Cal-Maine Foods (CALM) Dips More Than Broader Market: What You Should Know
In the latest trading session, Cal-Maine Foods (CALM) closed at $49.51, marking a -0.36% move from the previous day. This move lagged the S&P 500's daily loss of 0.08%. At the same time, the Dow added 0.16%, and the tech-heavy Nasdaq lost 0.22%.
The egg producer's shares have seen an increase of 0.26% over the last month, surpassing the Basic Materials sector's loss of 1.53% and falling behind the S&P 500's gain of 1.42%.
Market participants will be closely following the financial results of Cal-Maine Foods in its upcoming release.
Any recent changes to analyst estimates for Cal-Maine Foods should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 12.24% decrease. Right now, Cal-Maine Foods possesses a Zacks Rank of #3 (Hold).
Digging into valuation, Cal-Maine Foods currently has a Forward P/E ratio of 23.89. For comparison, its industry has an average Forward P/E of 15.01, which means Cal-Maine Foods is trading at a premium to the group.
It is also worth noting that CALM currently has a PEG ratio of 1.44. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Agriculture - Products industry currently had an average PEG ratio of 1.44 as of yesterday's close.
The Agriculture - Products industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 45, putting it in the top 18% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Cal-Maine Foods, Inc. (CALM) : Free Stock Analysis Report
