Analysts Anticipate General Mills, Inc. (GIS) Will Announce Quarterly Sales of $3.79 Billion
Analysts predict that General Mills, Inc. (NYSE:GIS) will post $3.79 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for General Mills’ earnings, with estimates ranging from $3.72 billion to $3.84 billion. General Mills posted sales of $3.91 billion in the same quarter last year, which suggests a negative year over year growth rate of 3.1%. The firm is expected to report its next quarterly earnings report before the market opens on Wednesday, September 20th.
On average, analysts expect that General Mills will report full year sales of $3.79 billion for the current financial year, with estimates ranging from $15.24 billion to $15.54 billion. For the next financial year, analysts anticipate that the business will report sales of $15.61 billion per share, with estimates ranging from $15.29 billion to $15.88 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover General Mills.
General Mills (NYSE:GIS) last posted its earnings results on Wednesday, June 28th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.02. General Mills had a return on equity of 38.97% and a net margin of 10.61%. The firm had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.75 billion. During the same quarter in the prior year, the company earned $0.66 EPS. General Mills’s revenue was down 3.1% on a year-over-year basis.
A number of brokerages recently weighed in on GIS. BidaskClub upgraded General Mills from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. BMO Capital Markets reiterated a “hold” rating and issued a $67.00 target price on shares of General Mills in a report on Thursday, June 15th. Zacks Investment Research upgraded General Mills from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Susquehanna Bancshares Inc reiterated a “neutral” rating and issued a $59.00 target price (down previously from $62.00) on shares of General Mills in a report on Tuesday, May 30th. Finally, Piper Jaffray Companies restated an “underweight” rating and set a $56.00 price objective (down previously from $57.00) on shares of General Mills in a research note on Monday, June 19th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the stock. General Mills presently has an average rating of “Hold” and an average price target of $59.11.
Large investors have recently added to or reduced their stakes in the stock. Lenox Wealth Advisors Inc. lifted its stake in shares of General Mills by 0.8% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock worth $102,000 after acquiring an additional 15 shares in the last quarter. Winslow Evans & Crocker Inc. lifted its stake in shares of General Mills by 2.9% in the second quarter. Winslow Evans & Crocker Inc. now owns 2,461 shares of the company’s stock worth $136,000 after acquiring an additional 69 shares in the last quarter. Hanson McClain Inc. lifted 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 worth $138,000 after acquiring an additional 35 shares in the last quarter. IHT Wealth Management LLC lifted its stake in shares of General Mills by 33.4% in the first quarter. IHT Wealth Management LLC now owns 2,506 shares of the company’s stock worth $146,000 after acquiring an additional 627 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in shares of General Mills by 11.2% in the first quarter. Assetmark Inc. now owns 2,506 shares of the company’s stock worth $148,000 after acquiring an additional 253 shares in the last quarter. Institutional investors and hedge funds own 69.49% of the company’s stock.
General Mills (NYSE:GIS) traded up 1.36% during trading on Friday, reaching $55.80. The company had a trading volume of 4,350,245 shares. The firm’s 50 day moving average is $55.73 and its 200-day moving average is $56.87. The company has a market capitalization of $32.20 billion, a P/E ratio of 20.14 and a beta of 0.62. General Mills has a 12 month low of $52.76 and a 12 month high of $65.57.
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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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