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CPB

Campbell Soup

$56.94

-0.47 (-0.82%)

07:19
05/19/17
05/19
07:19
05/19/17
07:19

Campbell Soup reports Q3 adjusted EPS 59c, consensus 64c

Reports Q3 revenue $1.85B, consensus $1.87B. Denise Morrison, Campbell's President and CEO, said, "While organic sales declined 1 percent in the quarter, the team performed well in a difficult environment, gaining market share in many of our categories and continuing to execute our cost savings program. This was a challenging quarter across the food industry as top-line growth remained scarce, especially in center store categories. The industry, including Campbell, experienced significant consumption declines early in the calendar year. These industry trends coincided with weak consumer spending, which was at its lowest growth rate since 2009. While we rebounded with sales growth in March and April, we were unable to offset the earlier declines. In this context, Campbell delivered competitive performance. A bright spot in the quarter was our Global Biscuits and Snacks division, which delivered top-line and double-digit bottom-line growth. Looking ahead as we finish the fiscal year, we expect Global Biscuits and Snacks to maintain its positive momentum, and we will also be cycling the C-Fresh protein drink recall from last year. We are adjusting our fiscal 2017 guidance, reflecting our performance in the quarter, the difficult operating environment and our outlook for the remainder of the year. We lowered our sales outlook by one percentage point to a range of -1 to 0 percent. We raised our expectations for adjusted EBIT and adjusted EPS, increasing the low end of both ranges to 2 to 4 percent and 3 to 5 percent, respectively. Despite the challenges on the top line, we expect that we will be able to offset the impact of lower sales with our ongoing cost-savings efforts, which are ahead of our expectations for the fiscal year."

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    May

CPB Campbell Soup
$56.94

-0.47 (-0.82%)

03/21/17
03/21/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Sprouts Farmers Market (SFM) downgraded to Market Perform at BMO Capital. 2. HubSpot (HUBS) downgraded to Outperform from Strong Buy at Raymond James analyst Terry Tilman saying shares have significantly outperformed year-to-date and recommends taking some profits. 3. MEDNAX (MD) downgraded to Neutral from Outperform at Baird analyst Whit Mayo citing a balanced risk/reward, weak organic growth, its sector high historical and relative EBITDA valuation, and a current setup that appears to be reliant on M&A. 4. Cracker Barrel (CBRL) downgraded to Hold from Buy at Argus with analyst John Staszak saying he expects customer traffic to remain weak and same-store sales growth to decelerate over the next several quarters. 5. Conagra Brands (CAG), Kellogg (K), J.M. Smucker (SJM), General Mills (GIS), and Campbell Soup (CPB) were downgraded to Underperform from Market Perform at Bernstein. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
03/21/17
BERN
03/21/17
NO CHANGE
BERN
U.S. food companies downgraded to Underperform at Bernstein
Bernstein analyst Alexia Howard downgraded General Mills (GIS), Kellogg (K), J.M. Smucker (SJM), Conagra Brands (CAG), and Campbell Soup (CPB) to Underperform from Market Perform. As reasons for the downgrades, Howard cited the companies' deteriorating revenue trends and her belief that any takeover premiums for the companies " are unlikely to be particularly high." She adds that activist investors probably won't get involved in the stocks while they are trading at such high valuations. Finally, the analyst believes that the companies are being hurt by consumers' desire for fresher foods and unfavorable shelf space trends at retailers. General Mills target to $52 from $61, Campbell target to $54 from $61, J.M. Smucker target to $130 from $147, Kellogg target to $69 from $83, Conagra target remains $36.
03/21/17
BERN
03/21/17
DOWNGRADE
BERN
Underperform
Campbell Soup downgraded to Underperform from Market Perform at Bernstein
02/15/17
02/15/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Kraft Heinz (KHC) and ConAgra Brands (CAG) were initiated with Buy ratings at Deutsche Bank. The firm also initiated Campbell Soup (CPB), J.M. Smucker (SJM) General Mills (GIS), Hershey (HSY), Kellogg (K) and Mondelez (MDLZ) with a Hold, as well as Pinnacle Foods (PF), Hostess Brands (TWNK) and Snyder's Lance (LNCE) with a Buy. 2. MasterCard (MA) and Visa (V) initiated with Buy ratings at Loop Capital by analyst Joseph Vafi. 3. Bioverativ (BIVV) initiated with an Outperform rating and $56 price target at Leerink by analyst Jason Gerberry. 4. Encana (ECA) initiated with an Overweight at JPMorgan. The firm also reinstated Cheniere Energy (LNG) and Cheniere Energy Partners LP (CQH) with Overweight ratings. 5. Blueprint Medicines (BPMC) initiated with an Overweight at Morgan Stanley by analyst Andrew Berens. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here

TODAY'S FREE FLY STORIES

TOO

Teekay Offshore Partners

$2.55

-0.03 (-1.16%)

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QEP

QEP Resources

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-1.34 (-14.46%)

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RDFN

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XOM

Exxon Mobil

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0.46 (0.57%)

, CVX

Chevron

$106.11

0.99 (0.94%)

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TTPH

Tetraphase

$6.96

-0.92 (-11.68%)

