Wall Street brokerages expect General Mills, Inc. (NYSE:GIS) to post earnings of $0.77 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for General Mills’ earnings, with the lowest EPS estimate coming in at $0.75 and the highest estimate coming in at $0.80. General Mills reported earnings of $0.78 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 1.3%. The firm is scheduled to report its next earnings results on Wednesday, September 20th.
According to Zacks, analysts expect that General Mills will report full year earnings of $3.13 per share for the current year, with EPS estimates ranging from $3.10 to $3.18. For the next financial year, analysts anticipate that the business will report earnings of $3.26 per share, with EPS estimates ranging from $3.15 to $3.36. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover General Mills.
General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, June 28th. The company reported $0.73 EPS for the quarter, beating the consensus estimate of $0.71 by $0.02. General Mills had a return on equity of 38.97% and a net margin of 10.61%. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the prior year, the business earned $0.66 earnings per share. General Mills’s revenue for the quarter was down 3.1% on a year-over-year basis.
A number of equities research analysts have commented on GIS shares. Susquehanna Bancshares Inc set a $59.00 target price on shares of General Mills and gave the stock a “hold” rating in a research report on Sunday, June 25th. Zacks Investment Research raised shares of General Mills from a “sell” rating to a “hold” rating in a research report on Monday, March 27th. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and issued a $52.00 target price (down previously from $59.00) on shares of General Mills in a research report on Friday, June 30th. BidaskClub raised shares of General Mills from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Finally, Stifel Nicolaus dropped their price target on shares of General Mills from $60.00 to $55.00 and set a “hold” rating on the stock in a research note on Thursday, June 29th. Seven analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. General Mills presently has an average rating of “Hold” and a consensus price target of $59.93.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IFM Investors Pty Ltd bought a new stake in shares of General Mills during the fourth quarter worth about $509,000. Westwood Holdings Group Inc. increased its stake in shares of General Mills by 52.1% in the fourth quarter. Westwood Holdings Group Inc. now owns 2,701,863 shares of the company’s stock worth $166,894,000 after buying an additional 925,485 shares in the last quarter. Numeric Investors LLC bought a new stake in shares of General Mills during the fourth quarter worth about $204,000. Jarislowsky Fraser Ltd bought a new stake in shares of General Mills during the fourth quarter worth about $532,000. Finally, Willis Investment Counsel increased its stake in shares of General Mills by 5.8% in the fourth quarter. Willis Investment Counsel now owns 179,500 shares of the company’s stock worth $11,088,000 after buying an additional 9,800 shares in the last quarter. Institutional investors own 70.44% of the company’s stock.
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General Mills (GIS) traded up 1.17% during trading on Thursday, reaching $55.12. The company had a trading volume of 3,129,069 shares. The firm has a market capitalization of $31.81 billion, a PE ratio of 19.90 and a beta of 0.61. General Mills has a 12-month low of $53.24 and a 12-month high of $72.51. The firm’s 50 day moving average price is $55.63 and its 200 day moving average price is $58.46.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Monday, July 10th will be paid a dividend of $0.49 per share. This is a boost from General Mills’s previous quarterly dividend of $0.48. The ex-dividend date is Thursday, July 6th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.56%. General Mills’s payout ratio is 70.76%.
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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