Wall Street analysts predict that General Mills, Inc. (NYSE:GIS) will announce $0.78 earnings per share (EPS) for the current quarter, according to Zacks. Five analysts have provided estimates for General Mills’ earnings, with estimates ranging from $0.73 to $0.83. General Mills reported earnings of $0.72 per share in the same quarter last year, which would indicate a positive year over year growth rate of 8.3%. The business is expected to issue its next quarterly earnings report before the market opens on Wednesday, March 21st.
On average, analysts expect that General Mills will report full year earnings of $3.17 per share for the current financial year, with EPS estimates ranging from $3.10 to $3.21. For the next financial year, analysts expect that the business will report earnings of $3.41 per share, with EPS estimates ranging from $3.23 to $3.58. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that follow General Mills.
General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, December 20th. The company reported $0.82 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.82. The business had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.08 billion. General Mills had a net margin of 10.29% and a return on equity of 38.89%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 earnings per share.
In other General Mills news, insider Bethany C. Quam sold 8,712 shares of the company’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $59.40, for a total transaction of $517,492.80. Following the sale, the insider now directly owns 36,089 shares of the company’s stock, valued at $2,143,686.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.40% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. Avestar Capital LLC bought a new stake in shares of General Mills during the fourth quarter valued at approximately $100,000. Cable Hill Partners LLC grew its stake in shares of General Mills by 274.5% during the third quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock valued at $116,000 after purchasing an additional 1,647 shares during the last quarter. Truewealth LLC bought a new stake in shares of General Mills during the fourth quarter valued at approximately $119,000. Grove Bank & Trust grew its stake in shares of General Mills by 322.7% during the third quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock valued at $127,000 after purchasing an additional 1,878 shares during the last quarter. Finally, Financial Gravity Companies Inc. bought a new stake in shares of General Mills during the fourth quarter valued at approximately $131,000. 74.34% of the stock is currently owned by hedge funds and other institutional investors.
General Mills (NYSE GIS) traded up $0.52 during trading hours on Monday, reaching $51.97. 3,644,610 shares of the company traded hands, compared to its average volume of 4,870,000. General Mills has a 52-week low of $49.65 and a 52-week high of $61.34. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.81 and a quick ratio of 0.53. The firm has a market capitalization of $29,570.00, a price-to-earnings ratio of 19.04, a PEG ratio of 2.13 and a beta of 0.72.
General Mills announced that its Board of Directors has authorized a stock buyback program on Friday, February 23rd that permits the company to buyback outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
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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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