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Cal-Maine Foods (CALM) Gains As Market Dips: What You Should Know
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Cal-Maine Foods (CALM - Free Report) closed the most recent trading day at $61.08, moving +1.75% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.9%. At the same time, the Dow lost 0.5%, and the tech-heavy Nasdaq lost 0.27%.
Heading into today, shares of the egg producer had gained 12.31% over the past month, outpacing the Basic Materials sector's loss of 0.53% and the S&P 500's loss of 2.66% 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 December 28, 2022. In that report, analysts expect Cal-Maine Foods to post earnings of $2.98 per share. This would mark year-over-year growth of 14800%.
Investors might also notice 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Cal-Maine Foods is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Cal-Maine Foods is currently trading at a Forward P/E ratio of 7.42. This represents a premium compared to its industry's average Forward P/E of 7.17.
It is also worth noting that CALM currently has a PEG ratio of 0.62. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Agriculture - Products was holding an average PEG ratio of 0.62 at yesterday's closing price.
The Agriculture - Products industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 159, which puts it in the bottom 37% 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.
To follow CALM in the coming trading sessions, be sure to utilize Zacks.com.
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Cal-Maine Foods (CALM) Gains As Market Dips: What You Should Know
Cal-Maine Foods (CALM - Free Report) closed the most recent trading day at $61.08, moving +1.75% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.9%. At the same time, the Dow lost 0.5%, and the tech-heavy Nasdaq lost 0.27%.
Heading into today, shares of the egg producer had gained 12.31% over the past month, outpacing the Basic Materials sector's loss of 0.53% and the S&P 500's loss of 2.66% 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 December 28, 2022. In that report, analysts expect Cal-Maine Foods to post earnings of $2.98 per share. This would mark year-over-year growth of 14800%.
Investors might also notice 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Cal-Maine Foods is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Cal-Maine Foods is currently trading at a Forward P/E ratio of 7.42. This represents a premium compared to its industry's average Forward P/E of 7.17.
It is also worth noting that CALM currently has a PEG ratio of 0.62. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Agriculture - Products was holding an average PEG ratio of 0.62 at yesterday's closing price.
The Agriculture - Products industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 159, which puts it in the bottom 37% 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.
To follow CALM in the coming trading sessions, be sure to utilize Zacks.com.