Analysts Expect General Mills, Inc. (NYSE:GIS) to Post $0.77 Earnings Per Share
Wall Street brokerages expect General Mills, Inc. (NYSE:GIS) to report $0.77 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for General Mills’ earnings. The highest EPS estimate is $0.79 and the lowest is $0.75. General Mills posted earnings of $0.71 per share during the same quarter last year, which suggests a positive year over year growth rate of 8.5%. The firm is expected to report its next quarterly earnings results on Tuesday, September 17th.
On average, 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 $3.40. For the next fiscal year, analysts expect that the company will post earnings of $3.51 per share, with EPS estimates ranging from $3.41 to $3.62. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover General Mills.
General Mills (NYSE:GIS) last announced its earnings results on Wednesday, June 26th. The company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.07. General Mills had a net margin of 10.39% and a return on equity of 27.67%. The business had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same period in the prior year, the company earned $0.79 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis.
GIS stock traded up $0.69 during midday trading on Friday, reaching $55.02. 4,273,500 shares of the company’s stock traded hands, compared to its average volume of 3,267,836. General Mills has a 52-week low of $36.42 and a 52-week high of $55.29. The stock has a market cap of $32.79 billion, a P/E ratio of 17.09, a PEG ratio of 2.30 and a beta of 0.77. The company has a current ratio of 0.59, a quick ratio of 0.37 and a debt-to-equity ratio of 1.58. The stock’s 50-day moving average is $53.51 and its 200 day moving average is $50.71.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend was Tuesday, July 9th. General Mills’s payout ratio is presently 60.87%.
Institutional investors have recently added to or reduced their stakes in the company. Westside Investment Management Inc. bought a new stake in General Mills during the 2nd quarter valued at approximately $5,185,000. Krane Funds Advisors LLC bought a new position in shares of General Mills during the 2nd quarter worth approximately $25,000. Capital International Ltd. CA bought a new position in shares of General Mills during the 2nd quarter worth approximately $30,000. Employers Holdings Inc. acquired a new stake in General Mills during the 2nd quarter valued at $32,000. Finally, NuWave Investment Management LLC increased its holdings in General Mills by 377.4% during the 2nd quarter. NuWave Investment Management LLC now owns 635 shares of the company’s stock valued at $33,000 after purchasing an additional 502 shares in the last quarter. 69.19% of the stock is owned by institutional investors and hedge funds.
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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