Equities Analysts Issue Forecasts for General Mills, Inc.’s Q2 2018 Earnings (GIS)
General Mills, Inc. (NYSE:GIS) – Analysts at Jefferies Group issued their Q2 2018 earnings per share estimates for General Mills in a research report issued on Friday. Jefferies Group analyst A. Jagdale forecasts that the company will post earnings per share of $0.82 for the quarter. Jefferies Group currently has a “Hold” rating and a $56.00 target price on the stock. Jefferies Group also issued estimates for General Mills’ Q3 2018 earnings at $0.75 EPS, Q4 2018 earnings at $0.80 EPS, FY2018 earnings at $3.08 EPS, Q1 2019 earnings at $0.75 EPS, Q2 2019 earnings at $0.86 EPS, Q3 2019 earnings at $0.78 EPS, Q4 2019 earnings at $0.85 EPS, FY2019 earnings at $3.23 EPS, Q1 2020 earnings at $0.80 EPS, FY2020 earnings at $3.42 EPS, FY2021 earnings at $3.63 EPS and FY2022 earnings at $3.86 EPS.
General Mills (NYSE:GIS) last posted its earnings results on Wednesday, September 20th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.05). The firm had revenue of $3.77 billion during 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%. General Mills’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 business posted $0.78 earnings per share.
Other equities analysts have also recently issued reports about the company. Vetr upgraded General Mills from a “hold” rating to a “buy” rating and set a $57.82 price objective for the company in a report on Tuesday, June 27th. BidaskClub upgraded General Mills from a “hold” rating to a “buy” rating in a report on Tuesday, August 22nd. Zacks Investment Research upgraded General Mills from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a report on Friday, September 15th. Citigroup Inc. reiterated a “buy” rating and issued a $67.00 price objective on shares of General Mills in a report on Thursday, September 21st. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $55.00 price objective (down from $58.00) on shares of General Mills in a report on Sunday, June 25th. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. General Mills has an average rating of “Hold” and an average target price of $56.60.
General Mills (NYSE:GIS) opened at 52.01 on Monday. General Mills has a 52-week low of $50.12 and a 52-week high of $64.06. The firm has a 50-day moving average price of $52.87 and a 200 day moving average price of $55.45. The company has a market capitalization of $29.56 billion, a P/E ratio of 18.63 and a beta of 0.61.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Boston Advisors LLC raised its position in General Mills by 1.8% during the 2nd quarter. Boston Advisors LLC now owns 20,859 shares of the company’s stock valued at $1,156,000 after purchasing an additional 375 shares during the last quarter. Bfsg LLC bought a new position in General Mills during the 1st quarter valued at approximately $2,843,000. PVG Asset Management Corp bought a new position in General Mills during the 1st quarter valued at approximately $6,352,000. Benjamin F. Edwards & Company Inc. raised its position in General Mills by 18.6% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 65,472 shares of the company’s stock valued at $3,627,000 after purchasing an additional 10,250 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in General Mills by 146.2% during the 1st quarter. Renaissance Technologies LLC now owns 2,004,300 shares of the company’s stock valued at $118,274,000 after purchasing an additional 1,190,200 shares during the last quarter. 70.45% of the stock is owned by institutional investors and hedge funds.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend is Friday, October 6th. General Mills’s payout ratio is 70.25%.
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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