Brokerages Anticipate General Mills (GIS) to Announce $0.75 Earnings Per Share

Equities research analysts predict that General Mills (NYSE:GIS) will post earnings per share of $0.75 for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for General Mills’ earnings, with estimates ranging from $0.71 to $0.82. General Mills posted earnings of $0.73 per share in the same quarter last year, which would indicate a positive year over year growth rate of 2.7%. The firm is expected to report its next quarterly earnings report on Wednesday, June 27th.

On average, analysts expect that General Mills will report full year earnings of $3.07 per share for the current financial year, with EPS estimates ranging from $3.02 to $3.14. For the next year, analysts anticipate that the business will post earnings of $3.12 per share, with EPS estimates ranging from $3.00 to $3.24. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover General Mills.

General Mills (NYSE:GIS) last posted its quarterly earnings results on Wednesday, March 21st. The company reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.01. The business had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.87 billion. General Mills had a net margin of 13.96% and a return on equity of 37.64%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 earnings per share.

Several research firms have commented on GIS. Credit Suisse Group restated a “neutral” rating and issued a $58.00 price target (down previously from $62.00) on shares of General Mills in a research note on Wednesday, February 21st. Susquehanna Bancshares set a $61.00 target price on shares of General Mills and gave the stock a “hold” rating in a research note on Friday, February 23rd. Jefferies Group upgraded shares of General Mills from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Wednesday, February 14th. Societe Generale downgraded shares of General Mills from a “buy” rating to a “hold” rating and lowered their target price for the stock from $52.98 to $48.00 in a research note on Monday, February 26th. Finally, JPMorgan Chase lowered their target price on shares of General Mills from $56.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday, March 14th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $53.43.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Avestar Capital LLC purchased a new stake in General Mills in the fourth quarter valued at $100,000. Truewealth LLC purchased a new stake in General Mills in the fourth quarter valued at $119,000. Financial Gravity Companies Inc. purchased a new stake in General Mills in the fourth quarter valued at $131,000. Lee Financial Co lifted its position in General Mills by 178.2% in the first quarter. Lee Financial Co now owns 2,504 shares of the company’s stock valued at $113,000 after acquiring an additional 1,604 shares during the last quarter. Finally, Institutional & Family Asset Management LLC purchased a new stake in General Mills in the first quarter valued at $115,000. 73.99% of the stock is owned by hedge funds and other institutional investors.

General Mills opened at $41.82 on Friday, Marketbeat Ratings reports. The firm has a market capitalization of $23.80 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 1.82 and a beta of 0.76. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.69 and a quick ratio of 0.45. General Mills has a 52 week low of $41.01 and a 52 week high of $60.69.

General Mills announced that its Board of Directors has authorized a share repurchase plan on Friday, February 23rd that authorizes the company to repurchase shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th were given a $0.49 dividend. The ex-dividend date was Monday, April 9th. This represents a $1.96 dividend on an annualized basis and a yield of 4.69%. General Mills’s dividend payout ratio (DPR) is presently 63.64%.

About General Mills

General Mills, Inc manufactures and markets branded consumer foods in the United States. The company operates in four segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; and Asia & Latin America. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, shelf stable and frozen vegetables, and ice cream and frozen desserts, as well as grain, fruit and savory snacks; and various organic products, including nutrition bars, meal kits, salty snacks, and ready-to-eat cereal.

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Earnings History and Estimates for General Mills (NYSE:GIS)

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