General Mills, Inc. (NYSE:GIS) shares, rose in value, with the stock price up by 2.01% to the previous day’s close as strong demand from buyers drove the stock to $70.38.
Actively observing the price movement in the last trading, the stock closed the session at $68.99. The value of beta (5-year monthly) was 0.14 whereas the PE ratio was 16.15 over 12-month period. Referring to stock’s 52-week performance, its high was $90.89, and the low was $60.33. On the whole, GIS has fluctuated by 9.17% over the past month.
With the market capitalization of General Mills, Inc. currently standing at about $39.73 billion, investors are eagerly awaiting this quarter’s results, scheduled for Jun 26, 2024 – Jul 01, 2024. The company’s Forward Dividend Ratio is 2.31, with its dividend yield at 3.28%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $1, which is expected to increase to $1.21 for fiscal year $4.51 and then to about $4.68 by fiscal year 2025. Data indicates that the EPS growth is expected to be 4.90% in 2025, while the next year’s EPS growth is forecast to be 3.80%.
Analysts have estimated the company’s revenue for the quarter at $4.88 billion, with a low estimate of $4.84 billion and a high estimate of $4.96 billion. According to the average forecast, sales growth in current quarter could jump down -2.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $20.02 billion, representing a decrease of -0.40% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that GIS’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 2.16, with the price of GIS currently trading nearly 3.89% and 7.19% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 64.63, while the 7-day volatility ratio is showing 1.54% which for the 30-day chart, stands at 1.99%. Furthermore, General Mills, Inc. (GIS)’s beta value is 0.14, and its average true range (ATR) is 1.31.
A comparison of General Mills, Inc. (GIS) with its peers suggests the former has fared considerably weaker in the market. GIS showed an intraday change of 2.01% in last session, and over the past year, it shrunk by -18.09%%.
Data on historical trading for General Mills, Inc. (NYSE:GIS) indicates that the trading volumes over the past 10 days have averaged 5.16 million and over the past 3 months, they’ve averaged 4.29 million. According to company’s latest data on outstanding shares, there are 586.60 million shares outstanding.
Nearly 0.32% of General Mills, Inc.’s shares belong to company insiders and institutional investors own 78.47% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 13.77 million shares as on Mar 15, 2024, resulting in a short ratio of 3.42. According to the data, the short interest in General Mills, Inc. (GIS) stood at 2.44% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 13.16 million. The stock has risen by 8.04% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the GIS stock heading into the next quarter.
