Cal-Maine Foods (CALM) Increases Despite Market Slip: Here's What You Need to Know
Cal-Maine Foods (CALM) closed at $56.66 in the latest trading session, marking a +1.54% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.12%. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, lost 0.41%.
The egg producer's shares have seen a decrease of 2% over the last month, not keeping up with the Basic Materials sector's gain of 0.72% and the S&P 500's gain of 4.83%.
The upcoming earnings release of Cal-Maine Foods will be of great interest to investors.
Investors should also note any recent changes to analyst estimates for Cal-Maine Foods. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 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. Over the past month, the Zacks Consensus EPS estimate has shifted 13.66% downward. At present, Cal-Maine Foods boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Cal-Maine Foods is currently trading at a Forward P/E ratio of 16.66. This valuation marks a discount compared to its industry's average Forward P/E of 17.19.
The Agriculture - Products industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 194, which puts it in the bottom 24% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Cal-Maine Foods, Inc. (CALM) : Free Stock Analysis Report
