What to Expect When Campbell Soup Reports Wednesday Morning
Campbell Soup is scheduled to release its most recent quarterly results before the markets open on Friday.
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
Campbell Soup Co. (NYSE: CPB | CPB Price Prediction) is scheduled to release its most recent quarterly results before the markets open on Friday. The consensus estimates are calling for $0.71 in earnings per share (EPS) and $2.19 billion in revenue. The fiscal first quarter of last year reportedly had $0.79 in EPS and $2.69 billion in revenue.
In its fiscal fourth quarter, revenues dropped about 9% year over year to $2.02 billion. In terms of its segments, Campbell Soup reported that Meals & Beverages organic net sales increased 1% year over year to $813 million, while Snacks organic net sales increased 4% to $967 million.
The strong fourth-quarter results culminated a year of steady, positive performance for Campbell. The firm delivered consistent results and met or exceeded expectations for four consecutive quarters.
According to management, the company made significant progress against its 2019 strategic initiatives, namely:
- Improving in-market performance
- Overdelivering cost savings programs
- Strengthening relationships with key retailers
- Focusing the portfolio on two core businesses in North America
- Completing the divestiture of Campbell Fresh and announcing the divestiture of Campbell International.
[nativounit]
Excluding Thursday’s move, Campbell Soup shares had outperformed the broad markets, with its stock up about 43% year to date. In the past 52 weeks, the stock was only up about 19%.
A few analysts weighed in on Campbell Soup ahead of results:
- RBC has an Outperform rating with a $55 price target.
- Citigroup has a Buy rating with a $50 target price.
- Piper Jaffray rates it as Neutral with a $45 price target.
- JPMorgan has a $48 price target.
- Merrill Lynch rates it as Underperform with a $40 target.
- Wells Fargo has a Hold rating with a $45 target price.
- Credit Suisse has an Underperform rating and a $36 price target.
Shares of Campbell Soup traded at $47.26 on Tuesda, in a 52-week range of $32.03 to $48.39. The consensus price target is $42.77.
[recirclink id=595816]
[wallst_email_signup]
Contact [email protected] for any questions or corrections.
Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
