Cal-Maine Foods (CALM) Stock Moves -0.31%: What You Should Know
In the latest market close, Cal-Maine Foods (CALM) reached $55.42, with a -0.31% movement compared to the previous day. The stock outperformed the S&P 500, which registered a daily loss of 1.61%. Elsewhere, the Dow saw a downswing of 0.82%, while the tech-heavy Nasdaq depreciated by 2.23%.
Shares of the egg producer witnessed a loss of 1.92% over the previous month, beating the performance of the Basic Materials sector with its loss of 6.01% and underperforming the S&P 500's gain of 3.28%.
The investment community will be closely monitoring the performance of Cal-Maine Foods in its forthcoming earnings report.
Investors should also pay attention to any latest changes in analyst estimates for Cal-Maine Foods. 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 5.15% increase. Cal-Maine Foods currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Cal-Maine Foods is holding a Forward P/E ratio of 14.33. Its industry sports an average Forward P/E of 14.21, so one might conclude that Cal-Maine Foods is trading at a premium comparatively.
The Agriculture - Products industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 112, this industry ranks in the top 45% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Cal-Maine Foods, Inc. (CALM) : Free Stock Analysis Report
