Cal-Maine Foods (CALM - Free Report) closed at $58.32 in the latest trading session, marking a +1.74% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.6%. Elsewhere, the Dow lost 0.17%, while the tech-heavy Nasdaq lost 0.92%.
Heading into today, shares of the egg producer had gained 4.11% over the past month, outpacing the Basic Materials sector's gain of 1.35% and the S&P 500's gain of 3.56% in that time.
The upcoming earnings release of Cal-Maine Foods will be of great interest to investors.
Any recent changes to analyst estimates for Cal-Maine Foods should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 13.66% lower. At present, Cal-Maine Foods boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Cal-Maine Foods is presently being traded at a Forward P/E ratio of 17.11. Its industry sports an average Forward P/E of 15.79, so one might conclude that Cal-Maine Foods is trading at a premium comparatively.
The Agriculture - Products industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 218, positioning it in the bottom 14% 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.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
Cal-Maine Foods (CALM - Free Report) closed at $58.32 in the latest trading session, marking a +1.74% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.6%. Elsewhere, the Dow lost 0.17%, while the tech-heavy Nasdaq lost 0.92%.
Heading into today, shares of the egg producer had gained 4.11% over the past month, outpacing the Basic Materials sector's gain of 1.35% and the S&P 500's gain of 3.56% in that time.
The upcoming earnings release of Cal-Maine Foods will be of great interest to investors.
Any recent changes to analyst estimates for Cal-Maine Foods should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 13.66% lower. At present, Cal-Maine Foods boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Cal-Maine Foods is presently being traded at a Forward P/E ratio of 17.11. Its industry sports an average Forward P/E of 15.79, so one might conclude that Cal-Maine Foods is trading at a premium comparatively.
The Agriculture - Products industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 218, positioning it in the bottom 14% 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.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
Get the latest research report on CALM - FREE