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Cal-Maine Foods (CALM) Flat As Market Sinks: What You Should Know

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Cal-Maine Foods (CALM - Free Report) closed at $57.26 in the latest trading session, marking no change from the prior day. This move was narrower than the S&P 500's daily loss of 2.5%. Elsewhere, the Dow lost 1.55%, while the tech-heavy Nasdaq lost 0.21%.

Prior to today's trading, shares of the egg producer had gained 3.68% over the past month. This has lagged the Basic Materials sector's gain of 7.13% and the S&P 500's gain of 7.7% in that time.

Wall Street will be looking for positivity from Cal-Maine Foods as it approaches its next earnings report date. 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 should also note any recent changes to analyst estimates for Cal-Maine Foods. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 10.66% higher. Cal-Maine Foods is currently a Zacks Rank #1 (Strong Buy).

Investors should also note Cal-Maine Foods's current valuation metrics, including its Forward P/E ratio of 7.07. This represents a discount compared to its industry's average Forward P/E of 7.23.

The Agriculture - Products industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 57, putting it in the top 23% 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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