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Cal-Maine Foods (CALM) Stock Dips While Market Gains: Key Facts
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The latest trading session saw Cal-Maine Foods (CALM - Free Report) ending at $58.62, denoting a -1.41% adjustment from its last day's close. This change lagged the S&P 500's daily gain of 0.86%. Elsewhere, the Dow saw an upswing of 1.22%, while the tech-heavy Nasdaq appreciated by 0.51%.
The egg producer's stock has climbed by 2.61% in the past month, falling short of the Basic Materials sector's gain of 5.24% and the S&P 500's gain of 2.84%.
Analysts and investors alike will be keeping a close eye on the performance of Cal-Maine Foods in its upcoming earnings disclosure. The company's earnings report is set to go public on April 2, 2024.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Cal-Maine Foods. Such recent modifications usually signify the changing landscape of 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.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Cal-Maine Foods boasts a Zacks Rank of #4 (Sell).
Looking at valuation, Cal-Maine Foods is presently trading at a Forward P/E ratio of 17.75. This denotes a discount relative to the industry's average Forward P/E of 20.
The Agriculture - Products industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 216, positioning it in the bottom 15% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Cal-Maine Foods (CALM) Stock Dips While Market Gains: Key Facts
The latest trading session saw Cal-Maine Foods (CALM - Free Report) ending at $58.62, denoting a -1.41% adjustment from its last day's close. This change lagged the S&P 500's daily gain of 0.86%. Elsewhere, the Dow saw an upswing of 1.22%, while the tech-heavy Nasdaq appreciated by 0.51%.
The egg producer's stock has climbed by 2.61% in the past month, falling short of the Basic Materials sector's gain of 5.24% and the S&P 500's gain of 2.84%.
Analysts and investors alike will be keeping a close eye on the performance of Cal-Maine Foods in its upcoming earnings disclosure. The company's earnings report is set to go public on April 2, 2024.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Cal-Maine Foods. Such recent modifications usually signify the changing landscape of 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.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. At present, Cal-Maine Foods boasts a Zacks Rank of #4 (Sell).
Looking at valuation, Cal-Maine Foods is presently trading at a Forward P/E ratio of 17.75. This denotes a discount relative to the industry's average Forward P/E of 20.
The Agriculture - Products industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 216, positioning it in the bottom 15% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.