General Mills, Inc. Fourth Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component General Mills, Inc. (NYSE:GIS) will unveil its latest earnings on Wednesday, June 29, 2011. General Mills, Inc. is the manufacturer and marketer of branded consumer foods sold through retail stores. It also supplies branded and unbranded food products to the food service and commercial baking industries.

General Mills, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average analyst is estimating net income of 52 cents per share, a rise of 26.8% from the same quarter a year ago. Estimates range from profit of 49 cents per share to net income of 53 cents per share. The consensus estimate is the same as three months ago. For the year, analysts are projecting profit of $2.48 per share, a rise of 7.8% from last year.

Past Earnings Performance: The company fell in line with estimates last quarter after beating the forecasts in the prior two. In the third quarter, the company reported net income of 56 cents per share versus a mean estimate of profit of 56 cents per share. In the second quarter, the company beat estimates by 2 cents.

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Wall St. Revenue Expectations: On average, analysts predict $3.68 billion in revenue this quarter, a rise of 3.1% from the year ago quarter. Analysts are forecasting total revenue of $14.94 billion for the year, from last year’s revenue of $14.8 billion.

Analyst Ratings: Analysts are bullish on this stock with 15 analysts rating it as a buy and none rating it as a sell. While the average rating for the stock remains a moderate buy, the rating is on steadier footing than three months ago.

Key Stats:

The company has now seen net income rise in three-straight quarters. In the third quarter, net income rose 17.9% while it rose 8.6% in the second quarter and 12.2% in the first quarter.

Revenue rose last quarter after seeing a drop the quarter before. Revenue rose 0.5% to $3.65 billion in the third quarter from the year earlier. In the second quarter, revenue fell 0.3%.

Competitors to Watch: ConAgra Foods, Inc. (NYSE:CAG), General Mills, Inc. (NYSE:GIS), TreeHouse Foods Inc. (NYSE:THS), Lancaster Colony Corp. (NASDAQ:LANC), Kraft Foods Inc. (NYSE:KFT), J&J Snack Foods Corp. (NASDAQ:JJSF), Seneca Foods Corporation (NASDAQ:SENEB), The Hain Celestial Group, Inc. (NASDAQ:HAIN), H.J. Heinz Company (NYSE:HNZ), The J.M. Smucker Company (NYSE:SJM), and Ralcorp Holdings, Inc. (NYSE:RAH).

Stock Price Performance: Over the past three months, the stock price has risen $1.64 (4.5%) from $36.29 on March 28, 2011 to $37.93 on June 22, 2011. The stock price saw one of its best stretches over the last year between December 8, 2010 and December 14, 2010 when shares rose for five-straight days, rising 2.8% (+99 cents) over that span. It saw one of its worst periods between January 21, 2011 and February 1, 2011 when shares fell for eight-straight days, falling 5.2% (-$1.87) over that span. Shares are up $2.88 (+8.2%) year to date.

(Source: Xignite Financials)

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