General Mills (NYSE:GIS) Releases 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 brokerages have issued reports on GIS. BMO Capital Markets reaffirmed a sell rating on shares of Bonterra Energy in a report on Thursday, March 21st. Citigroup downgraded shares of Biogen from a buy rating to a neutral rating and decreased their target price for the stock from $470.00 to $230.00 in a research note on Thursday, March 21st. Zacks Investment Research upgraded shares of Icon from a hold rating to a buy rating and set a $157.00 target price for the company in a research note on Thursday, May 30th. Piper Jaffray Companies increased their target price on shares of General Mills from $50.00 to $56.00 and gave the stock a neutral rating in a research note on Wednesday, July 10th. Finally, Guggenheim raised their price objective on shares of General Mills from $58.00 to $65.00 and gave the company a buy rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $52.66.

Shares of GIS traded up $0.23 during mid-day trading on Thursday, reaching $53.28. 2,870,174 shares of the company’s stock were exchanged, compared to its average volume of 4,511,667. General Mills has a 52-week low of $36.42 and a 52-week high of $54.74. The company has a market cap of $31.82 billion, a P/E ratio of 16.55, a price-to-earnings-growth ratio of 2.24 and a beta of 0.77. The stock’s 50-day simple moving average is $52.68. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.37 and a current ratio of 0.59.

General Mills (NYSE:GIS) last released its quarterly earnings results on Wednesday, June 26th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the previous year, the business earned $0.79 earnings per share. The firm’s revenue was up 7.0% compared to the same quarter last year. On average, equities research analysts predict that General Mills will post 3.37 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.96 annualized dividend and a yield of 3.68%. General Mills’s dividend payout ratio is presently 60.87%.

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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