$4.09 Billion in Sales Expected for General Mills, Inc. (NYSE:GIS) This Quarter

Share on StockTwits

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.

Several brokerages have recently issued reports on GIS. Guggenheim lifted their price target on General Mills from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday. Jefferies Financial Group raised their price objective on Just Eat from GBX 1,050 ($13.72) to GBX 1,150 ($15.03) and gave the company a “buy” rating in a report on Wednesday, March 20th. Citigroup downgraded Biogen from a “buy” rating to a “neutral” rating and cut their price objective for the company from $470.00 to $230.00 in a report on Thursday, March 21st. Piper Jaffray Companies raised their price objective on General Mills from $50.00 to $56.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, ValuEngine raised ZEALAND PHARMA/S from a “sell” rating to a “hold” rating in a report on Friday, March 15th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. General Mills currently has an average rating of “Hold” and an average price target of $52.66.

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.

See Also: Moving Average – How it Helps Investors in Stock Selection

Get a free copy of the Zacks research report on General Mills (GIS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for General Mills (NYSE:GIS)

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.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.