Cal-Maine Foods (NASDAQ:CALM) Announces Quarterly Earnings Results


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Cal-Maine Foods (NASDAQ:CALM) announced its quarterly earnings results on Monday. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.33, MarketWatch Earnings reports. Cal-Maine Foods had a net margin of 3.19% and a return on equity of 4.61%. The firm had revenue of $347.33 million for the quarter, compared to analyst estimates of $333.49 million. During the same quarter in the previous year, the firm posted ($0.21) EPS. The business’s revenue for the quarter was up 11.5% on a year-over-year basis.

NASDAQ CALM opened at $38.42 on Thursday. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 28.04 and a beta of -0.23. Cal-Maine Foods has a 52-week low of $30.74 and a 52-week high of $46.66. The business has a 50 day simple moving average of $38.14 and a 200 day simple moving average of $40.47.

CALM has been the topic of several analyst reports. Stephens reaffirmed an “overweight” rating and issued a $47.00 target price (down previously from $55.00) on shares of Cal-Maine Foods in a report on Wednesday, December 30th. They noted that the move was a valuation call. Bank of America began coverage on shares of Cal-Maine Foods in a research report on Wednesday, October 28th. They set a “buy” rating and a $47.00 price target on the stock. BidaskClub downgraded shares of Cal-Maine Foods from a “hold” rating to a “sell” rating in a research report on Wednesday, December 30th. Zacks Investment Research downgraded shares of Cal-Maine Foods from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, ValuEngine upgraded shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a research report on Tuesday, December 1st. Two equities research analysts have rated the stock with a sell rating and three have given a buy rating to the company. Cal-Maine Foods currently has a consensus rating of “Hold” and an average target price of $45.67.

In other news, VP Charles Jeff Hardin bought 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The stock was acquired at an average cost of $38.28 per share, with a total value of $76,560.00. Following the completion of the purchase, the vice president now owns 6,221 shares of the company’s stock, valued at $238,139.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 27.50% of the stock is owned by company insiders.

Cal-Maine Foods Company Profile

Cal-Maine Foods, Inc produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse, and 4-Grain brand names, as well as under private labels.

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Earnings History for Cal-Maine Foods (NASDAQ:CALM)

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