Wall Street analysts forecast that Campbell Soup (CPB) will report quarterly earnings of $0.87 per share in its upcoming release, pointing to a year-over-year decline of 14.7%. It is anticipated that revenues will amount to $2.5 billion, exhibiting a decline of 2.7% compared to the year-ago quarter.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.7% to its current level. This demonstrates the covering analysts’ collective reassessment of their initial projections during this period.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company’s quarterly performance, scrutinizing analysts’ projections for some of the company’s key metrics can offer a more comprehensive perspective.
Given this perspective, it’s time to examine the average forecasts of specific Campbell metrics that are routinely monitored and predicted by Wall Street analysts.
According to the collective judgment of analysts, ‘Net sales- Meals and Beverages’ should come in at $1.39 billion. The estimate points to a change of -4.7% from the year-ago quarter.
Analysts expect ‘Net sales- Snacks’ to come in at $1.12 billion. The estimate indicates a year-over-year change of -0.2%.
The consensus estimate for ‘Operating income- Meals and Beverages’ stands at $276.59 million. The estimate compares to the year-ago value of $331 million.
Analysts forecast ‘Operating income- Snacks’ to reach $156.20 million. The estimate compares to the year-ago value of $153 million.
View all Key Company Metrics for Campbell here>>>
Campbell shares have witnessed a change of -2.7% in the past month, in contrast to the Zacks S&P 500 composite’s +9.2% move. With a Zacks Rank #3 (Hold), CPB is expected closely follow the overall market performance in the near term. You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
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