|Bid||36.62 x 1300|
|Ask||36.77 x 1000|
|Day's Range||36.55 - 37.25|
|52 Week Range||30.74 - 46.66|
|Beta (5Y Monthly)||-0.23|
|PE Ratio (TTM)||26.75|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Apr 30, 2019|
|1y Target Est||N/A|
Shares of this egg producer are attractively valued relative to the company's projected long-term earnings growth.
Shares of Cal-Maine Foods jumped 5.3% in Wednesday's pre-market trading session as the company crushed analysts’ estimates for the second quarter of fiscal 2021, ended Nov. 28.The company’s 2Q sales grew 11.5% year-over-year to $347.3 million, exceeding analysts’ expectation of $333.5 million. Cal-Maine (CALM) attributed the top-line growth to favorable demand trends for shell eggs mainly at the retail level as consumers continue to cook more at home during the current health crisis.However, Cal-Maine stated that demand from foodservice channels has been less consistent and remains well below pre-pandemic levels, owing to various restrictions on restaurants in different areas of the country.Meanwhile, strong sales helped the company to flip to EPS of $0.25 in 2Q FY21, from a loss per share of $0.21 in 2Q FY20. Analysts were expecting a loss of $0.08. (See CALM stock analysis on TipRanks)CEO Dolph Baker stated, “While we are still facing an uncertain environment, we believe retail demand for eggs will remain strong, and we are optimistic that effective vaccines will soon be widely available, restoring consumer confidence and allowing restaurants and food service operators to resume regular schedules.”The company also expects continued volatility in feed costs for the remainder of FY21 as higher export demand for both soybeans and corn is putting pressure on domestic supplies.Additionally, Cal-Maine cautioned that market prices for its primary feed ingredients could also be impacted by the ongoing uncertainties and supply chain disruptions associated with the COVID-19 pandemic, weather fluctuations and geopolitical issues surrounding trade agreements and international tariffs.Recently, Stephens analyst Ben Bienvenu lowered the price target on Cal-Maine to $47 from $55 but reiterated a Buy rating. In a note to investors, Bienvenu stated that the company's operating environment "remains volatile" as retail demand remains strong, while foodservice and institutional demand continues to be weak.Nonetheless, Bienvenu said that the recent vaccine developments are favorable for the pricing outlook and the stock's valuation remains attractive.Overall, Cal-Maine scores the Street’s Moderate Buy analyst consensus based on 2 Buy ratings. The average price target of $47 suggests that shares could rise 26.1% from current levels. Shares fell about 12% in 2020.Related News: Amazon Boosts Cargo Fleet With 11 Boeing Aircraft; Street Sees 18% Upside GM Gains On Solid 4Q Vehicle Sales; Street Sees 25% Upside Workhorse Rises 8% On EV Order From Pride; Top Analyst Stays Bullish More recent articles from Smarter Analyst: * Honeywell, TAT Ink 10-Year Agreement For Engine Services; Shares Pop 58% * DoorDash Is a Great Company, but the Stock Is Fairly Valued, Says Analyst * 2 “Strong Buy” Penny Stocks That Could Deliver Massive Returns * These 2 Penny Stocks Are Poised to Go Boom, Say Analysts
Shares of Cal-Maine Foods (NASDAQ:CALM) rose 4.6% in after-market trading after the company reported Q2 results.Quarterly Results Earnings per share increased 219.05% over the past year to $0.25, which beat the estimate of ($0.08).Revenue of $347,328,000 rose by 11.49% from the same period last year, which beat the estimate of $333,490,000.Looking Ahead Earnings guidance hasn't been issued by the company for now.View more earnings on CALMRevenue guidance hasn't been issued by the company for now.Recent Stock Performance Company's 52-week high was at $46.6652-week low: $30.74Price action over last quarter: down 3.34%Company Overview Cal-Maine Foods Inc produces and sells shell eggs. Its main market is United States. The company's product portfolio contains nutritionally enhanced, cage-free, organic, and brown eggs. Cal-Maine Foods markets the shell eggs to a diverse group of customers, including grocery-store chains, club stores, and foodservice distributors. The company's brands are: Egg-Land's Best, Land O' Lakes, Farmhouse, and 4-Grain.See more from Benzinga * Click here for options trades from Benzinga * Earnings Scheduled For January 5, 2021 * Cal-Maine Foods' Earnings: A Preview(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.