Zacks: Brokerages Expect General Mills, Inc. (NYSE:GIS) to Announce $0.76 EPS

Wall Street analysts expect General Mills, Inc. (NYSE:GIS) to post $0.76 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for General Mills’ earnings, with estimates ranging from $0.74 to $0.79. General Mills reported earnings per share of $0.79 in the same quarter last year, which indicates a negative year over year growth rate of 3.8%. The company is scheduled to report its next earnings results before the market opens on Wednesday, June 26th.

According to Zacks, analysts expect that General Mills will report full year earnings of $3.15 per share for the current year, with EPS estimates ranging from $3.13 to $3.18. For the next financial year, analysts forecast that the company will post earnings of $3.34 per share, with EPS estimates ranging from $3.24 to $3.48. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow General Mills.

General Mills (NYSE:GIS) last posted its earnings results on Wednesday, March 20th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.14. The company had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.21 billion. General Mills had a net margin of 9.26% and a return on equity of 28.11%. General Mills’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.79 EPS.

A number of analysts have recently issued reports on GIS shares. TheStreet upgraded shares of General Mills from a “c+” rating to a “b-” rating in a research note on Friday, March 15th. Deutsche Bank upgraded shares of General Mills from a “hold” rating to a “buy” rating and raised their target price for the stock from $43.00 to $54.00 in a research note on Thursday, March 14th. Guggenheim restated a “buy” rating on shares of General Mills in a research note on Tuesday, February 26th. Jefferies Financial Group restated a “buy” rating and set a $55.00 target price on shares of General Mills in a research note on Wednesday, March 20th. Finally, Morgan Stanley raised their target price on shares of General Mills from $41.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and two have given a strong buy rating to the company. General Mills presently has a consensus rating of “Hold” and an average price target of $50.16.

In related news, Director R Kerry Clark sold 14,836 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $51.57, for a total transaction of $765,092.52. Following the transaction, the director now directly owns 62,211 shares of the company’s stock, valued at $3,208,221.27. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John R. Church sold 4,719 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $50.78, for a total transaction of $239,630.82. Following the completion of the transaction, the insider now directly owns 34,112 shares in the company, valued at $1,732,207.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 323,500 shares of company stock worth $16,030,489. 0.59% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Legacy Advisors LLC bought a new position in General Mills in the 1st quarter valued at about $31,000. Certified Advisory Corp increased its holdings in General Mills by 100.9% in the 1st quarter. Certified Advisory Corp now owns 643 shares of the company’s stock valued at $33,000 after buying an additional 323 shares during the period. Meridian Wealth Management LLC bought a new position in General Mills in the 1st quarter valued at about $35,000. Massmutual Trust Co. FSB ADV increased its holdings in General Mills by 57.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 687 shares of the company’s stock valued at $36,000 after buying an additional 250 shares during the period. Finally, Acima Private Wealth LLC bought a new position in General Mills in the 4th quarter valued at about $29,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

NYSE GIS opened at $52.99 on Tuesday. The company has a quick ratio of 0.35, a current ratio of 0.55 and a debt-to-equity ratio of 1.61. The stock has a market cap of $31.50 billion, a PE ratio of 17.04, a P/E/G ratio of 2.25 and a beta of 0.75. General Mills has a 52-week low of $36.42 and a 52-week high of $53.66.

General Mills Company Profile

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

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