General Mills, Inc. (GIS) Expected to Announce Earnings of $0.82 Per Share

Equities research analysts predict that General Mills, Inc. (NYSE:GIS) will report earnings per share of $0.82 for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for General Mills’ earnings, with the highest EPS estimate coming in at $0.84 and the lowest estimate coming in at $0.76. General Mills also posted earnings per share of $0.82 in the same quarter last year. The company is expected to announce its next quarterly earnings report on Wednesday, December 19th.

According to Zacks, analysts expect that General Mills will report full-year earnings of $3.07 per share for the current fiscal year, with EPS estimates ranging from $3.01 to $3.11. For the next year, analysts expect that the company will report earnings of $3.27 per share, with EPS estimates ranging from $3.18 to $3.40. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow General Mills.

General Mills (NYSE:GIS) last released its quarterly earnings data on Tuesday, September 18th. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.64 by $0.07. The company had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.12 billion. General Mills had a return on equity of 31.84% and a net margin of 13.19%. General Mills’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the business posted $0.71 EPS.

Several research analysts have commented on GIS shares. ValuEngine upgraded General Mills from a “strong sell” rating to a “sell” rating in a report on Thursday, October 11th. Royal Bank of Canada restated a “sector perform” rating and set a $52.00 price objective on shares of General Mills in a report on Monday, September 17th. Credit Suisse Group set a $46.00 price objective on General Mills and gave the stock a “hold” rating in a report on Wednesday, September 19th. Piper Jaffray Companies set a $47.00 price objective on General Mills and gave the stock a “hold” rating in a report on Wednesday, September 19th. Finally, Morgan Stanley reduced their price objective on General Mills from $48.00 to $47.00 and set a “hold” rating on the stock in a report on Thursday, September 20th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $50.29.

GIS opened at $45.23 on Friday. The firm has a market cap of $27.12 billion, a price-to-earnings ratio of 14.54, a PEG ratio of 1.91 and a beta of 0.60. General Mills has a 52 week low of $41.01 and a 52 week high of $60.69. The company has a current ratio of 0.58, a quick ratio of 0.35 and a debt-to-equity ratio of 1.93.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 1st. Stockholders of record on Thursday, January 10th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Wednesday, January 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.33%. General Mills’s dividend payout ratio is presently 63.02%.

In related news, Director Maria Sastre purchased 1,000 shares of the business’s stock in a transaction dated Monday, August 20th. The shares were acquired at an average cost of $47.37 per share, for a total transaction of $47,370.00. Following the acquisition, the director now owns 1,000 shares of the company’s stock, valued at approximately $47,370. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.40% of the company’s stock.

Several large investors have recently made changes to their positions in GIS. MERIAN GLOBAL INVESTORS UK Ltd acquired a new stake in shares of General Mills in the 3rd quarter worth $321,000. Financial Counselors Inc. boosted its position in shares of General Mills by 4.0% in the 3rd quarter. Financial Counselors Inc. now owns 204,922 shares of the company’s stock worth $8,795,000 after purchasing an additional 7,917 shares in the last quarter. Centaurus Financial Inc. boosted its position in shares of General Mills by 324.2% in the 2nd quarter. Centaurus Financial Inc. now owns 15,924 shares of the company’s stock worth $705,000 after purchasing an additional 12,170 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of General Mills by 61.6% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 32,981 shares of the company’s stock worth $1,460,000 after purchasing an additional 12,576 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of General Mills by 10.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 174,392 shares of the company’s stock worth $7,482,000 after purchasing an additional 16,483 shares in the last quarter. Institutional investors and hedge funds own 70.50% of the company’s stock.

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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