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Campbell Soup Co. (CPB), which recently raised its quarterly dividend by 10%, is scheduled to discuss its fiscal first-quarter 2010 financial results in a conference call Monday, November 23, at 10:00 AM ET. You can catch the live webcast of the call on the company's website.
During the three months that ended in October, Campbell revamped its Chunky line of soups, was named to the Dow Jones Sustainability Indexes, and debuted its first Times Square billboard. Analysts surveyed by Thomson Reuters expect the world's biggest soup maker to report that earnings for that period rose 4.9% from a year ago to $0.81 per share. And revenue for the quarter is expected to be 1.5% higher to $2.3 billion.
Looking ahead to the second quarter, analysts so far expect to see greater year-over-year growth in both earnings and revenue. Campbell's earnings have topped analysts' expectations in the past five quarters, by as much as a nickel per share.
The long-term EPS growth forecast is 7.6%, which is better than that of competitor H.J. Heinz Co. (HNZ). Campbell's earnings multiple is 14x, and the First Call consensus recommendation remains to buy CPB, with a mean price target of $36.15. Minyanville expects good results on the heels of the dividend boost, and UBS upgraded CPB due to its momentum.
Shares have climbed 24.8% in the past six months and closed Friday at $34.12.
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