$0.76 EPS Expected for General Mills, Inc. (NYSE:GIS) This Quarter

Wall Street analysts expect General Mills, Inc. (NYSE:GIS) to report earnings of $0.76 per share for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for General Mills’ earnings. The lowest EPS estimate is $0.74 and the highest is $0.78. General Mills reported earnings of $0.71 per share in the same quarter last year, which suggests a positive year over year growth rate of 7%. The business is expected to issue its next quarterly earnings report on Tuesday, September 17th.

According to Zacks, analysts expect that General Mills will report full-year earnings of $3.37 per share for the current fiscal year, with EPS estimates ranging from $3.35 to $3.39. For the next financial year, analysts forecast that the firm will report earnings of $3.50 per share, with EPS estimates ranging from $3.41 to $3.62. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for General Mills.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, June 26th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.07. The business had revenue of $4.16 billion for the quarter, compared to analysts’ expectations of $4.24 billion. General Mills had a return on equity of 27.67% and a net margin of 10.39%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 EPS.

A number of analysts have recently weighed in on GIS shares. TheStreet raised General Mills from a “c+” rating to a “b-” rating in a research report on Friday, March 15th. Deutsche Bank raised General Mills from a “hold” rating to a “buy” rating and raised their price objective for the stock from $43.00 to $54.00 in a research report on Thursday, March 14th. Jefferies Financial Group reissued a “buy” rating and issued a $55.00 price objective on shares of General Mills in a research report on Wednesday, March 20th. Morgan Stanley raised their price objective on General Mills from $41.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. Finally, ValuEngine raised General Mills from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. General Mills has an average rating of “Hold” and a consensus target price of $51.10.

Shares of General Mills stock traded down $1.04 during trading on Thursday, reaching $53.01. The company’s stock had a trading volume of 159,324 shares, compared to its average volume of 4,456,077. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.37 and a current ratio of 0.59. The stock has a market capitalization of $32.61 billion, a P/E ratio of 16.46, a price-to-earnings-growth ratio of 2.30 and a beta of 0.77. General Mills has a 1-year low of $36.42 and a 1-year high of $54.63. The company has a 50-day moving average price of $52.45.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 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 3.70%. The ex-dividend date of this dividend is Tuesday, July 9th. General Mills’s dividend payout ratio (DPR) is presently 60.87%.

Large investors have recently bought and sold shares of the company. Legacy Advisors LLC acquired a new position in shares of General Mills during the 1st quarter worth approximately $31,000. Certified Advisory Corp boosted its holdings in shares of General Mills by 100.9% during the 1st quarter. Certified Advisory Corp now owns 643 shares of the company’s stock worth $33,000 after purchasing an additional 323 shares during the last quarter. Meridian Wealth Management LLC acquired a new position in shares of General Mills during the 1st quarter worth approximately $35,000. BDO Wealth Advisors LLC acquired a new position in shares of General Mills during the 4th quarter worth approximately $37,000. Finally, Penserra Capital Management LLC acquired a new position in shares of General Mills during the 1st quarter worth approximately $40,000. Hedge funds and other institutional investors own 69.77% of the company’s stock.

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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