Campbell Soup Company (CPB) Issues FY17 Earnings Guidance
Campbell Soup Company (NYSE:CPB) issued an update on its FY17 earnings guidance on Friday morning. The company provided earnings per share guidance of $3.00-3.09 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.09. The company issued revenue guidance of +0-1% to ~$7.96-8.04 billion, compared to the consensus revenue estimate of $8.01 billion.
Shares of Campbell Soup Company (NYSE:CPB) traded down 6.46% during midday trading on Friday, reaching $58.51. The company had a trading volume of 3,324,543 shares. The company has a market capitalization of $17.97 billion, a P/E ratio of 27.50 and a beta of 0.46. The firm’s 50 day moving average price is $62.19 and its 200-day moving average price is $58.24. Campbell Soup Company has a 12 month low of $52.59 and a 12 month high of $67.89.
Campbell Soup Company (NYSE:CPB) last posted its earnings results on Friday, February 17th. The company reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.03. The business had revenue of $2.17 billion for the quarter, compared to analysts’ expectations of $2.22 billion. Campbell Soup Company had a net margin of 8.30% and a return on equity of 58.62%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 earnings per share. Analysts anticipate that Campbell Soup Company will post $3.08 earnings per share for the current fiscal year.
A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of Campbell Soup Company from a buy rating to a hold rating in a research note on Tuesday. Deutsche Bank AG assumed coverage on shares of Campbell Soup Company in a research note on Wednesday. They issued a hold rating and a $65.00 target price on the stock. Royal Bank Of Canada upped their target price on shares of Campbell Soup Company from $60.00 to $63.00 and gave the company a sector perform rating in a research note on Wednesday. RBC Capital Markets reissued a sector perform rating and issued a $63.00 target price (up previously from $60.00) on shares of Campbell Soup Company in a research note on Wednesday. Finally, Stifel Nicolaus upped their target price on shares of Campbell Soup Company from $56.00 to $62.00 and gave the company a hold rating in a research note on Monday, January 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. Campbell Soup Company presently has a consensus rating of Hold and an average price target of $61.47.
In other Campbell Soup Company news, SVP Carlos Barroso sold 1,000 shares of the company’s stock in a transaction dated Wednesday, December 21st. The shares were sold at an average price of $60.31, for a total transaction of $60,310.00. Following the sale, the senior vice president now directly owns 33,760 shares of the company’s stock, valued at $2,036,065.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 37.30% of the stock is currently owned by corporate insiders.
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Campbell Soup Company Company Profile
Campbell Soup Company is a food company, which manufactures and markets food products. The Company’s segments include Americas Simple Meals and Beverages; Global Biscuits and Snacks, and Campbell Fresh. The Americas Simple Meals and Beverages segment includes the retail and food service channel businesses.
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