Credit Agricole SA Brokers Lift Earnings Estimates for General Mills Inc. (GIS)
General Mills Inc. (NYSE:GIS) – Analysts at Credit Agricole SA upped their FY2017 earnings estimates for General Mills in a report released on Monday. Credit Agricole SA analyst M. Lavery now anticipates that the firm will post earnings of $3.03 per share for the year, up from their previous forecast of $2.92. Credit Agricole SA currently has a “Sell” rating and a $65.00 price target on the stock. Credit Agricole SA also issued estimates for General Mills’ FY2018 earnings at $3.35 EPS and FY2019 earnings at $3.70 EPS.
General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, September 21st. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.03. General Mills had a net margin of 10.33% and a return on equity of 33.82%. The company had revenue of $3.91 billion for the quarter. During the same quarter in the prior year, the firm earned $0.79 EPS. General Mills’s quarterly revenue was down 7.3% compared to the same quarter last year.
Other equities research analysts have also issued research reports about the stock. RBC Capital Markets reissued an “outperform” rating and set a $73.00 target price on shares of General Mills in a research report on Friday, September 23rd. Zacks Investment Research raised shares of General Mills from a “sell” rating to a “hold” rating in a research report on Friday, September 23rd. Credit Suisse Group AG reissued a “hold” rating and set a $68.00 target price on shares of General Mills in a research report on Thursday, September 22nd. Consumer Edge downgraded shares of General Mills from a “neutral” rating to an “underperform” rating in a research report on Tuesday, September 20th. Finally, Barclays PLC reissued an “equal weight” rating and set a $66.00 target price on shares of General Mills in a research report on Friday, September 23rd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $68.22.
Shares of General Mills (NYSE:GIS) traded up 0.041% during midday trading on Wednesday, reaching $61.285. 332,147 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $61.92 and its 200 day moving average price is $66.09. The company has a market cap of $36.24 billion, a price-to-earnings ratio of 22.285 and a beta of 0.55. General Mills has a 12-month low of $53.53 and a 12-month high of $72.95.
Institutional investors have recently made changes to their positions in the stock. Hallmark Capital Management Inc. purchased a new position in General Mills during the second quarter worth $103,000. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in General Mills during the second quarter worth $107,000. Brick & Kyle Associates raised its position in General Mills by 6.7% in the second quarter. Brick & Kyle Associates now owns 1,592 shares of the company’s stock worth $114,000 after buying an additional 100 shares during the period. Penserra Capital Management LLC raised its position in General Mills by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,728 shares of the company’s stock worth $110,000 after buying an additional 864 shares during the period. Finally, Lenox Wealth Advisors Inc. raised its position in General Mills by 0.7% in the second quarter. Lenox Wealth Advisors Inc. now owns 1,778 shares of the company’s stock worth $127,000 after buying an additional 13 shares during the period. Institutional investors own 70.19% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date was Wednesday, October 5th. General Mills’s dividend payout ratio is presently 69.82%.
About General Mills
General Mills, Inc is a manufacturer and marketer of branded consumer foods sold through retail stores. The Company is a supplier of branded and unbranded food products to the North American foodservice and commercial baking industries. The Company has three segments: U.S. Retail, International, and Convenience Stores and Foodservice.
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