General Mills (NYSE:GIS) Releases FY 2020 Earnings Guidance

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General Mills (NYSE:GIS) updated its FY 2020 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $3.32-3.38 for the period, compared to the Thomson Reuters consensus estimate of $3.36.

General Mills stock opened at $54.39 on Friday. The company has a market cap of $33.21 billion, a P/E ratio of 16.89, a price-to-earnings-growth ratio of 2.33 and a beta of 0.74. General Mills has a 1-year low of $36.42 and a 1-year high of $56.40. The company has a fifty day simple moving average of $54.08 and a 200 day simple moving average of $52.11. The company has a current ratio of 0.59, a quick ratio of 0.37 and a debt-to-equity ratio of 1.58.

General Mills (NYSE:GIS) last announced its quarterly earnings data on Wednesday, September 18th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.02. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.08 billion. General Mills had a net margin of 10.39% and a return on equity of 27.67%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 EPS. On average, equities research analysts forecast that General Mills will post 3.37 EPS for the current year.

GIS has been the subject of a number of research analyst reports. Evercore ISI initiated coverage on shares of General Mills in a research report on Tuesday, June 11th. They set an in-line rating and a $56.00 price objective for the company. Piper Jaffray Companies upped their price objective on shares of General Mills from $50.00 to $56.00 and gave the stock a neutral rating in a research report on Wednesday, July 10th. Guggenheim upped their price objective on shares of General Mills from $58.00 to $65.00 and gave the stock a buy rating in a research report on Wednesday, July 10th. UBS Group upped their price objective on shares of General Mills from $48.00 to $52.00 and gave the stock a neutral rating in a research report on Thursday, June 27th. Finally, Edward Jones upgraded shares of General Mills from a hold rating to a buy rating in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. General Mills presently has an average rating of Hold and an average target price of $53.56.

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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