The upcoming report from Campbell's (CPB) is expected to reveal quarterly earnings of $0.73 per share, indicating a decline of 18% compared to the year-ago period. Analysts forecast revenues of $2.66 billion, representing a decline of 4.1% year over year.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.5% 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 it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some Campbell metrics that Wall Street analysts commonly model and monitor.
Analysts expect 'Net Sales- Meals & Beverages' to come in at $1.63 billion. The estimate indicates a change of -4.2% from the prior-year quarter.
The average prediction of analysts places 'Net Sales- Snacks' at $1.03 billion. The estimate indicates a year-over-year change of -3.7%.
It is projected by analysts that the 'Operating Earnings- Meals & Beverages' will reach $291.75 million. Compared to the present estimate, the company reported $337.00 million in the same quarter last year.
According to the collective judgment of analysts, 'Operating Earnings- Snacks' should come in at $136.65 million. Compared to the present estimate, the company reported $142.00 million in the same quarter last year.
View all Key Company Metrics for Campbell here>>>
Over the past month, shares of Campbell have returned -0.9% versus the Zacks S&P 500 composite's +0.1% change. Currently, CPB carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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The Campbell's Company (CPB): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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