General Mills Reaches 52-Week High - Analyst Blog
26 Febbraio 2013 - 6:35PM
Zacks
General Mills Inc. (GIS) recently reached a
52-week high of $46.01 on Feb 25, 2013, on the back of solid second
quarter 2013 results announced in December. Interestingly, the food
giant announced an impressive guidance for fiscal 2014 last
week.
Growth Drivers
General Mills reported second quarter 2013 results on Dec 19, 2012
with its top and bottom lines beating Zacks Consensus
Estimates.
General Mills’ second quarter fiscal 2013 adjusted earnings rose
13% year on year to 86 cents per share. The quarterly earnings
comprehensively beat the Zacks Consensus Estimate of 79 cents. The
upside was driven by recent acquisitions, better-than-expected
sales and profits in the U.S. retail business and lower interest
expenses and taxes.
Total revenue of the global consumer food company increased 6% year
over year to $4.88 billion. Revenues slivered past the Zacks
Consensus Estimate of $4.87 billion. Revenues mostly benefited from
recent acquisitions, mainly the purchases of Brazilian food maker
Yoki Alimentos (in August this year) and Yoplait Canada. Sales were
up 2% excluding the impact of the acquisitions.
In addition, General Mills recently reaffirmed its previously
provided fiscal 2013 guidance at the CAGNY investor conference held
in New York. The food giant expects growth in 2014 to be in line
with its long-term goals.
In fiscal 2014, General Mills intends to record strong earnings
growth and increase cash returns to shareholders. Growth is
expected to be in line with its long-term targets; high
single-digit growth in earnings, low-single digit growth in net
sales, and mid-single digit growth in segment operating
profit.
General Mills carries a Zacks Rank #3 (Hold).
Some stocks going strong in the food industry include
ConAgra Foods, Inc (CAG), Flower Foods
Inc. (FLO) and J&J Snack Foods Corp
(JJSF), all carrying a Zacks Rank #1 (Strong Buy).
CONAGRA FOODS (CAG): Free Stock Analysis Report
FLOWERS FOODS (FLO): Free Stock Analysis Report
GENL MILLS (GIS): Free Stock Analysis Report
J&J SNACK FOODS (JJSF): Free Stock Analysis Report
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