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General Mills (GIS) Releases FY18 Earnings Guidance

22 March 2018

General Mills is by far the worst-performing stock on the S&P 500 index. Gabelli also issued estimates for General Mills' FY2019 earnings at $3.40 EPS, FY2021 earnings at $3.90 EPS and FY2022 earnings at $4.15 EPS.

General Mills (NYSE:GIS) manufacturer of branded consumer foods reported net income for the third quarter of $ 941.40 million or $ 1.62 per share, compared to income of $ 357.80 million or $ 0.61 per share for the year-ago quarter. Adjusted per-share earnings came to 79 cents, a penny ahead of the FactSet consensus of 78 cents. The return on assets stands at 7.3%, Return on Equity now is 38.8% and the Return on Investment value is 13.8%. Its revenue totaled $4.08 billion up 8.32% from the previous quarter. During the same quarter in the prior year, the business posted $0.85 EPS.

The information furnished in Item 2.02 of this Current Report on Form 8-K and Exhibit 99 attached hereto shall not be deemed to be filed for the purposes of Section18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liabilities of that Section or Sections 11 and 12 (a)(2) of the Securities Act of 1933, as amended, and shall not be deemed to be incorporated by reference into any registration statement or other document filed to the Securities Act of 1933, as amended.

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General Mills today (21 March) cut its forecast for a key profit metric, sending shares in the USA food group tumbling in pre-market trading in NY. Gabelli downgraded General Mills from a buy rating to a hold rating in a research report on Tuesday, March 6th. Susquehanna Bancshares set a $57.00 price objective on General Mills and gave the company a hold rating in a research note on Wednesday, December 13th. Piper Jaffray Companies upgraded General Mills from an "underweight" rating to a "neutral" rating and set a $63.00 target price for the company in a research report on Wednesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. The company now has an average rating of Hold and a consensus target price of $57.21.

GIS stock opened at $49.93 on Tuesday. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.81 and a quick ratio of 0.53. The stock recovered 1.2% since its low point and has performed -27.16% year-to-date. The company has a market cap of $28,571.69, a PE ratio of 16.64, a P/E/G ratio of 2.08 and a beta of 0.72.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.31%. General Mills's dividend payout ratio (DPR) is presently 71.79%.

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General Mills announced that its board has initiated a share repurchase program on Friday, February 23rd that authorizes the company to repurchase shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

The company's stock is now moving with a -ve distance from the 200 day SMA of approximately -9.22%, and has a solid year to date (YTD) performance of -15.79% which means that the stock is constantly adding to its value from the previous fiscal year end price. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Truewealth LLC bought a new stake in General Mills during the fourth quarter worth $119,000.

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Last month at the Consumer Analyst Group of NY conference in Florida, Harmening said the cereal maker's efforts to reshape the company's portfolio will accelerate going forward, with acquisitions expected to play a meaningful role.

General Mills (GIS) Releases FY18 Earnings Guidance