General Mills to post earnings March 23

What's Happening With GIS View more about GIS >

Packaged foods maker General Mills (GIS) will report its fiscal third-quarter results before the market open on March 23. Analysts forecast earnings of $0.61 per share, down from $0.70 during the same period last year. The stock is up 7.5% on the year.

Technical Analysis

GIS was recently trading at $61.96, just $0.11 below its 12-month high and $14.53 above its 12-month low. Technical indicators for GIS are bullish and the stock is in a strong upward trend. The stock has recent support above $60.05 and is trading above recent resistance. Of the 13 analysts who cover the stock, two rate it a “strong buy”, one rates it a “buy”, eight rate it a “hold”, and two rate it a “sell”. The stock receives S&P Capital IQ’s 3 STARS “Hold” ranking.

Analysts' Thoughts

General Mills has been trending sharply higher, and with the stock trading just shy of its 52-week high, the valuation is a slight concern. The stock has a P/E of 25.5, which is not too high, but earnings are expected to remain flat this year, and rise by 7.0% next year. Even with sluggish earnings growth, I remain upbeat on the stock. I like the consumer staples group, and believe the overall economic landscape remains solid enough to warrant holding some consumer goods makers. The company did miss its earnings number last quarter, which led to a little selling pressure, but it quickly recovered and trended sharply higher. I see long-term upside for the stock, and would view any post-earnings weakness as an excellent opportunity to get into the stock at a discount.

GIS
About General Mills Inc.

General Mills is a leading global packaged food company that produces snacks, cereal, convenient meals, yogurt, dough, baking mixes and ingredients, pet food, and superpremium ice cream. Its largest brands are Nature Valley, Cheerios, Old El Paso, Yoplait, Pillsbury, Betty Crocker, Blue Buffalo, and Haagen-Dazs. In 2019, 74% of its revenue was derived from the United States, although the company also operates in Canada, Europe, Australia, Asia, and Latin America. While most of General Mills' products are sold through retail stores to consumers, the company also sells products into the food-service channel and commercial baking industry.

  • Last Price:
    $55.03
  • Previous Close:
    $54.54
  • Change:
    $0.49 (0.90%)
  • Open:
    $54.47
  • Volume:
    4,868,928
  • Average Volume (100 Day):
    3,919,327
  • Market Capitalization:
    $33.2 B
  • Day's Range:
    $54.39 - $55.62
  • Dividend Yield:
    3.59%
  • 52-week Range:
    $56 - $36.42
  • P-E:
    18.80
  • EPS:
    $2.90
  • Earnings Date:
    9/18/19
  • Ex Dividend Date:
    7/9/19
  • Sector:
    Consumer Defensive
  • Industry:
    Packaged Foods
  • Analyst Average Recommendation:
    Moderate Buy

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