General Mills (GIS) Advances While Market Declines: Some Information for Investors
General Mills (GIS) closed the most recent trading day at $65.66, moving +0.61% from the previous trading session. The stock's change was more than the S&P 500's daily loss of 0.11%. Meanwhile, the Dow gained 0.12%, and the Nasdaq, a tech-heavy index, lost 0.41%.
Heading into today, shares of the maker of Cheerios cereal, Yoplait yogurt and other packaged foods had gained 4.68% over the past month, outpacing the Consumer Staples sector's gain of 0.25% and the S&P 500's gain of 2.7% in that time.
Investors will be eagerly watching for the performance of General Mills in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on March 20, 2024. In that report, analysts expect General Mills to post earnings of $1.04 per share. This would mark year-over-year growth of 7.22%. In the meantime, our current consensus estimate forecasts the revenue to be $4.95 billion, indicating a 3.35% decline compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.49 per share and revenue of $19.97 billion. These totals would mark changes of +4.42% and -0.6%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for General Mills. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, General Mills possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, General Mills is holding a Forward P/E ratio of 14.55. This valuation marks a discount compared to its industry's average Forward P/E of 17.03.
We can additionally observe that GIS currently boasts a PEG ratio of 2.3. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Food - Miscellaneous was holding an average PEG ratio of 2.02 at yesterday's closing price.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 149, putting it in the bottom 41% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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General Mills, Inc. (GIS) : Free Stock Analysis Report
