General Mills (NYSE:GIS) released its earnings results on Wednesday. The company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.04, MarketWatch Earnings reports. General Mills had a net margin of 12.37% and a return on equity of 27.66%. The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $4.98 billion. During the same quarter last year, the firm earned $0.83 earnings per share. The firm’s revenue for the quarter was up 20.7% compared to the same quarter last year.
Shares of NYSE:GIS opened at $61.48 on Friday. The firm has a 50 day moving average of $61.24 and a 200-day moving average of $56.24. General Mills has a 12 month low of $46.59 and a 12 month high of $64.31. The company has a current ratio of 0.68, a quick ratio of 0.41 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $37.27 billion, a PE ratio of 17.27, a PEG ratio of 2.35 and a beta of 0.60.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Thursday, July 9th. General Mills’s dividend payout ratio is currently 54.29%.
A number of equities analysts have recently commented on the stock. ValuEngine downgraded shares of General Mills from a “hold” rating to a “sell” rating in a research note on Monday, June 8th. Stifel Nicolaus reduced their price target on General Mills from $62.00 to $60.00 and set a “hold” rating for the company in a research report on Thursday. Cfra raised shares of General Mills from a “hold” rating to a “buy” rating and lifted their price objective for the company from $58.00 to $60.00 in a research report on Friday, March 6th. Piper Sandler reiterated a “buy” rating and issued a $71.00 target price on shares of General Mills in a research note on Tuesday. Finally, Credit Suisse Group boosted their price target on General Mills from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 18th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $61.00.
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.
Featured Article: What is a balanced fund?
Receive News & Ratings for General Mills Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Mills and related companies with MarketBeat.com's FREE daily email newsletter.