General Mills (NYSE:GIS) Releases Earnings Results, Beats Estimates By $0.01 EPS

by · The Markets Daily

General Mills (NYSE:GIS – Get Free Report) posted its earnings results on Wednesday. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01, Briefing.com reports. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $4.80 billion. General Mills had a return on equity of 26.56% and a net margin of 12.57%. General Mills’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.09 earnings per share.

General Mills Stock Down 0.4 %

Shares of General Mills stock traded down $0.33 during trading hours on Friday, reaching $74.57. 1,236,071 shares of the company were exchanged, compared to its average volume of 3,950,620. The firm has a market cap of $41.62 billion, a PE ratio of 17.33, a PEG ratio of 3.86 and a beta of 0.10. The stock’s fifty day moving average is $69.69 and its 200 day moving average is $68.44. General Mills has a 1 year low of $60.33 and a 1 year high of $75.90. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.38 and a current ratio of 0.65.

General Mills Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend was Wednesday, July 10th. This is a boost from General Mills’s previous quarterly dividend of $0.59. General Mills’s dividend payout ratio is currently 55.68%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GIS shares. Argus restated a “hold” rating on shares of General Mills in a research note on Tuesday, July 16th. Evercore ISI cut their price objective on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a report on Friday, June 28th. Barclays boosted their target price on shares of General Mills from $67.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Friday. Piper Sandler lifted their price objective on shares of General Mills from $74.00 to $84.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Wells Fargo & Company lifted their price target on General Mills from $67.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, September 13th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $72.73.

Get Our Latest Analysis on General Mills

About General Mills

(Get Free Report)

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.

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