Cal-Maine Foods (CALM) Ascends But Remains Behind Market: Some Facts to Note
The latest trading session saw Cal-Maine Foods (CALM) ending at $56.68, denoting a +0.07% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 0.14%. Meanwhile, the Dow experienced a rise of 0.3%, and the technology-dominated Nasdaq saw an increase of 0.16%.
The egg producer's stock has climbed by 21.75% in the past month, exceeding the Basic Materials sector's gain of 8.36% and the S&P 500's gain of 4.89%.
The upcoming earnings release of Cal-Maine Foods will be of great interest to investors. The company's earnings report is expected on January 3, 2024.
Investors should also note any recent changes to analyst estimates for Cal-Maine Foods. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 77.4% higher. As of now, Cal-Maine Foods holds a Zacks Rank of #3 (Hold).
Investors should also note Cal-Maine Foods's current valuation metrics, including its Forward P/E ratio of 15.35. This valuation marks no noticeable deviation compared to its industry's average Forward P/E of 15.35.
The Agriculture - Products industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 169, placing it within the bottom 33% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CALM in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Cal-Maine Foods, Inc. (CALM) : Free Stock Analysis Report
