Zacks: Analysts Anticipate General Mills, Inc. (NYSE:GIS) Will Announce Quarterly Sales of $4.09 Billion

Equities research analysts forecast that General Mills, Inc. (NYSE:GIS) will announce sales of $4.09 billion for the current quarter, according to Zacks. Five analysts have provided 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 during the same quarter last year. The company is expected to issue its next earnings report on Tuesday, September 17th.

On average, analysts expect that General Mills will report full-year sales of $17.42 billion for the current fiscal year, with estimates ranging from $17.30 billion to $17.54 billion. For the next fiscal year, analysts forecast that the company will post sales of $17.34 billion, with estimates ranging from $17.18 billion to $17.61 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover General Mills.

General Mills (NYSE:GIS) last announced its quarterly earnings results on Wednesday, June 26th. The company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.07. General Mills had a net margin of 10.39% and a return on equity of 27.67%. The company had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter last year, the firm earned $0.79 earnings per share. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year.

A number of research analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of General Mills from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, June 27th. Wells Fargo & Co restated a “hold” rating and issued a $160.00 price objective on shares of Willis Towers Watson in a report on Friday, March 22nd. Jefferies Financial Group lifted their price objective on shares of 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. BMO Capital Markets restated a “sell” rating on shares of Bonterra Energy in a report on Thursday, March 21st. Finally, TheStreet upgraded shares of Tupperware Brands from a “d+” rating to a “c” rating in a report on Friday, March 15th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $52.66.

Large investors have recently modified their holdings of the company. Old North State Trust LLC raised its position in General Mills by 5.9% in the 1st quarter. Old North State Trust LLC now owns 3,508 shares of the company’s stock valued at $181,000 after purchasing an additional 195 shares during the last quarter. Montecito Bank & Trust raised its position in General Mills by 2.6% in the 1st quarter. Montecito Bank & Trust now owns 7,928 shares of the company’s stock valued at $410,000 after purchasing an additional 200 shares during the last quarter. Louisiana State Employees Retirement System raised its position in General Mills by 0.6% in the 1st quarter. Louisiana State Employees Retirement System now owns 31,500 shares of the company’s stock valued at $1,630,000 after purchasing an additional 200 shares during the last quarter. Winslow Evans & Crocker Inc. raised its position in General Mills by 5.2% in the 1st quarter. Winslow Evans & Crocker Inc. now owns 4,042 shares of the company’s stock valued at $212,000 after purchasing an additional 200 shares during the last quarter. Finally, Marietta Investment Partners LLC raised its position in General Mills by 3.3% in the 1st quarter. Marietta Investment Partners LLC now owns 6,200 shares of the company’s stock valued at $321,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 69.77% of the company’s stock.

NYSE:GIS traded down $0.12 during midday trading on Friday, reaching $53.44. 3,419,472 shares of the stock traded hands, compared to its average volume of 4,739,976. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.59 and a quick ratio of 0.37. General Mills has a 12-month low of $36.42 and a 12-month high of $54.74. The company has a market cap of $32.17 billion, a PE ratio of 16.60, a PEG ratio of 2.27 and a beta of 0.77. The firm has a 50-day moving average price of $52.53.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.96 annualized dividend and a dividend yield of 3.67%. General Mills’s dividend payout ratio is presently 60.87%.

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

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