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

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

Cal-Maine Foods Price Performance

NASDAQ CALM opened at $103.68 on Wednesday. The company’s 50 day simple moving average is $98.25 and its 200 day simple moving average is $81.91. Cal-Maine Foods has a 12 month low of $53.38 and a 12 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.

Wall Street Analyst Weigh In

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

Cal-Maine Foods Company Profile

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.