NEW YORK (TheStreet) -- Shares of General Mills (GIS - Get Report) were declining in mid-afternoon trading on Wednesday as the Minneapolis-based food manufacturer said it expects to post fiscal 2017 first quarter earnings that are below the 69 cents per share it earned in the 2016 first quarter.
Wall Street is looking for fiscal 2017 first quarter earnings of 77 cents per share.
General Mills maintained its 2017 adjusted earnings growth of 6% to 8% and said it expects organic net sales to be flat or down 2% for the year.
The company forecasts fiscal 2017 first quarter organic net sales growth will be below its full-year guidance.
General Mills is slated to report fiscal 2017 first quarter results on Sept. 21.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
The team rates General Mills as a Buy with a ratings score of A. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that it rates. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, notable return on equity, expanding profit margins and compelling growth in net income. The team feels its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.
You can view the full analysis from the report here: GISGIS data by YCharts