The three major U.S. equity indexes closed lower Monday. The Dow Jones industrials dipped by 0.57%, the S&P 500 dropped 0.67% and the Nasdaq retreated 1.02%. The declines reflect a boost that arrived in mid-morning, only to evaporate slowly by the closing bell. Nine of 11 sectors ended the day with losses, led by tech (1.3%) and real estate (0.9%). The energy (up 1.5%) and utilities (up 0.3%) sectors posted the only gains. All three indexes were trading higher in Tuesday’s premarket, trying to erase Monday’s losses.
Before markets opened on Tuesday, Best Buy beat both top-line and bottom-line estimates and reiterated lackluster guidance given in July. The stock traded up by about 1.6%.
Baidu beat estimates on both the top and bottom lines. Shares traded up about 3.2% Tuesday morning.
After U.S. markets close on Tuesday, ChargePoint, Chewy, CrowdStrike, HP and HPE will be reporting quarterly results.
Here is a preview of four companies set to report results late Wednesday or early Thursday.
Over the past 12 months, shares of Campbell Soup Co. (NYSE: CPB) have risen by about 23.5%, while the consumer staples sector has sunk by more than 10%. For the year to date, Campbell Soup has added about 17.7%, while the S&P 500 has declined by 15.4%. The stock has been flirting with the 52-week high posted in early May and trades about 30% higher than its 52-week low posted in late October. On top of that, the maker of a variety of consumer food products also pays a solid dividend yield. The company reports quarterly results before markets open on Thursday.
Analysts are less than bullish on the shares. Of 18 brokerages covering the stock, 12 have a Hold rating while five rate the stock at Sell or Strong Sell. At a recent price of around $51.10 a share, the stock traded above its median price target of $48.00. At the high price target of $55.00, the upside potential is about 7.6%.
ALSO READ: 8 Safe ‘Strong Buy’ Health Care Dividend Stocks to Buy as Summer Bear Market Rally Ends
For the company’s fourth quarter of fiscal 2022, the consensus revenue estimate is $1.98 billion, which would be down 6.9% sequentially but up by 5.9% year over year. Adjusted earnings per share (EPS) are forecast at $0.56, down 19.5% sequentially and up a penny year over year. For the fiscal year ended in July, estimates call for EPS of $2.84, down 4.7%, on sales of $8.54 billion, up by about 0.8%.
Campbell Soup stock trades at 18.0 times expected 2022 EPS, 17.5 times estimated 2023 earnings of $2.92 and 16.7 times estimated 2024 earnings of $3.07 per share. The stock’s 52-week trading range is $39.76 to $51.94. The company pays an annual dividend of $1.48 (yield of 2.89%). Total shareholder return for the past year was 27.7%.
Sponsored: Tips for Investing
A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.
Source: Read Full Article