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In the latest trading session, Cal-Maine Foods (CALM) closed at $51.86, marking a -0.31% move from the previous day. This change lagged the S&P 500's 1.56% gain on the day. Meanwhile, the Dow gained 1.29%, and the Nasdaq, a tech-heavy index, added 0.01%.
Heading into today, shares of the egg producer had gained 6.82% over the past month, outpacing the Basic Materials sector's gain of 0.9% and lagging the S&P 500's gain of 7.11% in that time.
Cal-Maine Foods will be looking to display strength as it nears its next earnings release. On that day, Cal-Maine Foods is projected to report earnings of $1.98 per share, which would represent year-over-year growth of 635.14%.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 moved 251.59% higher. Cal-Maine Foods currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that Cal-Maine Foods has a Forward P/E ratio of 11.74 right now. Its industry sports an average Forward P/E of 11.74, so we one might conclude that Cal-Maine Foods is trading at a no noticeable deviation comparatively.
The Agriculture - Products industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 40, which puts it in the top 16% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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CalMaine Foods, Inc. (CALM) : Free Stock Analysis Report
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