Campbell Soup (NYSE:CPB) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Campbell Soup (NYSE:CPBGet Free Report) posted its earnings results on Wednesday. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.05, Briefing.com reports. Campbell Soup had a return on equity of 23.26% and a net margin of 7.85%. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same period in the previous year, the firm earned $0.68 EPS. The firm’s revenue was up 6.3% compared to the same quarter last year. Campbell Soup updated its FY 2024 guidance to 3.070-3.100 EPS and its FY24 guidance to $3.07-3.10 EPS.

Campbell Soup Stock Down 1.5 %

CPB stock opened at $42.86 on Friday. The firm has a 50-day moving average price of $44.67 and a 200-day moving average price of $43.57. Campbell Soup has a 12 month low of $37.94 and a 12 month high of $46.97. The company has a current ratio of 0.62, a quick ratio of 0.43 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $12.80 billion, a P/E ratio of 17.35, a price-to-earnings-growth ratio of 2.69 and a beta of 0.19.

Campbell Soup Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Wednesday, July 3rd will be given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date is Wednesday, July 3rd. Campbell Soup’s dividend payout ratio is presently 59.92%.

Analyst Upgrades and Downgrades

Several research firms have commented on CPB. Piper Sandler reiterated a “neutral” rating and issued a $47.00 price objective on shares of Campbell Soup in a report on Tuesday, March 26th. JPMorgan Chase & Co. increased their price target on shares of Campbell Soup from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, March 1st. DA Davidson began coverage on Campbell Soup in a report on Friday, March 1st. They set a “buy” rating and a $48.00 price objective for the company. Wells Fargo & Company increased their target price on Campbell Soup from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Evercore ISI assumed coverage on Campbell Soup in a research note on Wednesday, March 13th. They issued an “in-line” rating and a $49.00 price target for the company. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $46.41.

Read Our Latest Report on CPB

Campbell Soup Company Profile

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Campbell Soup Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States and internationally. The company operates through Meals & Beverages and Snacks segments. The Meals & Beverages segment engages in the retail and foodservice businesses in the United States and Canada.

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Earnings History for Campbell Soup (NYSE:CPB)

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