In the latest trading session, Cal-Maine Foods (CALM) closed at $48.33, marking a -0.94% move from the previous day. This move lagged the S&P 500's daily loss of 0.73%. At the same time, the Dow lost 0.77%, and the tech-heavy Nasdaq lost 7.92%.
Prior to today's trading, shares of the egg producer had lost 1.93% over the past month. This has was narrower than the Basic Materials sector's loss of 4.72% and lagged the S&P 500's gain of 0.5% in that time.
Investors will be hoping for strength from Cal-Maine Foods as it approaches its next earnings release. The company is expected to report EPS of $3.21, up 42.67% from the prior-year quarter.
It is also important to note the 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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 0.15% higher. Cal-Maine Foods is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Cal-Maine Foods currently has a Forward P/E ratio of 3. Its industry sports an average Forward P/E of 9.9, so we one might conclude that Cal-Maine Foods is trading at a discount comparatively.
Meanwhile, CALM's PEG ratio is currently 0.18. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Agriculture - Products industry currently had an average PEG ratio of 0.18 as of yesterday's close.
The Agriculture - Products industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 121, putting it in the top 49% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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