Based in Camden, New Jersey, Campbell Soup Company (CPB) is a leading food and beverage company specializing in soups, snacks, and simple meals. Founded in 1869, Campbell has a market cap of $14.03 billion and is renowned for its iconic brands and commitment to quality. The company is set to announce its fiscal Q4 earnings results on Thursday, Aug. 29.
Ahead of the event, analysts expect CPB to report a profit of $0.62 per share, up 24% from $0.50 per share in the year-ago quarter. The company has consistently surpassed and matched Wall Street’s EPS estimates in its last four quarterly reports.
Campbell Soup's adjusted earnings of $0.75 per share for the last quarter surpassed the consensus estimate by 7.1%. The company's Q3 performance was driven by the acquisition of Sovos Brands, improved supply-chain, and cost savings initiatives.
For fiscal 2024, analysts expect CPB to report EPS of $3.08, up 2.7% from $3 in fiscal 2023.
CPB stock is up 8.5% on a YTD basis, underperforming the broader S&P 500 Index's ($SPX) 14.9% gains and the Consumer Staples Select Sector SPDR Fund’s (XLP) 7.7% returns over the same time frame.
CPB reported Q3 earnings on Jun. 5. Revenue for the period was $2.37 billion, exceeding analysts' forecasts of $2.34 million. Following the release of these results, the stock declined 1.3% in the next trading session.
The consensus opinion on CPB stock is cautious, with an overall “Hold” rating. Out of 15 analysts covering the stock, three advise a “Strong Buy” rating, nine suggest a “Hold,” one advises a “Moderate Sell” rating, and two recommend a “Strong Sell.”
This configuration is more bullish than three months ago when the stock had two “Strong Buy” ratings. CPB's average analyst price target is $47.13, indicating a marginal potential upside from the current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
