In the latest trading session, Cal-Maine Foods (CALM) closed at $58.95, marking a -0.57% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.79%. Elsewhere, the Dow lost 1.4%, while the tech-heavy Nasdaq lost 0.41%.
Coming into today, shares of the egg producer had gained 3.15% in the past month. In that same time, the Basic Materials sector gained 18.99%, while the S&P 500 gained 8.6%.
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 $2.98 per share, which would represent year-over-year growth of 14800%.
Any recent changes to analyst estimates for Cal-Maine Foods should also be noted by investors. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 remained stagnant. Cal-Maine Foods is currently a Zacks Rank #3 (Hold).
Digging into valuation, Cal-Maine Foods currently has a Forward P/E ratio of 7.32. This valuation marks a premium compared to its industry's average Forward P/E of 7.08.
The Agriculture - Products industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 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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