Cal-Maine Foods (CALM) Gains As Market Dips: What You Should Know
In the latest trading session, Cal-Maine Foods (CALM) closed at $47.55, marking a +0.15% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.61%. Meanwhile, the Dow lost 0.41%, and the Nasdaq, a tech-heavy index, added 10.45%.
Heading into today, shares of the egg producer had gained 2.33% over the past month, outpacing the Basic Materials sector's loss of 7.11% and the S&P 500's gain of 1.05% in that time.
Wall Street will be looking for positivity from Cal-Maine Foods as it approaches its next earnings report date. The company is expected to report EPS of $3.21, up 42.67% from the prior-year quarter.
Any recent changes to analyst estimates for Cal-Maine Foods should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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 past month, the Zacks Consensus EPS estimate has moved 0.15% higher. Cal-Maine Foods currently has a Zacks Rank of #4 (Sell).
Looking at its valuation, Cal-Maine Foods is holding a Forward P/E ratio of 2.92. For comparison, its industry has an average Forward P/E of 9.89, which means Cal-Maine Foods is trading at a discount to the group.
Also, we should mention that CALM has a PEG ratio of 0.18. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Agriculture - Products was holding an average PEG ratio of 0.18 at yesterday's closing price.
The Agriculture - Products industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Cal-Maine Foods, Inc. (CALM) : Free Stock Analysis Report
