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Cal-Maine Foods (CALM) Stock Moves -0.79%: What You Should Know
Cal-Maine Foods (CALM - Free Report) closed the most recent trading day at $56.26, moving -0.79% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.53%. At the same time, the Dow lost 1.72%, and the tech-heavy Nasdaq lost 3.27%.
Prior to today's trading, shares of the egg producer had gained 3.66% over the past month. This has outpaced the Basic Materials sector's loss of 0.06% and the S&P 500's loss of 1.28% in that time.
Cal-Maine Foods will be looking to display strength as it nears its next earnings release. On that day, Cal-Maine Foods is projected to report earnings of $6 per share, which would represent year-over-year growth of 640.74%.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
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 remained stagnant. Cal-Maine Foods is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note Cal-Maine Foods's current valuation metrics, including its Forward P/E ratio of 3.39. Its industry sports an average Forward P/E of 11.55, so we one might conclude that Cal-Maine Foods is trading at a discount comparatively.
We can also see that CALM currently has a PEG ratio of 0.16. 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 was holding an average PEG ratio of 0.16 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 172, which puts it in the bottom 32% 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.