$0.77 Earnings Per Share Expected for General Mills, Inc. (NYSE:GIS) This Quarter

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Analysts forecast that General Mills, Inc. (NYSE:GIS) will announce earnings of $0.77 per share for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for General Mills’ earnings, with estimates ranging from $0.75 to $0.79. General Mills reported earnings per share of $0.71 in the same quarter last year, which suggests a positive year-over-year growth rate of 8.5%. The business is scheduled to announce its next quarterly earnings results before the market opens on Wednesday, September 18th.

On average, analysts expect that General Mills will report full year earnings of $3.37 per share for the current year, with EPS estimates ranging from $3.35 to $3.40. For the next fiscal year, analysts forecast that the company will report earnings of $3.51 per share, with EPS estimates ranging from $3.41 to $3.62. Zacks’ EPS averages are a mean average based on a survey of research firms that cover General Mills.

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

Several equities research analysts have weighed in on GIS shares. Morgan Stanley increased their price objective on General Mills from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, June 27th. Bank of America restated a “neutral” rating and issued a $49.00 target price on shares of General Mills in a research note on Friday, May 17th. Evercore ISI initiated coverage on General Mills in a research note on Tuesday, June 11th. They issued an “in-line” rating and a $56.00 target price for the company. UBS Group raised their target price on General Mills from $48.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, June 27th. Finally, Piper Jaffray Companies raised their target price on General Mills from $50.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $52.98.

NYSE GIS opened at $53.63 on Friday. General Mills has a fifty-two week low of $36.42 and a fifty-two week high of $55.43. 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 50 day simple moving average of $53.70 and a two-hundred day simple moving average of $50.97. The stock has a market cap of $33.00 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 2.32 and a beta of 0.77.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date was Tuesday, July 9th. General Mills’s payout ratio is presently 60.87%.

A number of hedge funds have recently bought and sold shares of GIS. Dimensional Fund Advisors LP lifted its position in General Mills by 21.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,471,138 shares of the company’s stock worth $96,224,000 after buying an additional 433,796 shares in the last quarter. Geode Capital Management LLC lifted its position in General Mills by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 7,230,663 shares of the company’s stock worth $281,036,000 after buying an additional 473,831 shares in the last quarter. Appleton Partners Inc. MA acquired a new position in General Mills during the 1st quarter worth about $322,000. Carroll Financial Associates Inc. lifted its position in General Mills by 34.4% during the 1st quarter. Carroll Financial Associates Inc. now owns 7,740 shares of the company’s stock worth $400,000 after buying an additional 1,979 shares in the last quarter. Finally, IFM Investors Pty Ltd lifted its position in General Mills by 8.0% during the 1st quarter. IFM Investors Pty Ltd now owns 36,878 shares of the company’s stock worth $1,908,000 after buying an additional 2,730 shares in the last quarter. 70.41% of the stock is owned by institutional investors.

General Mills Company Profile

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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