Cal-Maine Foods (CALM) Stock Moves -0.23%: What You Should Know
Cal-Maine Foods (CALM) closed the latest trading day at $59.46, indicating a -0.23% change from the previous session's end. The stock exceeded the S&P 500, which registered a loss of 0.28% for the day. Meanwhile, the Dow experienced a drop of 0.08%, and the technology-dominated Nasdaq saw a decrease of 0.42%.
Shares of the egg producer have appreciated by 1.98% over the course of the past month, underperforming the Basic Materials sector's gain of 4.7% and the S&P 500's gain of 2.67%.
The investment community will be paying close attention to the earnings performance of Cal-Maine Foods in its upcoming release. The company is slated to reveal its earnings on April 2, 2024.
Investors should also note any recent changes to analyst estimates for Cal-Maine Foods. Such recent modifications usually signify the changing landscape 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 utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, Cal-Maine Foods possesses a Zacks Rank of #4 (Sell).
In terms of valuation, Cal-Maine Foods is currently trading at a Forward P/E ratio of 17.79. This represents a discount compared to its industry's average Forward P/E of 20.04.
The Agriculture - Products industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 216, finds itself in the bottom 15% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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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Cal-Maine Foods, Inc. (CALM) : Free Stock Analysis Report
