Shares of Campbell Soup Company ( CPB ) soared to a new
52-week high of $46.54 on Tuesday, Apr 16, following its previous
high of $46.45 reached on Apr 2. The company continues to gain from
a consistent positive earnings surprise trend, strong revenue
growth, impressive management guidance, an encouraging cash
position and reasonable valuation levels.
Average volume of shares traded over the last 3 months stands at
approximately 1,980K. Moreover, the stock currently trades at a
forward P/E of 18.2x, at a 9.0% premium from the peer group average
This Zacks Rank #2 (Buy) foods and simple meals manufacturer
closed trade at $46.53 on Apr 16, representing a solid year-to-date
return of approximately 29.5%, while gaining about 38.1% over the
past one year.
Alongside, companies like The Clorox Company (
TheWalt Disney Company ( DIS ) and
Colgate-Palmolive Co. ( CL ) crafted new 52-week
highs of $89.66, $60.75 and $119.48, respectively on Tuesday.
Looking at its earnings surprise history, Campbell has beaten
the Zacks Consensus Estimates consecutively over the past 8
quarters. The average positive surprise in the trailing 8 quarters
comes to 7.1%.
The recent second-quarter fiscal 2013 results have added to its
streak of upbeat performances. Campbell Soup posted earnings of 70
cents per share for second-quarter fiscal 2013, handily surpassing
the Zacks Consensus Estimate of 66 cents, which led to a surprise
of 6.1%. Moreover, quarterly earnings surged 9% year over year,
primarily driven by a 10.5% rise in the top line.
Looking ahead, the company continues to anticipate sales growth
in the range of 10%-12% and earnings between $2.51 and $2.57 per
share in fiscal 2013, reflecting an increase of 3%-5% from 2012
level. The current Zacks Consensus Estimate stands at $2.55 per
Apart from strong results, Campbell's growth story looks
compelling. We believe the company's prudent investment and
strategic initiatives toward product innovation and brand building
will boost its customer base and profitability.COLGATE PALMOLI (CL): Free Stock Analysis
ReportCLOROX CO (CLX): Free Stock Analysis ReportCAMPBELL SOUP (CPB): Free Stock Analysis ReportDISNEY WALT (DIS): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment