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

Cal-Maine Foods (NASDAQ:CALM) posted its quarterly earnings data on Tuesday. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.33, MarketWatch Earnings reports. Cal-Maine Foods had a return on equity of 4.61% and a net margin of 3.19%. The firm had revenue of $347.33 million for the quarter, compared to the consensus estimate of $333.49 million. During the same quarter in the prior year, the business earned ($0.21) EPS. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year.

NASDAQ:CALM traded up $0.03 during trading hours on Tuesday, reaching $37.28. 389,713 shares of the stock were exchanged, compared to its average volume of 416,044. Cal-Maine Foods has a twelve month low of $30.74 and a twelve month high of $46.66. The stock has a market cap of $1.82 billion, a PE ratio of 40.97 and a beta of -0.19. The firm has a 50 day moving average of $38.27 and a 200 day moving average of $40.51.

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 currently owned by company insiders.

CALM has been the topic of a number of analyst reports. TheStreet downgraded Cal-Maine Foods from a “b-” rating to a “c” rating in a research note on Wednesday, September 30th. Stephens reissued an “overweight” rating and issued a $47.00 price target (down previously from $55.00) on shares of Cal-Maine Foods in a research note on Wednesday, December 30th. They noted that the move was a valuation call. Bank of America began coverage on Cal-Maine Foods in a research note on Wednesday, October 28th. They issued a “buy” rating and a $47.00 price target on the stock. Zacks Investment Research upgraded Cal-Maine Foods from a “sell” rating to a “hold” rating in a research report on Tuesday, December 29th. Finally, BidaskClub lowered Cal-Maine Foods from a “hold” rating to a “sell” rating in a research report on Wednesday, December 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $45.67.

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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