$0.82 EPS Expected for General Mills, Inc. (GIS) This Quarter
Analysts expect General Mills, Inc. (NYSE:GIS) to report $0.82 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for General Mills’ earnings, with estimates ranging from $0.75 to $0.85. General Mills posted earnings per share of $0.85 in the same quarter last year, which indicates a negative year-over-year growth rate of 3.5%. The company is scheduled to report its next quarterly earnings report on Tuesday, December 19th.
According to Zacks, analysts expect that General Mills will report full year earnings of $3.11 per share for the current financial year, with EPS estimates ranging from $3.08 to $3.14. For the next fiscal year, analysts forecast that the business will post earnings of $3.25 per share, with EPS estimates ranging from $3.12 to $3.36. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for General Mills.
General Mills (NYSE:GIS) last released its earnings results on Wednesday, September 20th. The company reported $0.71 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.05). General Mills had a net margin of 10.68% and a return on equity of 39.82%. The company had revenue of $3.77 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the previous year, the business posted $0.78 EPS. The firm’s quarterly revenue was down 3.6% on a year-over-year basis.
Several analysts recently weighed in on GIS shares. Credit Suisse Group reissued a “neutral” rating and set a $53.00 price target on shares of General Mills in a report on Monday, September 25th. Wells Fargo & Company decreased their price objective on General Mills from $56.00 to $53.00 and set a “market perform” rating on the stock in a report on Friday, September 22nd. Piper Jaffray Companies reiterated a “sell” rating and set a $53.00 price objective on shares of General Mills in a research report on Thursday, September 21st. BMO Capital Markets reiterated a “market perform” rating and set a $57.00 price objective (down previously from $60.00) on shares of General Mills in a research report on Thursday, September 21st. Finally, UBS AG reissued a “neutral” rating and set a $55.00 target price (down previously from $58.00) on shares of General Mills in a report on Thursday, September 21st. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $56.75.
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Shares of General Mills (GIS) opened at 51.32 on Wednesday. The company has a market capitalization of $29.17 billion, a PE ratio of 18.39 and a beta of 0.61. General Mills has a 52-week low of $50.40 and a 52-week high of $64.06. The stock’s 50 day moving average price is $54.52 and its 200-day moving average price is $56.12.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be given a dividend of $0.49 per share. The ex-dividend date is Friday, October 6th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.82%. General Mills’s dividend payout ratio (DPR) is 70.25%.
A number of institutional investors have recently added to or reduced their stakes in GIS. Lenox Wealth Management Inc. lifted its stake in shares of General Mills by 0.3% in the 2nd quarter. Lenox Wealth Management Inc. now owns 3,242 shares of the company’s stock valued at $180,000 after purchasing an additional 11 shares during the period. Lenox Wealth Advisors Inc. boosted its holdings in shares of General Mills by 0.8% during the 2nd quarter. Lenox Wealth Advisors Inc. now owns 1,833 shares of the company’s stock worth $102,000 after buying an additional 15 shares in the last quarter. LLBH Private Wealth Management LLC boosted its holdings in shares of General Mills by 0.6% during the 2nd quarter. LLBH Private Wealth Management LLC now owns 4,343 shares of the company’s stock worth $241,000 after buying an additional 25 shares in the last quarter. Davis R M Inc. boosted its holdings in shares of General Mills by 0.8% during the 2nd quarter. Davis R M Inc. now owns 4,197 shares of the company’s stock worth $233,000 after buying an additional 34 shares in the last quarter. Finally, Hanson McClain Inc. boosted its holdings in shares of General Mills by 1.5% during the 1st quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock worth $138,000 after buying an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 70.45% of the company’s stock.
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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