Cal-Maine Foods (CALM) Stock Dips While Market Gains: Key Facts
Cal-Maine Foods (CALM) closed at $50.78 in the latest trading session, marking a -1.78% move from the prior day. This change lagged the S&P 500's daily gain of 0.39%. Meanwhile, the Dow experienced a rise of 0.43%, and the technology-dominated Nasdaq saw an increase of 0.2%.
Coming into today, shares of the egg producer had gained 4.05% in the past month. In that same time, the Basic Materials sector gained 6.62%, while the S&P 500 gained 5.28%.
The investment community will be paying close attention to the earnings performance of Cal-Maine Foods in its upcoming release.
Investors might also notice recent changes to analyst estimates for Cal-Maine Foods. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. At present, Cal-Maine Foods boasts a Zacks Rank of #4 (Sell).
Looking at valuation, Cal-Maine Foods is presently trading at a Forward P/E ratio of 24.86. This represents a premium compared to its industry's average Forward P/E of 16.17.
It's also important to note that CALM currently trades at a PEG ratio of 1.49. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Agriculture - Products industry held an average PEG ratio of 1.49.
The Agriculture - Products industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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
