Campbell Soup Downgraded to Underperform at Credit Suisse (CPB)
Campbell Soup (NYSE:CPB) was downgraded by investment analysts at Credit Suisse from a “neutral” rating to an “underperform” rating in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports.
Campbell Soup (NYSE:CPB) opened at 44.06 on Tuesday. Campbell Soup has a one year low of $38.30 and a one year high of $48.08. The stock has a 50-day moving average of $44.91 and a 200-day moving average of $42.88. The company has a market cap of $13.824 billion and a price-to-earnings ratio of 27.58.
Campbell Soup (NYSE:CPB) last posted its quarterly earnings results on Monday, May 19th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.03. The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $2.00 billion. During the same quarter in the previous year, the company posted $0.62 earnings per share. The company’s revenue for the quarter was up .4% on a year-over-year basis. Analysts expect that Campbell Soup will post $2.53 EPS for the current fiscal year.
CPB has been the subject of a number of other recent research reports. Analysts at ING reiterated a “buy” rating on shares of Campbell Soup in a research note on Friday. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Campbell Soup in a research note on Thursday, May 15th. They now have a $42.00 price target on the stock, up previously from $41.00. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Campbell Soup from $37.00 to $39.00 in a research note on Monday, April 28th. They now have an “underweight” rating on the stock. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $41.36.
Campbell Soup Company (NYSE:CPB), together with its subsidiaries, is a manufacturer and marketer of branded convenience food products.
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