Cal-Maine Foods (NASDAQ:CALM) issued its earnings results on Monday. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $347.33 million during the quarter, compared to the consensus estimate of $333.49 million. During the same period last year, the company earned ($0.21) EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis.
Shares of Cal-Maine Foods stock opened at $38.42 on Thursday. The business has a 50-day moving average of $38.14 and a 200 day moving average of $40.47. Cal-Maine Foods has a 12 month low of $30.74 and a 12 month high of $46.66. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 28.04 and a beta of -0.23.
A number of analysts have issued reports on CALM shares. TheStreet downgraded Cal-Maine Foods from a “b-” rating to a “c” rating in a research note on Wednesday, September 30th. BidaskClub downgraded Cal-Maine Foods from a “hold” rating to a “sell” rating in a research report on Wednesday, December 30th. Stephens reissued an “overweight” rating and set a $47.00 price objective (down from $55.00) on shares of Cal-Maine Foods in a research report on Wednesday, December 30th. They noted that the move was a valuation call. Bank of America initiated coverage on Cal-Maine Foods in a research report on Wednesday, October 28th. They set a “buy” rating and a $47.00 price objective for the company. Finally, ValuEngine raised Cal-Maine Foods from a “hold” rating to a “buy” rating in a research report on Tuesday, December 1st. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $45.67.
In other news, VP Charles Jeff Hardin bought 2,000 shares of the stock in a transaction that occurred on Thursday, October 15th. The stock was bought at an average cost of $38.28 per share, for a total transaction of $76,560.00. Following the acquisition, the vice president now directly owns 6,221 shares of the company’s stock, valued at approximately $238,139.88. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 27.50% of the company’s stock.
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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