General Mills, Inc. (GIS) Shares Fall As Q1 Results Miss Expectations

General Mills, Inc. (GIS) Shares Fall As Q1 Results Miss Expectations

Three analysts have provided estimates for General Mills' earnings. The analysts estimated sales for the higher end at 3921 million and lower end at 3755 million.

General Mills has vowed to continue prioritising its topline performance after recording decline in both net sales and operating profit for the first quarter of its 2017/18 fiscal year.

Many analysts have provided their estimated foresights on General Mills, Inc. In the most recent quarter, institutional ownership decreased by a net of 1.77 million shares, or 0.43%. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share. They expect $0.38 EPS, 0.00% or $0.00 from last year's $0.38 per share.

Revenue dropped 3.5 percent to $3.77 billion, also short of analyst projections. General Mills had a net margin of 10.61% and a return on equity of 38.97%. The firm owned 36,059 shares of the company's stock after selling 10,008 shares during the quarter. While in the same Quarter Previous year, the Actual EPS was $0.78.

Shares of General Mills (NYSE GIS) opened at 56.43 on Friday. General Mills has an average rating of "Hold" and an average price target of $59.11. They now have a United States dollars 58 price target on the stock. Analyst's mean target price for GIS is $56.72 while analysts mean recommendation is 3.10. Finally, Vetr raised shares of General Mills from a "hold" rating to a "buy" rating and set a $57.82 price target for the company in a report on Tuesday, June 27th. The stock of VF Corp (NYSE:VFC) has "Neutral" rating given on Thursday, February 2 by Goldman Sachs.

According to the the latest analyst ratings which have been released, 1 brokers have issued a rating of "buy", 1 brokers "outperform", 13 brokers "hold", 4 brokers "underperform" and 0 brokers "sell". The rating was maintained by BMO Capital Markets with "Hold" on Wednesday, September 6. It is positive, as 70 investors sold General Mills, Inc. shares while 405 reduced holdings. The stock of General Mills, Inc. Hanson McClain Inc. now owns 2,346 shares of the company's stock valued at $138,000 after purchasing an additional 35 shares during the last quarter.

Net sales in General Mills' U.S. cereal unit fell 7 percent in the first quarter ended August 27 as demand remained weak for Fiber One cereal. Moreover, Alecta Pensionsforsakring Omsesidigt has 3.03% invested in the company for 6.14 million shares. Somerset Trust Co increased its stake in General Mills by 2.8% in the 2nd quarter. Bfsg LLC bought a new stake in General Mills during the 1st quarter worth $2,843,000. The stock of General Mills, Inc.

Analysts recommendation for General Mills, Inc. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of USA and worldwide trademark and copyright laws. (NYSE:GIS). Cibc Asset invested 0.14% of its portfolio in General Mills, Inc. Hartford Mgmt invested 0.01% of its portfolio in General Mills, Inc. Overall, the share price is down -10.34% so far this year. General Mills has a 52-week low of $52.76 and a 52-week high of $65.57.

Beta is also an important valuation ratio for analyzing the stock of the company, GIS has its industry and Sector's beta remains at 0.86 and 0.78 respectively. Cereal sells better in other countries than in the USA, although the recent hurricanes may have helped General Mills in that area. North American retail sales declined 5% to $2.44 billion, compared with the FactSet consensus of $2.45 billion, while convenience stores and foodservice sales were flat at $447 million versus expectations of $447.6 million.

More than half of North America segment's net sales decline in the quarter was due to a slump in USA yogurt sales.