Zacks: Brokerages Anticipate General Mills, Inc. (GIS) Will Announce Quarterly Sales of $4.08 Billion
Equities research analysts predict that General Mills, Inc. (NYSE:GIS) will post $4.08 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for General Mills’ earnings, with estimates ranging from $4.06 billion to $4.10 billion. General Mills reported sales of $4.11 billion during the same quarter last year, which indicates a negative year over year growth rate of 0.7%. The company is expected to announce its next earnings report on Tuesday, December 19th.
According to Zacks, analysts expect that General Mills will report full year sales of $4.08 billion for the current year, with estimates ranging from $15.39 billion to $15.59 billion. For the next fiscal year, analysts forecast that the firm will report sales of $15.67 billion per share, with estimates ranging from $15.38 billion to $16.05 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for General Mills.
General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, September 20th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.05). The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.79 billion. General Mills had a net margin of 10.68% and a return on equity of 39.82%. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.78 earnings per share.
Several analysts recently commented on the company. BidaskClub raised General Mills from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. BMO Capital Markets reaffirmed a “hold” rating and set a $67.00 target price on shares of General Mills in a report on Thursday, June 15th. Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Piper Jaffray Companies reaffirmed an “underweight” rating and set a $56.00 target price (down from $57.00) on shares of General Mills in a report on Monday, June 19th. Finally, UBS AG reaffirmed a “neutral” rating and set a $61.00 target price (down from $63.00) on shares of General Mills in a report on Wednesday, June 21st. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company. General Mills has an average rating of “Hold” and a consensus price target of $56.75.
General Mills (NYSE:GIS) traded up 0.0273% during midday trading on Friday, hitting $51.6141. The company’s stock had a trading volume of 650,444 shares. The company has a market cap of $29.33 billion, a price-to-earnings ratio of 18.4930 and a beta of 0.61. The company’s 50-day moving average is $54.22 and its 200 day moving average is $56.06. General Mills has a one year low of $50.40 and a one year high of $64.06.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.76%. The ex-dividend date is Friday, October 6th. General Mills’s payout ratio is currently 70.25%.
Institutional investors and hedge funds have recently modified their holdings of the business. Lenox Wealth Advisors Inc. lifted its position 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 valued at $102,000 after acquiring an additional 15 shares in the last quarter. Hanson McClain Inc. lifted its position 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 acquiring an additional 35 shares in the last quarter. Winslow Evans & Crocker Inc. lifted its position 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 valued at $136,000 after acquiring an additional 69 shares in the last quarter. Assetmark Inc. lifted its position in shares of General Mills by 11.2% in the first quarter. Assetmark Inc. now owns 2,506 shares of the company’s stock valued at $148,000 after acquiring an additional 253 shares in the last quarter. Finally, IHT Wealth Management LLC lifted its position 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 valued at $146,000 after acquiring an additional 627 shares in the last quarter. 70.45% of the stock is currently owned by institutional investors.
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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