General Mills, Inc. (NYSE:GIS) posted its quarterly earnings results on Wednesday, June 28th. The company reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.02, RTT News reports. The business had revenue of $3.81 billion for the quarter, compared to the consensus estimate of $3.75 billion. General Mills had a return on equity of 38.97% and a net margin of 10.61%. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 EPS. General Mills updated its FY18 guidance to $3.10-3.13 EPS.
Shares of General Mills (NYSE GIS) opened at 54.15 on Tuesday. The firm’s 50-day moving average price is $56.80 and its 200 day moving average price is $59.47. The stock has a market capitalization of $31.25 billion, a price-to-earnings ratio of 19.55 and a beta of 0.61. General Mills has a 1-year low of $53.24 and a 1-year high of $72.70.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th will be paid a dividend of $0.49 per share. This is a positive change from General Mills’s previous quarterly dividend of $0.48. This represents a $1.96 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Thursday, July 6th. General Mills’s payout ratio is 70.76%.
GIS has been the subject of several analyst reports. Zacks Investment Research raised General Mills from a “sell” rating to a “hold” rating in a report on Monday, March 20th. Sanford C. Bernstein cut General Mills from a “market perform” rating to an “underperform” rating and set a $52.00 price objective for the company. in a report on Tuesday, March 21st. BMO Capital Markets reissued a “hold” rating and issued a $67.00 price objective on shares of General Mills in a report on Wednesday, March 22nd. Stifel Nicolaus cut General Mills from a “buy” rating to a “hold” rating and decreased their price objective for the company from $67.00 to $60.00 in a report on Wednesday, March 22nd. Finally, Royal Bank Of Canada decreased their price objective on General Mills from $66.00 to $65.00 and set a “sector perform” rating for the company in a report on Wednesday, March 22nd. Seven analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $59.93.
General Mills Company Profile
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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