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In the latest trading session, Cal-Maine Foods (CALM) closed at $52.63, marking a +0.1% move from the previous day. This change outpaced the S&P 500's 1.15% loss on the day. At the same time, the Dow lost 0.52%, and the tech-heavy Nasdaq lost 0.37%.
Prior to today's trading, shares of the egg producer had gained 16.66% over the past month. This has outpaced the Basic Materials sector's loss of 24.26% and the S&P 500's loss of 5.08% in that time.
Cal-Maine Foods will be looking to display strength as it nears its next earnings release, which is expected to be July 19, 2022. The company is expected to report EPS of $1.50, up 1766.67% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Cal-Maine Foods. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Cal-Maine Foods is currently a Zacks Rank #3 (Hold).
In terms of valuation, Cal-Maine Foods is currently trading at a Forward P/E ratio of 41.73. For comparison, its industry has an average Forward P/E of 12.06, which means Cal-Maine Foods is trading at a premium to the group.
The Agriculture - Products industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 238, putting it in the bottom 6% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
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CalMaine Foods, Inc. (CALM) : Free Stock Analysis Report
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