Earnings Previews: Campbell Soup, Express, Stitch Fix, W&T Offshore, Zim Integrated Shipping

The number of companies reporting earnings this week begins the end-of-season drop before the next one begins in mid-April. That does not mean that nothing is happening. There are a couple of biggies coming (Campbell Soup and Oracle) along with some new favorites (CrowdStrike and Rivian).

The broad markets opened somewhat lower Monday morning, but well off their premarket lows. Crude oil, which traded above $125 a barrel very early in the morning, was last seen at around $118. Reports that the United States and its sanctions partners are considering a ban on importing Russian oil drove crude prices higher and shares of oil producers much higher. Both have moderated following reports of a Thursday meeting between Ukrainian and Russian foreign ministers in Turkey.

We already have previewed four firms reporting quarterly earnings after markets close Monday or before they open on Tuesday: Dick’s Sporting Goods, Lithium Americas, 908 Devices and Petco.

Here is a look at five companies set to report results after markets close Tuesday or before they open on Wednesday.

Campbell Soup

Over the past 12 months, shares of Campbell Soup Co. (NYSE: CPB) are up about 2.7%, while the consumer staples sector has gained about 22%. The company is not a growth stock, but it does pay a robust dividend, and the dividend is fully paid out of operating income. Even net income is more than double dividend payments. Campbell Soup reports results before markets open Wednesday.

Sentiment on the stock is mixed, with 12 of 19 brokerages giving the stock a Hold rating. Just three have a Buy or Strong Buy rating, and the rest rate the stock a Strong Sell. At a recent price of around $45.00 a share, the stock trades right at its median price target. At the high price target of $51, the upside potential is about 13.3%.

For the company’s second quarter of fiscal 2022, the consensus revenue estimate is $2.25 billion. That would be up by less than 1% sequentially and down about 1.3% year over year. Adjusted earnings per share (EPS) are forecast at $0.68, up 23.4% sequentially and down 20% year over year. For the full fiscal year, current estimates call for EPS of $2.78, down 6.6%, on sales of $8.42 billion, down by less than 1%.

Campbell Soup stock trades at 16.1 times expected 2022 EPS, 15.5 times estimated 2023 earnings of $2.90 and 14.7 times estimated 2024 earnings of $3.06 per share.

The stock’s 52-week range is $39.76 to $52.23. The company pays an annual dividend of $1.48 (yield of 3.30%). Total shareholder return for the past year was negative 0.44%.

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