Zacks: Analysts Anticipate General Mills, Inc. (GIS) to Announce $0.82 EPS
Analysts expect General Mills, Inc. (NYSE:GIS) to report earnings of $0.82 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for General Mills’ earnings. The highest EPS estimate is $0.86 and the lowest is $0.75. 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 firm is scheduled to report its next earnings results on Tuesday, December 19th.
According to Zacks, analysts expect that General Mills will report full-year earnings of $3.10 per share for the current fiscal year, with EPS estimates ranging from $3.08 to $3.14. For the next fiscal year, analysts anticipate that the firm will post earnings of $3.24 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 research firms that cover General Mills.
General Mills (NYSE:GIS) last posted its quarterly earnings data 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 return on equity of 39.82% and a net margin of 10.68%. The business had revenue of $3.77 billion during the quarter, compared to analysts’ expectations of $3.79 billion. During the same period in the prior year, the firm posted $0.78 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis.
GIS has been the topic of several research analyst reports. Jefferies Group LLC initiated coverage on General Mills in a research note on Friday. They issued a “hold” rating and a $56.00 price objective on the stock. Zacks Investment Research lowered General Mills from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Royal Bank Of Canada set a $62.00 price objective on General Mills and gave the company a “hold” rating in a research note on Wednesday, August 2nd. BidaskClub raised General Mills from a “hold” rating to a “buy” rating in a research note on Tuesday, August 22nd. Finally, Wells Fargo & Company reduced their price objective on General Mills from $56.00 to $53.00 and set a “market perform” rating on the stock in a research note on Friday, September 22nd. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $56.60.
Institutional investors have recently bought and sold shares of the stock. Boston Advisors LLC lifted its stake in shares of General Mills by 1.8% in the second quarter. Boston Advisors LLC now owns 20,859 shares of the company’s stock worth $1,156,000 after acquiring an additional 375 shares during the period. Bfsg LLC acquired a new position in shares of General Mills in the first quarter worth approximately $2,843,000. PVG Asset Management Corp acquired a new position in shares of General Mills in the first quarter worth approximately $6,352,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of General Mills by 18.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 65,472 shares of the company’s stock worth $3,627,000 after acquiring an additional 10,250 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of General Mills by 146.2% in the first quarter. Renaissance Technologies LLC now owns 2,004,300 shares of the company’s stock worth $118,274,000 after acquiring an additional 1,190,200 shares during the period. 70.45% of the stock is currently owned by institutional investors.
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General Mills (NYSE:GIS) traded down 0.04% on Friday, reaching $52.01. The company’s stock had a trading volume of 3,372,367 shares. The company’s 50 day moving average price is $52.87 and its 200-day moving average price is $55.45. General Mills has a 12-month low of $50.12 and a 12-month high of $64.06. The stock has a market cap of $29.56 billion, a PE ratio of 18.63 and a beta of 0.61.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Friday, October 6th. General Mills’s dividend payout ratio is currently 70.25%.
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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