General Mills (GIS) Issues FY 2019 Earnings Guidance

General Mills (NYSE:GIS) updated its FY 2019 earnings guidance on Wednesday. The company provided EPS guidance of $3.11-3.14 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.07. The company issued revenue guidance of $17.157-17.157 billion, compared to the consensus revenue estimate of $16.97 billion.

A number of brokerages have issued reports on GIS. TheStreet raised General Mills from a c+ rating to a b- rating in a research report on Friday, March 15th. ValuEngine raised General Mills from a sell rating to a hold rating in a research report on Friday, March 15th. Deutsche Bank raised General Mills from a hold rating to a buy rating and boosted their target price for the company from $43.00 to $54.00 in a research report on Thursday, March 14th. Guggenheim reissued a buy rating on shares of General Mills in a research report on Tuesday, February 26th. Finally, Wells Fargo & Co boosted their target price on General Mills from $48.00 to $53.00 and gave the company an outperform rating in a research report on Monday, February 25th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $47.61.

General Mills stock opened at $47.24 on Wednesday. General Mills has a twelve month low of $36.42 and a twelve month high of $50.53. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.36 and a current ratio of 0.58. The firm has a market cap of $28.42 billion, a PE ratio of 15.19, a P/E/G ratio of 2.13 and a beta of 0.77.

General Mills (NYSE:GIS) last posted its quarterly earnings data on Wednesday, December 19th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.04. General Mills had a return on equity of 29.44% and a net margin of 12.48%. The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.51 billion. During the same quarter in the prior year, the company earned $0.82 earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. Analysts predict that General Mills will post 3.08 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date is Tuesday, April 9th. General Mills’s dividend payout ratio is currently 63.02%.

In related news, CFO Donal L. Mulligan sold 120,722 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $47.50, for a total value of $5,734,295.00. Following the transaction, the chief financial officer now owns 252,326 shares of the company’s stock, valued at $11,985,485. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director R Kerry Clark sold 7,849 shares of the stock in a transaction on Friday, February 1st. The shares were sold at an average price of $44.26, for a total value of $347,396.74. Following the completion of the transaction, the director now directly owns 30,215 shares in the company, valued at approximately $1,337,315.90. The disclosure for this sale can be found here. 0.59% of the stock is currently owned by corporate insiders.

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About General Mills

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. 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, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.

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

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