Campbell Soup Q3 Profit Falls, but Still Beats View (CPB)

By Staff,

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Packaged foods maker Campbell Soup Company ( CPB ) on Monday posted fiscal third quarter earnings results that narrowly beat Wall Street's view, and the company reiterated its full-year outlook.

The Camden, NJ-based company reported fiscal third quarter net income of $177 million, or 55 cents per share, compared with $187 million, or 57 cents per share, in the year-ago period.

Sales were mostly flat from last year at $1.82 billion.

On average, Wall Street analysts expected a smaller profit of 52 cents per share, on matching revenue of $1.82 billion.

Looking ahead, CPB stood by its previously-announced full-year earnings forecast of $2.35 to $2.42 per share.

Campbell Soup shares fell 40 cents, or -1.2%, in premarket trading Monday.

The Bottom Line
Shares of Campbell Soup ( CPB ) have a 3.47% dividend yield, based on Friday's closing stock price of $33.40. The stock has technical support in the $30-$31 price area. If the shares can firm up, we see overhead resistance around the $36-$37 price levels.

Campbell Soup Company ( CPB ) is not recommended at this time, holding a DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: CPB

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