Equities research analysts predict that General Mills, Inc. (NYSE:GIS) will report $0.80 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for General Mills’ earnings. The lowest EPS estimate is $0.77 and the highest is $0.83. General Mills reported earnings of $0.72 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 11.1%. The firm is scheduled to announce its next earnings results before the market opens on Wednesday, March 21st.
According to Zacks, analysts expect that General Mills will report full-year earnings of $3.17 per share for the current fiscal year, with EPS estimates ranging from $3.10 to $3.21. For the next financial year, analysts expect that the firm will report earnings of $3.43 per share, with EPS estimates ranging from $3.26 to $3.58. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow General Mills.
General Mills (NYSE:GIS) last issued its earnings results on Wednesday, December 20th. The company reported $0.82 earnings per share for the quarter, hitting the consensus estimate of $0.82. The company had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.08 billion. General Mills had a net margin of 10.29% and a return on equity of 38.89%. General Mills’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 EPS.
General Mills (NYSE GIS) opened at $51.81 on Monday. The firm has a market cap of $29,584.59, a price-to-earnings ratio of 18.98, a P/E/G ratio of 2.15 and a beta of 0.72. The company has a quick ratio of 0.53, a current ratio of 0.81 and a debt-to-equity ratio of 1.79. General Mills has a 1-year low of $49.65 and a 1-year high of $61.34.
General Mills announced that its Board of Directors has approved a stock repurchase program on Friday, February 23rd that authorizes the company to repurchase outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
In other General Mills news, insider Bethany C. Quam sold 8,712 shares of the business’s stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $59.40, for a total value of $517,492.80. Following the sale, the insider now owns 36,089 shares in the company, valued at approximately $2,143,686.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Avestar Capital LLC purchased a new stake in shares of General Mills during the 4th quarter valued at about $100,000. Truewealth LLC purchased a new stake in shares of General Mills during the 4th quarter valued at about $119,000. Financial Gravity Companies Inc. purchased a new stake in shares of General Mills during the 4th quarter valued at about $131,000. Cable Hill Partners LLC raised its position in shares of General Mills by 274.5% during the 3rd quarter. Cable Hill Partners LLC now owns 2,247 shares of the company’s stock valued at $116,000 after buying an additional 1,647 shares in the last quarter. Finally, Grove Bank & Trust raised its position in shares of General Mills by 322.7% during the 3rd quarter. Grove Bank & Trust now owns 2,460 shares of the company’s stock valued at $127,000 after buying an additional 1,878 shares in the last quarter. Hedge funds and other institutional investors own 74.34% of the company’s stock.
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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