Zacks: Brokerages Anticipate Campbell Soup (CPB) to Announce $0.69 Earnings Per Share

Wall Street analysts forecast that Campbell Soup (NYSE:CPB) will announce $0.69 earnings per share for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Campbell Soup’s earnings, with estimates ranging from $0.65 to $0.71. Campbell Soup reported earnings per share of $0.92 during the same quarter last year, which indicates a negative year-over-year growth rate of 25%. The business is scheduled to issue its next earnings report on Tuesday, November 20th.

According to Zacks, analysts expect that Campbell Soup will report full year earnings of $2.55 per share for the current financial year, with EPS estimates ranging from $2.39 to $3.20. For the next fiscal year, analysts anticipate that the business will post earnings of $2.75 per share, with EPS estimates ranging from $2.56 to $3.40. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Campbell Soup.

Campbell Soup (NYSE:CPB) last announced its quarterly earnings data on Thursday, August 30th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.24 billion. Campbell Soup had a return on equity of 53.88% and a net margin of 3.01%. The company’s revenue for the quarter was up 33.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 earnings per share.

Several equities analysts have commented on CPB shares. Credit Suisse Group set a $32.00 price objective on Campbell Soup and gave the company a “sell” rating in a research report on Friday, July 13th. Gabelli reissued a “buy” rating on shares of Campbell Soup in a research report on Monday, July 16th. JPMorgan Chase & Co. lowered Campbell Soup from a “neutral” rating to an “underweight” rating and set a $48.00 price objective for the company. in a research report on Friday, August 10th. Piper Jaffray Companies set a $35.00 price objective on Campbell Soup and gave the company a “sell” rating in a research report on Tuesday, August 14th. Finally, Wells Fargo & Co set a $42.00 price objective on Campbell Soup and gave the company a “hold” rating in a research report on Monday, August 20th. Twelve investment analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Campbell Soup presently has an average rating of “Sell” and an average price target of $39.87.

In related news, insider Luca Mignini purchased 5,494 shares of Campbell Soup stock in a transaction dated Tuesday, October 2nd. The stock was purchased at an average cost of $36.41 per share, for a total transaction of $200,036.54. Following the completion of the acquisition, the insider now directly owns 112,990 shares of the company’s stock, valued at $4,113,965.90. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 37.20% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of CPB. Third Point LLC bought a new position in shares of Campbell Soup during the second quarter valued at $224,997,000. Morgan Stanley increased its holdings in shares of Campbell Soup by 1,223.0% during the second quarter. Morgan Stanley now owns 5,721,091 shares of the company’s stock valued at $231,933,000 after acquiring an additional 5,288,651 shares in the last quarter. Brandywine Managers LLC increased its holdings in shares of Campbell Soup by 51.2% during the second quarter. Brandywine Managers LLC now owns 5,609,014 shares of the company’s stock valued at $227,389,000 after acquiring an additional 1,900,000 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Campbell Soup during the second quarter valued at $45,483,000. Finally, Glenmede Trust Co. NA increased its holdings in shares of Campbell Soup by 267.7% during the second quarter. Glenmede Trust Co. NA now owns 1,190,827 shares of the company’s stock valued at $48,277,000 after acquiring an additional 867,002 shares in the last quarter. Hedge funds and other institutional investors own 54.86% of the company’s stock.

Campbell Soup stock traded down $1.06 on Friday, hitting $36.88. 3,522,597 shares of the stock traded hands, compared to its average volume of 3,574,079. The company has a current ratio of 0.64, a quick ratio of 0.31 and a debt-to-equity ratio of 5.83. The firm has a market capitalization of $11.09 billion, a P/E ratio of 12.85, a P/E/G ratio of 2.59 and a beta of 0.13. Campbell Soup has a 1 year low of $32.63 and a 1 year high of $51.07.

The business also recently declared a quarterly dividend, which was paid on Monday, October 29th. Stockholders of record on Friday, October 12th were issued a dividend of $0.35 per share. The ex-dividend date was Thursday, October 11th. This represents a $1.40 annualized dividend and a dividend yield of 3.80%. Campbell Soup’s payout ratio is presently 48.78%.

About Campbell Soup

Campbell Soup Company, together with its subsidiaries, manufactures and markets branded food and beverage products. It operates through three segments: Americas Simple Meals and Beverages, Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment engages in the retail and food service of Campbell's condensed and ready-to-serve soups; Swanson broth and stocks; Prego pasta sauces; Pace Mexican sauces; Campbell's gravies, pastas, beans, and dinner sauces; Swanson canned poultry products; Plum food and snack products; V8 juices and beverages; Campbell's tomato juices; and Pacific broth, soups, non-dairy beverages, and other simple meals.

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