General Mills (NYSE:GIS) Issues FY 2020 Earnings Guidance

General Mills (NYSE:GIS) updated its FY 2020 earnings guidance on Wednesday. The company provided EPS guidance of $3.32-3.38 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.31. The company issued revenue guidance of $17.203-17.54 billion, compared to the consensus revenue estimate of $17.28 billion.

Several analysts have recently weighed in on the stock. Morgan Stanley lifted 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. UBS Group lifted their price target on shares of General Mills from $48.00 to $52.00 and gave the company a neutral rating in a research note on Thursday. Evercore ISI assumed coverage on shares of General Mills in a research note on Tuesday, June 11th. They set an in-line rating and a $56.00 price target for the company. Zacks Investment Research reaffirmed a strong-buy rating on shares of General Mills in a research note on Thursday, May 30th. Finally, Goldman Sachs Group downgraded shares of General Mills from a neutral rating to a sell rating and set a $41.00 price target for the company. in a research note on Tuesday, May 28th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of Hold and an average price target of $51.10.

Shares of NYSE:GIS opened at $52.22 on Friday. The company has a market capitalization of $30.72 billion, a P/E ratio of 16.22, a price-to-earnings-growth ratio of 2.18 and a beta of 0.75. General Mills has a 52 week low of $36.42 and a 52 week high of $54.39. The company has a quick ratio of 0.35, a current ratio of 0.59 and a debt-to-equity ratio of 1.58. The business has a 50 day simple moving average of $52.08.

General Mills (NYSE:GIS) last issued its quarterly earnings data on Wednesday, June 26th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $4.16 billion during the quarter, compared to the consensus estimate of $4.24 billion. General Mills had a net margin of 10.39% and a return on equity of 27.67%. General Mills’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.79 earnings per share. As a group, equities analysts anticipate that General Mills will post 3.36 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Tuesday, July 9th. General Mills’s dividend payout ratio (DPR) is 60.87%.

In other General Mills news, Director R Kerry Clark sold 14,836 shares of General Mills stock in a transaction on Monday, April 1st. The shares were sold at an average price of $51.57, for a total value 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John R. Church sold 4,719 shares of General Mills stock in a transaction on Wednesday, April 3rd. The stock was 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. Insiders own 0.59% of the company’s stock.

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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