General Mills Stock on Third Day of Gains ahead of Earnings Report
General Mills (GIS) is getting ready to release their quarterly earnings report on Wednesday the 18th, just before the market opens for the day.
So far, their stock is looking up in anticipation of the report. For three days, the General Mills stock price has been climbing, with a 1.25% gain on Monday and another 0.20% gain for Tuesday so far. Now at $74.78, the GIS stock price is the highest it has been all year, except for a brief bull run to $75 earlier this month.
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That all looks very promising for the stock coming up on its quarterly report. Though the stock market has tumbled through the month of September, a few notable stocks have done very well and been able to showcase their resiliency, even as anticipation for interest rate cuts drives down much of the market.
What Industry Insiders Expect from General Mills
The company’s stock may be looking up, but analysts actually expect the first quarterly report for fiscal year 2025 to be one of decline. According to the Zacks Consensus Estimate, the company should report revenue of $4.78 billion. That would be a decrease from last year for the first quarter, dropping by about 2.5%.
A share price decline of 3.7% or $1.05 per share is expected as well. General Mills may surprise, though, as they have in the past, throwing off expectations by as much as 6% previously.
Even if General Mills does show some decline for the first quarter when they report revenue and earnings tomorrow, their stock may still hold strong. They have done so well this year that the market may react with little concern to a sales decline compared to last year because their overall sales are strong for the current economy.
Our prediction for the GIS stock price is that it will take a dip after the report and then recover quickly afterwards, continuing strongly for the remainder of 2024.
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