$4.06 Billion in Sales Expected for General Mills, Inc. (GIS) This Quarter
Wall Street brokerages expect General Mills, Inc. (NYSE:GIS) to report $4.06 billion in sales for the current quarter, according to Zacks. Five analysts have provided estimates for General Mills’ earnings, with the lowest sales estimate coming in at $3.99 billion and the highest estimate coming in at $4.10 billion. General Mills posted sales of $4.11 billion during the same quarter last year, which suggests a negative year over year growth rate of 1.2%. The business is expected to report its next quarterly earnings report on Tuesday, December 19th.
On average, analysts expect that General Mills will report full-year sales of $4.06 billion for the current year, with estimates ranging from $15.39 billion to $15.59 billion. For the next fiscal year, analysts expect that the firm will report sales of $15.64 billion per share, with estimates ranging from $15.38 billion to $16.05 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover General Mills.
General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, September 20th. The company reported C$0.71 EPS for the quarter, missing analysts’ consensus estimates of C$0.76 by C($0.05). The firm had revenue of C$3.77 billion during the quarter, compared to the consensus estimate of C$3.79 billion. General Mills had a net margin of 10.68% and a return on equity of 39.82%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 earnings per share.
A number of analysts have recently commented on the company. Zacks Investment Research upgraded General Mills from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. BidaskClub raised General Mills from a “hold” rating to a “buy” rating in a research report on Tuesday, August 22nd. Susquehanna Bancshares Inc reaffirmed a “hold” rating and issued a $58.00 target price on shares of General Mills in a research report on Tuesday, September 19th. Piper Jaffray Companies set a $56.00 target price on General Mills and gave the company a “sell” rating in a research report on Monday, August 7th. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of General Mills in a research report on Tuesday, August 8th. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of C$56.60.
Shares of General Mills (NYSE:GIS) opened at C$53.28 on Monday. The company has a market capitalization of $30,281.07, a PE ratio of 17.70, a PEG ratio of 1.99 and a beta of 0.63. General Mills has a twelve month low of C$49.65 and a twelve month high of C$64.06. The company has a quick ratio of 0.47, a current ratio of 0.74 and a debt-to-equity ratio of 1.83.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date of this dividend was Friday, October 6th. General Mills’s dividend payout ratio (DPR) is presently 70.25%.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Hancock Holding Co. grew its position in shares of General Mills by 3.3% in the first quarter. Hancock Holding Co. now owns 3,847 shares of the company’s stock valued at $227,000 after purchasing an additional 124 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of General Mills by 5.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 352,989 shares of the company’s stock valued at $20,831,000 after purchasing an additional 17,794 shares during the last quarter. United Bank Inc. grew its position in shares of General Mills by 18.0% in the first quarter. United Bank Inc. now owns 7,965 shares of the company’s stock valued at $470,000 after purchasing an additional 1,213 shares during the last quarter. Hanson McClain Inc. grew its position in shares of General Mills by 1.5% in the first quarter. Hanson McClain Inc. now owns 2,346 shares of the company’s stock valued at $138,000 after purchasing an additional 35 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in shares of General Mills by 3.2% in the first quarter. Pacer Advisors Inc. now owns 11,735 shares of the company’s stock valued at $692,000 after purchasing an additional 365 shares during the last quarter. 69.88% of the stock is currently owned by hedge funds and other institutional investors.
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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