In the latest trading session, General Mills (GIS - Free Report) closed at $79.79, marking a +1.62% move from the previous day. This move outpaced the S&P 500's daily loss of 0.15%. Elsewhere, the Dow lost 0.28%, while the tech-heavy Nasdaq added 3.16%.
Coming into today, shares of the maker of Cheerios cereal, Yoplait yogurt and other packaged foods had gained 3.19% in the past month. In that same time, the Consumer Staples sector lost 1.77%, while the S&P 500 lost 5.39%.
Investors will be hoping for strength from General Mills as it approaches its next earnings release, which is expected to be March 23, 2023. On that day, General Mills is projected to report earnings of $0.90 per share, which would represent year-over-year growth of 7.14%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.9 billion, up 7.95% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.18 per share and revenue of $19.94 billion, which would represent changes of +6.09% and +5%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for General Mills. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.27% higher. General Mills is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, General Mills currently has a Forward P/E ratio of 18.8. This valuation marks a premium compared to its industry's average Forward P/E of 17.78.
We can also see that GIS currently has a PEG ratio of 2.51. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. GIS's industry had an average PEG ratio of 2.57 as of yesterday's close.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 106, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow GIS in the coming trading sessions, be sure to utilize Zacks.com.
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In the latest trading session, General Mills (GIS - Free Report) closed at $79.79, marking a +1.62% move from the previous day. This move outpaced the S&P 500's daily loss of 0.15%. Elsewhere, the Dow lost 0.28%, while the tech-heavy Nasdaq added 3.16%.
Coming into today, shares of the maker of Cheerios cereal, Yoplait yogurt and other packaged foods had gained 3.19% in the past month. In that same time, the Consumer Staples sector lost 1.77%, while the S&P 500 lost 5.39%.
Investors will be hoping for strength from General Mills as it approaches its next earnings release, which is expected to be March 23, 2023. On that day, General Mills is projected to report earnings of $0.90 per share, which would represent year-over-year growth of 7.14%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.9 billion, up 7.95% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.18 per share and revenue of $19.94 billion, which would represent changes of +6.09% and +5%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for General Mills. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.27% higher. General Mills is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, General Mills currently has a Forward P/E ratio of 18.8. This valuation marks a premium compared to its industry's average Forward P/E of 17.78.
We can also see that GIS currently has a PEG ratio of 2.51. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. GIS's industry had an average PEG ratio of 2.57 as of yesterday's close.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 106, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow GIS in the coming trading sessions, be sure to utilize Zacks.com.
Free Report Reveals How You Could Profit from the Growing Electric Vehicle Industry
Globally, electric car sales continue their remarkable growth even after breaking records in 2021. High gas prices have fueled his demand, but so has evolving EV comfort, features and technology. So, the fervor for EVs will be around long after gas prices normalize. Not only are manufacturers seeing record-high profits, but producers of EV-related technology are raking in the dough as well. Do you know how to cash in? If not, we have the perfect report for you – and it’s FREE! Today, don't miss your chance to download Zacks' top 5 stocks for the electric vehicle revolution at no cost and with no obligation.
>>Send me my free report on the top 5 EV stocks<<
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