Campbell Soup Company (CPB - Free Report) appears to be placed on safe grounds, courtesy of its robust growth endeavors. The company’s focus on its key North American market and strategy of offloading non-core businesses has been yielding results. Also, it has been benefiting from its solid cost-saving plan. Markedly, Campbell Soup’s Snacks division has been doing well, in particular, and remained all the more sturdy in third-quarter fiscal 2020, thanks to higher volumes stemming from increased at-home consumption amid the pandemic.
Solid results and expectations of continued demand increases encouraged management to raise its net sales, adjusted EBIT and adjusted EPS guidance for fiscal 2020, when it reported third-quarter results. Campbell Soup now expects both net sales and organic sales for fiscal 2020 to increase 5.5-6.5%. Earlier, both metrics were projected to be down 1% to up 1%. Adjusted EBIT is now expected to rise 12-14% compared with the previous view of 2-4% growth. Campbell now expects adjusted EPS in the range of $2.87-$2.92, which indicates growth of 25-27% from $2.30 reported in the year-ago period. Earlier, adjusted EPS was projected to grow 11-13% to $2.55-$2.60.
Incidentally, the Zacks Consensus Estimate for fiscal 2020 has moved north by 5% to $2.93 over the past 60 days. Further, the abovementioned upsides, especially Campbell Soup’s growth strategies, have helped its shares rally 21.2% in a year against the industry’s decline of 2.3%. Let’s delve deeper.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Campbell Soup Company (CPB - Free Report) appears to be placed on safe grounds, courtesy of its robust growth endeavors. The company’s focus on its key North American market and strategy of offloading non-core businesses has been yielding results. Also, it has been benefiting from its solid cost-saving plan. Markedly, Campbell Soup’s Snacks division has been doing well, in particular, and remained all the more sturdy in third-quarter fiscal 2020, thanks to higher volumes stemming from increased at-home consumption amid the pandemic.
Solid results and expectations of continued demand increases encouraged management to raise its net sales, adjusted EBIT and adjusted EPS guidance for fiscal 2020, when it reported third-quarter results. Campbell Soup now expects both net sales and organic sales for fiscal 2020 to increase 5.5-6.5%. Earlier, both metrics were projected to be down 1% to up 1%. Adjusted EBIT is now expected to rise 12-14% compared with the previous view of 2-4% growth. Campbell now expects adjusted EPS in the range of $2.87-$2.92, which indicates growth of 25-27% from $2.30 reported in the year-ago period. Earlier, adjusted EPS was projected to grow 11-13% to $2.55-$2.60.
Incidentally, the Zacks Consensus Estimate for fiscal 2020 has moved north by 5% to $2.93 over the past 60 days. Further, the abovementioned upsides, especially Campbell Soup’s growth strategies, have helped its shares rally 21.2% in a year against the industry’s decline of 2.3%. Let’s delve deeper.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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