General Mills (GIS) PT Lowered to $56 at Susquehanna Following 1Q Release
Tweet
Share
E-mail
Get Alerts GIS Hot Sheet
Price: $37.57 -0.53%
Rating Summary:
6 Buy, 20 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 2
Rating Summary:
6 Buy, 20 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 2
Join SI Premium – FREE
Susquehanna lowered its price target on General Mills (NYSE: GIS) to $56.00 (from $58.00) while maintaining a Neutral rating following the company's 1Q earnings report. GIS kept FY18 guidance despite missing EBIT consensus by 8c. However, the bulk of the miss was gross margin related due to the timing of trade expenses.
Reported sales declined 4% to $3.77Bn and LFL sales down 4%, reflecting NA retails sales decline and Asia & LatAm decline. Susquehanna's FY18 EPS estimates come down by 4c, as despite 6c 1Q18 miss, analyst PabloZuanic now factors a slightly lower share count.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Freedom Broker Starts Unity Bancorp (UNTY) at Hold
- Berenberg Starts Brooks Macdonald Group PLC (BRK:LN) at Buy
- Raymond James Upgrades Aecon Group (ARE:CN) (AEGXF) to Outperform
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
Susquehanna International Group of Companies, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