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BVN

Buenaventura

$12.45

0.1 (0.81%)

19:26
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Earnings
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BAS

Basic Energy

$28.67

0.06 (0.21%)

19:02
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BAS

Basic Energy

$28.67

0.06 (0.21%)

19:01
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Earnings
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GE

General Electric

$25.79

0.2 (0.78%)

18:55
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Periodicals
Breaking Periodicals news story on General Electric »

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  • 02

    Oct

AIV

Aimco

$44.01

0.13 (0.30%)

18:53
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Earnings
Aimco reports Q2 AFFO 51c vs 50c last year »

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NOV

National Oilwell

$33.71

0.37 (1.11%)

18:43
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18:43
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18:43
Earnings
National Oilwell reports Q2 adjusted EPS (14c), consensus (15c) »

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AIG

AIG

$65.17

-0.02 (-0.03%)

, IEP

Icahn Enterprises

$53.12

-0.78 (-1.45%)

18:39
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Periodicals
Senators worried over whether Icahn is pushing regulators on AIG, Reuters says »

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AIG

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$65.17

-0.02 (-0.03%)

IEP

Icahn Enterprises

$53.12

-0.78 (-1.45%)

PRU

Prudential

$112.74

0.55 (0.49%)

03/08/13
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HTBK

Heritage Commerce

$13.85

-0.14 (-1.00%)

18:24
07/27/17
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Earnings
Heritage Commerce reports Q2 EPS 19c, consensus 19c »

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  • 01

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EGO

Eldorado Gold

$2.40

-0.07 (-2.83%)

18:22
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Eldorado Gold cuts FY17 gold production view to 290K-340K ounces from 365K-400K »

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EGO

Eldorado Gold

$2.40

-0.07 (-2.83%)

18:21
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Earnings
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  • 28

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KVHI

KVH Industries

$11.25

1.05 (10.29%)

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CASH

Meta Financial

$92.25

-1.4 (-1.49%)

18:18
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  • 01

    Aug

SCG

Scana

$65.64

0.36 (0.55%)

, TOSBF

Toshiba, also use TOSYY

$2.41

-0.092 (-3.68%)

18:15
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SCG

Scana

$65.64

0.36 (0.55%)

TOSBF

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$2.41

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$14.49

-0.41 (-2.75%)

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ATEN

A10 Networks

$6.31

-0.06 (-0.94%)

18:14
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Earnings
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NBLX

Noble Midstream

$45.35

0.15 (0.33%)

18:07
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Noble Midstream increases dividend 8.5% to 44.6c per share »

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  • 03

    Aug

AMZN

Amazon.com

$1,046.00

-6.8 (-0.65%)

18:02
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SAM

Boston Beer

$135.65

1.7 (1.27%)

, PFG

Principal Financial

$66.63

-0.03 (-0.05%)

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SAM

Boston Beer

$135.65

1.7 (1.27%)

PFG

Principal Financial

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FSLR

First Solar

$44.81

-0.63 (-1.39%)

GIMO

Gigamon

$37.75

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BIDU

Baidu

$201.00

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UCTT

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$24.54

-0.3 (-1.21%)

CY

Cypress Semiconductor

$14.64

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ALGN

Align Technology

$157.26

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EXPE

Expedia

$154.25

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CERN

Cerner

$63.52

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AGRX

Agile Therapeutics

$4.60

-0.17 (-3.56%)

ELLI

Ellie Mae

$109.90

-3.49 (-3.08%)

CCMP

Cabot Microelectronics

$73.62

-7.32 (-9.04%)

NUVA

NuVasive

$76.90

-2.56 (-3.22%)

WIX

Wix.com

$73.60

-3.25 (-4.23%)

FLS

Flowserve

$46.36

-0.28 (-0.60%)

ECHO

Echo Global

$17.35

-0.5 (-2.80%)

FLEX

Flex

$17.09

0.11 (0.65%)

PDFS

PDF Solutions

$18.67

-1.02 (-5.18%)

BOJA

Bojangles

$15.65

-0.25 (-1.57%)

LEG

Leggett & Platt

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-0.04 (-0.08%)

SBUX

Starbucks

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1.56 (2.69%)

MAT

Mattel

$21.30

0.38 (1.82%)

EA

Electronic Arts

$117.60

-0.4 (-0.34%)

AMZN

Amazon.com

$1,046.00

-6.8 (-0.65%)

WDC

Western Digital

$91.90

-1.06 (-1.14%)

INTC

Intel

$34.97

0.22 (0.63%)

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AMZN

Amazon.com

$1,046.00

-6.8 (-0.65%)

18:00
07/27/17
07/27
18:00
07/27/17
18:00
Hot Stocks
Amazon says becoming more efficient on optimizing new fulfillment centers »

continues to take up to…

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AMGN

Amgen

$172.15

-3.74 (-2.13%)

18:00
07/27/17
07/27
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18:00
Hot Stocks
Amgen says FDA grants priority review for sBLA for Repatha »

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WDC

Western Digital

$91.98

-0.99 (-1.06%)

17:57
07/27/17
07/27
17:57
07/27/17
17:57
Earnings
Breaking Earnings news story on Western Digital »

Western Digital targeting…

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