$0.77 EPS Expected for General Mills, Inc. (GIS) This Quarter
Analysts expect that General Mills, Inc. (NYSE:GIS) will post earnings per share of $0.77 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for General Mills’ earnings, with estimates ranging from $0.75 to $0.80. General Mills posted earnings of $0.78 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 1.3%. The company is expected to announce its next earnings report before the market opens 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 fiscal year, analysts anticipate that the company will post earnings of $3.26 per share, with EPS estimates ranging from $3.15 to $3.36. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover General Mills.
General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, June 28th. The company reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. The company had revenue of $3.81 billion during the quarter, compared to analyst estimates of $3.75 billion. General Mills had a return on equity of 38.97% and a net margin of 10.61%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter last year, the company earned $0.66 EPS.
Several equities research analysts have recently issued reports on GIS shares. Royal Bank Of Canada set a $62.00 price objective on shares of General Mills and gave the stock a “hold” rating in a research report on Wednesday, August 2nd. Zacks Investment Research lowered shares of General Mills from a “hold” rating to a “sell” rating in a research report on Wednesday, May 24th. Credit Suisse Group reissued a “neutral” rating and issued a $56.00 price objective (down previously from $65.00) on shares of General Mills in a research report on Friday, May 19th. Morgan Stanley reissued an “equal weight” rating and issued a $55.00 price objective (down previously from $58.00) on shares of General Mills in a research report on Sunday, June 25th. Finally, Goldman Sachs Group, Inc. (The) reissued a “sell” rating and issued a $52.00 price objective (down previously from $59.00) on shares of General Mills in a research report on Friday, June 30th. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $59.11.
General Mills (NYSE:GIS) traded up 1.026% during mid-day trading on Friday, hitting $55.615. The company’s stock had a trading volume of 1,408,801 shares. The company has a market cap of $32.10 billion, a P/E ratio of 20.078 and a beta of 0.62. General Mills has a 12-month low of $52.76 and a 12-month high of $65.57. The firm’s 50-day moving average is $55.72 and its 200-day moving average is $56.90.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Intl Fcstone Inc. boosted its stake in General Mills by 158.7% during the 2nd quarter. Intl Fcstone Inc. now owns 32,228 shares of the company’s stock valued at $1,785,000 after acquiring an additional 19,769 shares during the last quarter. M Holdings Securities Inc. bought a new position in General Mills during the 2nd quarter valued at $229,000. Gs Investments Inc. bought a new position in General Mills during the 2nd quarter valued at $1,783,000. Navellier & Associates Inc boosted its stake in General Mills by 3.6% during the 2nd quarter. Navellier & Associates Inc now owns 24,404 shares of the company’s stock valued at $1,352,000 after acquiring an additional 839 shares during the last quarter. Finally, RNC Capital Management LLC boosted its stake in General Mills by 13,385.6% during the 2nd quarter. RNC Capital Management LLC now owns 558,709 shares of the company’s stock valued at $30,952,000 after acquiring an additional 554,566 shares during the last quarter. Hedge funds and other institutional investors own 69.49% of the company’s stock.
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About General Mills
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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