Equities research analysts expect General Mills, Inc. (NYSE:GIS) to post sales of $4.09 billion for the current quarter, Zacks reports. Five analysts have made estimates for General Mills’ earnings, with the highest sales estimate coming in at $4.13 billion and the lowest estimate coming in at $4.07 billion. General Mills also posted sales of $4.09 billion in the same quarter last year. The firm is scheduled to issue its next quarterly earnings report on Tuesday, September 17th.
According to Zacks, analysts expect that General Mills will report full-year sales of $17.42 billion for the current financial year, with estimates ranging from $17.30 billion to $17.54 billion. For the next fiscal year, analysts forecast that the company will report sales of $17.34 billion, with estimates ranging from $17.18 billion to $17.61 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow General Mills.
General Mills (NYSE:GIS) last issued its quarterly earnings results on Wednesday, June 26th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.07. General Mills had a return on equity of 27.67% and a net margin of 10.39%. The company had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter last year, the company posted $0.79 EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year.
Shares of GIS traded down $0.12 during midday trading on Friday, hitting $53.44. The company’s stock had a trading volume of 3,419,472 shares, compared to its average volume of 4,739,976. General Mills has a one year low of $36.42 and a one year high of $54.74. The company’s fifty day moving average price is $52.53. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.59 and a quick ratio of 0.37. The company has a market cap of $32.17 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 2.27 and a beta of 0.77.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Tuesday, July 9th. General Mills’s dividend payout ratio (DPR) is 60.87%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legacy Advisors LLC acquired a new position in General Mills during the 1st quarter worth about $31,000. Certified Advisory Corp lifted its holdings in General Mills by 100.9% during the 1st quarter. Certified Advisory Corp now owns 643 shares of the company’s stock worth $33,000 after buying an additional 323 shares during the period. Meridian Wealth Management LLC acquired a new position in General Mills during the 1st quarter worth about $35,000. Thor Advisors LLC acquired a new position in General Mills during the 1st quarter worth about $40,000. Finally, Penserra Capital Management LLC acquired a new position in General Mills during the 1st quarter worth about $40,000. 69.77% of the stock is currently owned by institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for General Mills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills and related companies with MarketBeat.com's FREE daily email newsletter.