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

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

Cal-Maine Foods Stock Performance

Cal-Maine Foods stock traded down $1.07 during trading on Tuesday, hitting $103.68. The company’s stock had a trading volume of 920,733 shares, compared to its average volume of 510,233. The stock’s fifty day moving average is $97.98 and its 200 day moving average is $81.59. Cal-Maine Foods has a 1-year low of $53.38 and a 1-year high of $114.06. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 11.88 and a beta of -0.11.

Analyst Ratings Changes

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

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.