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Cal-Maine Foods (CALM) Outpaces Stock Market Gains: What You Should Know
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Cal-Maine Foods (CALM - Free Report) closed at $48.64 in the latest trading session, marking a +0.77% move from the prior day. This move outpaced the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq gained 0.45%.
Heading into today, shares of the egg producer had gained 2.59% over the past month, outpacing the Basic Materials sector's loss of 2.9% and the S&P 500's loss of 1.38% in that time.
Investors will be hoping for strength from Cal-Maine Foods as it approaches its next earnings release, which is expected to be October 3, 2023. The company is expected to report EPS of -$0.01, down 100.39% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Cal-Maine Foods. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Cal-Maine Foods is currently a Zacks Rank #5 (Strong Sell).
In terms of valuation, Cal-Maine Foods is currently trading at a Forward P/E ratio of 16.31. This valuation marks a discount compared to its industry's average Forward P/E of 16.4.
We can also see that CALM currently has a PEG ratio of 0.98. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Agriculture - Products industry currently had an average PEG ratio of 0.98 as of yesterday's close.
The Agriculture - Products industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 178, which puts it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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 (CALM) Outpaces Stock Market Gains: What You Should Know
Cal-Maine Foods (CALM - Free Report) closed at $48.64 in the latest trading session, marking a +0.77% move from the prior day. This move outpaced the S&P 500's daily gain of 0.4%. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq gained 0.45%.
Heading into today, shares of the egg producer had gained 2.59% over the past month, outpacing the Basic Materials sector's loss of 2.9% and the S&P 500's loss of 1.38% in that time.
Investors will be hoping for strength from Cal-Maine Foods as it approaches its next earnings release, which is expected to be October 3, 2023. The company is expected to report EPS of -$0.01, down 100.39% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Cal-Maine Foods. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Cal-Maine Foods is currently a Zacks Rank #5 (Strong Sell).
In terms of valuation, Cal-Maine Foods is currently trading at a Forward P/E ratio of 16.31. This valuation marks a discount compared to its industry's average Forward P/E of 16.4.
We can also see that CALM currently has a PEG ratio of 0.98. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Agriculture - Products industry currently had an average PEG ratio of 0.98 as of yesterday's close.
The Agriculture - Products industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 178, which puts it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.