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General Mills (GIS) Increases Despite Market Slip: Here's What You Need to Know
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General Mills (GIS - Free Report) closed the most recent trading day at $64.37, moving +0.67% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 0.12% for the day. Elsewhere, the Dow lost 0.25%, while the tech-heavy Nasdaq lost 0.41%.
Shares of the maker of Cheerios cereal, Yoplait yogurt and other packaged foods witnessed a loss of 1.33% over the previous month, trailing the performance of the Consumer Staples sector with its loss of 1.3% and the S&P 500's gain of 4.83%.
The investment community will be closely monitoring the performance of General Mills in its forthcoming earnings report. The company is scheduled to release its earnings on March 20, 2024. The company's earnings per share (EPS) are projected to be $1.04, reflecting a 7.22% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.95 billion, down 3.35% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.49 per share and revenue of $19.97 billion, which would represent changes of +4.42% and -0.6%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for General Mills. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, General Mills is carrying a Zacks Rank of #3 (Hold).
Investors should also note General Mills's current valuation metrics, including its Forward P/E ratio of 14.25. For comparison, its industry has an average Forward P/E of 17.18, which means General Mills is trading at a discount to the group.
We can additionally observe that GIS currently boasts a PEG ratio of 2.24. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Food - Miscellaneous stocks are, on average, holding a PEG ratio of 2 based on yesterday's closing prices.
The Food - Miscellaneous industry is part of the Consumer Staples sector. At present, this industry carries a Zacks Industry Rank of 148, placing it within the bottom 42% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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General Mills (GIS) Increases Despite Market Slip: Here's What You Need to Know
General Mills (GIS - Free Report) closed the most recent trading day at $64.37, moving +0.67% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 0.12% for the day. Elsewhere, the Dow lost 0.25%, while the tech-heavy Nasdaq lost 0.41%.
Shares of the maker of Cheerios cereal, Yoplait yogurt and other packaged foods witnessed a loss of 1.33% over the previous month, trailing the performance of the Consumer Staples sector with its loss of 1.3% and the S&P 500's gain of 4.83%.
The investment community will be closely monitoring the performance of General Mills in its forthcoming earnings report. The company is scheduled to release its earnings on March 20, 2024. The company's earnings per share (EPS) are projected to be $1.04, reflecting a 7.22% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.95 billion, down 3.35% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.49 per share and revenue of $19.97 billion, which would represent changes of +4.42% and -0.6%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for General Mills. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Currently, General Mills is carrying a Zacks Rank of #3 (Hold).
Investors should also note General Mills's current valuation metrics, including its Forward P/E ratio of 14.25. For comparison, its industry has an average Forward P/E of 17.18, which means General Mills is trading at a discount to the group.
We can additionally observe that GIS currently boasts a PEG ratio of 2.24. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Food - Miscellaneous stocks are, on average, holding a PEG ratio of 2 based on yesterday's closing prices.
The Food - Miscellaneous industry is part of the Consumer Staples sector. At present, this industry carries a Zacks Industry Rank of 148, placing it within the bottom 42% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.