Cal-Maine Foods (NASDAQ:CALM) Posts Earnings Results, Beats Expectations By $0.42 EPS

Cal-Maine Foods (NASDAQ:CALM) posted its earnings results on Tuesday. The basic materials company reported $4.47 EPS for the quarter, topping analysts’ consensus estimates of $4.05 by $0.42, Zacks reports. Cal-Maine Foods had a net margin of 16.09% and a return on equity of 24.25%. The business had revenue of $954.70 million for the quarter, compared to analysts’ expectations of $751.50 million. During the same period in the previous year, the company posted $0.35 earnings per share. The business’s revenue for the quarter was up 82.5% compared to the same quarter last year.

Cal-Maine Foods Trading Down 1.0 %

NASDAQ CALM traded down $1.07 on Tuesday, hitting $103.68. 920,733 shares of the stock traded hands, compared to its average volume of 510,233. The stock has a 50-day moving average of $97.98 and a 200 day moving average of $81.59. Cal-Maine Foods has a twelve month low of $53.38 and a twelve month high of $114.06. The company has a market capitalization of $5.08 billion, a P/E ratio of 11.88 and a beta of -0.11.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CALM shares. Stephens began coverage on Cal-Maine Foods in a research note on Thursday, October 3rd. They set an “equal weight” rating and a $82.00 price objective for the company. StockNews.com downgraded shares of Cal-Maine Foods from a “buy” rating to a “hold” rating in a research report on Tuesday.

About Cal-Maine Foods

Cal-Maine Foods, Inc, together with its subsidiaries, produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, free-range, pasture-raised, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, Sunups, Sunny Meadow, and 4Grain brand names.