Wall Street analysts expect General Mills (NYSE:GIS) to report earnings per share (EPS) of $0.77 for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for General Mills’ earnings. The lowest EPS estimate is $0.74 and the highest is $0.82. General Mills reported earnings of $0.73 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 5.5%. The business is scheduled to report its next earnings report on Wednesday, June 27th.
On average, analysts expect that General Mills will report full-year earnings of $3.09 per share for the current financial year, with EPS estimates ranging from $3.05 to $3.14. For the next fiscal year, analysts expect that the business will post earnings of $3.15 per share, with EPS estimates ranging from $3.08 to $3.25. Zacks’ EPS averages 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, March 21st. The company reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.01. The firm had revenue of $3.88 billion during the quarter, compared to analysts’ expectations of $3.87 billion. General Mills had a net margin of 13.96% and a return on equity of 37.64%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company posted $0.72 EPS.
GIS has been the subject of a number of research analyst reports. JPMorgan Chase lowered their price objective on shares of General Mills to $44.00 and set a “neutral” rating for the company in a research report on Thursday, March 22nd. Argus reaffirmed a “hold” rating on shares of General Mills in a research report on Wednesday, December 27th. TheStreet cut shares of General Mills from a “b-” rating to a “c+” rating in a research report on Monday, April 2nd. Piper Jaffray reaffirmed a “hold” rating and set a $49.00 price objective on shares of General Mills in a research report on Thursday, March 22nd. Finally, Zacks Investment Research cut shares of General Mills from a “hold” rating to a “sell” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $53.71.
Institutional investors and hedge funds have recently made changes to their positions in the company. Avestar Capital LLC acquired a new stake in shares of General Mills in the 4th quarter valued at $100,000. Truewealth LLC acquired a new stake in shares of General Mills in the 4th quarter valued at $119,000. Financial Gravity Companies Inc. acquired a new stake in shares of General Mills in the 4th quarter valued at $131,000. Grove Bank & Trust raised its holdings in shares of General Mills by 322.7% in the 3rd 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 in the last quarter. Finally, Delpha Capital Management LLC acquired a new stake in shares of General Mills in the 4th quarter valued at $161,000. Institutional investors and hedge funds own 74.22% of the company’s stock.
NYSE:GIS opened at $44.38 on Friday. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.69 and a quick ratio of 0.45. The company has a market cap of $25,453.33, a P/E ratio of 14.30, a P/E/G ratio of 2.01 and a beta of 0.76. General Mills has a fifty-two week low of $43.72 and a fifty-two week high of $60.69.
General Mills announced that its Board of Directors has authorized a share buyback plan on Friday, February 23rd that permits the company to repurchase outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be issued a $0.49 dividend. The ex-dividend date is Monday, April 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.42%. General Mills’s payout ratio is 63.64%.
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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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