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Cal-Maine Foods (CALM) Gains As Market Dips: What You Should Know
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In the latest trading session, Cal-Maine Foods (CALM - Free Report) closed at $49.27, marking a +1.3% move from the previous day. This change outpaced the S&P 500's 1.47% loss on the day. Elsewhere, the Dow lost 1.14%, while the tech-heavy Nasdaq lost 1.57%.
Prior to today's trading, shares of the egg producer had gained 3.01% over the past month. This has outpaced the Basic Materials sector's gain of 2.62% and the S&P 500's loss of 1.43% in that time.
Wall Street will be looking for positivity from Cal-Maine Foods as it approaches its next earnings report date. This is expected to be October 3, 2023. In that report, analysts expect Cal-Maine Foods to post earnings of -$0.01 per share. This would mark a year-over-year decline of 100.39%.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Cal-Maine Foods is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Cal-Maine Foods currently has a Forward P/E ratio of 28.36. This represents a premium compared to its industry's average Forward P/E of 22.4.
It is also worth noting that CALM currently has a PEG ratio of 1.7. 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 1.7 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 54, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Gains As Market Dips: What You Should Know
In the latest trading session, Cal-Maine Foods (CALM - Free Report) closed at $49.27, marking a +1.3% move from the previous day. This change outpaced the S&P 500's 1.47% loss on the day. Elsewhere, the Dow lost 1.14%, while the tech-heavy Nasdaq lost 1.57%.
Prior to today's trading, shares of the egg producer had gained 3.01% over the past month. This has outpaced the Basic Materials sector's gain of 2.62% and the S&P 500's loss of 1.43% in that time.
Wall Street will be looking for positivity from Cal-Maine Foods as it approaches its next earnings report date. This is expected to be October 3, 2023. In that report, analysts expect Cal-Maine Foods to post earnings of -$0.01 per share. This would mark a year-over-year decline of 100.39%.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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. The Zacks Consensus EPS estimate remained stagnant within the past month. Cal-Maine Foods is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Cal-Maine Foods currently has a Forward P/E ratio of 28.36. This represents a premium compared to its industry's average Forward P/E of 22.4.
It is also worth noting that CALM currently has a PEG ratio of 1.7. 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 1.7 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 54, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.