General Mills from a “hold” rating to a “sell” rating in a research report on Wednesday, May 24th. Piper Jaffray Companies restated an “underweight” rating and set a $56.00 target price (down previously from $57.00) on shares of General Mills in a research report on Monday, June 19th. Finally, Vetr upgraded General Mills from a “hold” rating to a “buy” rating and set a $57.82 target price on the stock in a research report on Tuesday, June 27th. Seven analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company’s stock. General Mills presently has a consensus rating of “Hold” and a consensus price target of $59.93.
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General Mills (NYSE GIS) opened at 53.85 on Thursday. The firm’s 50-day moving average is $55.88 and its 200-day moving average is $58.63. The firm has a market capitalization of $31.08 billion, a PE ratio of 19.44 and a beta of 0.61. General Mills has a 12 month low of $53.24 and a 12 month high of $72.51.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Thursday, July 6th. This is an increase from General Mills’s previous quarterly dividend of $0.48. This represents a $1.96 annualized dividend and a dividend yield of 3.64%. General Mills’s dividend payout ratio is 70.76%.
Several hedge funds have recently modified their holdings of the company. Baltimore Washington Financial Advisors Inc. bought a new stake in shares of General Mills during the fourth quarter valued at approximately $15,491,000. Lenox Wealth Advisors Inc. increased its stake in shares of General Mills by 0.8% in the first quarter. Lenox Wealth Advisors Inc. now owns 1,818 shares of the company’s stock valued at $107,000 after buying an additional 14 shares during the period. Cribstone Capital Management LLC increased its stake in shares of General Mills by 275.6% in the first quarter. Cribstone Capital Management LLC now owns 2,017 shares of the company’s stock valued at $116,000 after buying an additional 1,480 shares during the period. Commonwealth Financial Services LLC increased its stake in shares of General Mills by 1,239.8% in the first quarter. Commonwealth Financial Services LLC now owns 2,224 shares of the company’s stock valued at $130,000 after buying an additional 2,058 shares during the period. Finally, Hanson McClain Inc. increased its stake in shares of General Mills by 1.5% in the first quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock valued at $138,000 after buying an additional 35 shares during the period. 70.40% of the stock is owned by hedge funds and other institutional investors.
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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