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

Posted by Adam Masters on Jan 7th, 2021 // Comments off

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

CALM opened at $38.42 on Thursday. Cal-Maine Foods has a 52-week low of $30.74 and a 52-week high of $46.66. The company has a market cap of $1.87 billion, a P/E ratio of 28.04 and a beta of -0.23. The firm’s 50-day moving average price is $38.14 and its 200-day moving average price is $40.47.

A number of equities analysts have commented on CALM shares. BidaskClub downgraded shares of Cal-Maine Foods from a “hold” rating to a “sell” rating in a report on Wednesday, December 30th. Stephens reiterated an “overweight” rating and issued a $47.00 target price (down 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. ValuEngine upgraded shares of Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Tuesday, December 1st. TheStreet downgraded shares of Cal-Maine Foods from a “b-” rating to a “c” rating in a report on Wednesday, September 30th. Finally, Zacks Investment Research downgraded shares of Cal-Maine Foods from a “hold” rating to a “sell” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $45.67.

In related news, VP Charles Jeff Hardin acquired 2,000 shares of the business’s stock in a transaction dated Thursday, October 15th. The shares were purchased at an average price of $38.28 per share, for a total transaction of $76,560.00. Following the completion of the acquisition, the vice president now directly owns 6,221 shares in the company, valued at approximately $238,139.88. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate 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.

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

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