NEW YORK (TheStreet) -- Shares of General Mills Inc. (GIS) are lower by 1.75% to $52.25 in pre-market trading on Wednesday, after the company reported a drop in fiscal 2015 first quarter net income to $345.2 million, or 55 cents per diluted share, compared to $459.3 million, or 70 cents per diluted share for the year ago period.
The company, which manufacturers and markets branded consumer foods such as Cheerios, Green Giant, and Pillsbury, said adjusted earnings per share were down 13% to 61 cents for the most recent quarter, from 70 cents for the fiscal 2014 first quarter.
Analysts polled by Thomson Reuters expected General Mills to post earnings of 69 cents per share.STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
The company's net sales declined 2% to $4.27 billion for the latest quarter, analysts were expecting $4.38 billion for the quarter.
Separately, TheStreet Ratings team rates GENERAL MILLS INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate GENERAL MILLS INC (GIS) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, notable return on equity, expanding profit margins, good cash flow from operations and increase in net income. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."