Cal-Maine Foods (CALM) Surpasses Market Returns: Some Facts Worth Knowing
In the latest market close, Cal-Maine Foods (CALM) reached $60.44, with a +1.73% movement compared to the previous day. The stock outpaced the S&P 500's daily gain of 0.63%. Elsewhere, the Dow saw an upswing of 0.2%, while the tech-heavy Nasdaq appreciated by 0.82%.
The the stock of egg producer has risen by 3.64% in the past month, lagging the Basic Materials sector's gain of 5.32% and overreaching the S&P 500's gain of 1.76%.
Investors will be eagerly watching for the performance of Cal-Maine Foods in its upcoming earnings disclosure.
It is also important to note the recent changes to analyst estimates for Cal-Maine Foods. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Cal-Maine Foods is currently a Zacks Rank #4 (Sell).
In terms of valuation, Cal-Maine Foods is presently being traded at a Forward P/E ratio of 17.73. This denotes a premium relative to the industry's average Forward P/E of 15.73.
The Agriculture - Products industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 161, which puts it in the bottom 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Cal-Maine Foods, Inc. (CALM) : Free Stock Analysis Report
