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

Cal-Maine Foods (NASDAQ:CALM) released its quarterly earnings results on Tuesday. The basic materials company reported $10.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.79 by $4.59, Briefing.com reports. The company had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $953.76 million. Cal-Maine Foods had a net margin of 20.39% and a return on equity of 33.69%. Cal-Maine Foods’s revenue was up 101.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.00 earnings per share.

Cal-Maine Foods Stock Performance

NASDAQ CALM traded down $3.12 during mid-day trading on Tuesday, reaching $90.33. 2,014,979 shares of the stock were exchanged, compared to its average volume of 683,561. Cal-Maine Foods has a 1 year low of $55.15 and a 1 year high of $116.41. The business’s 50 day moving average is $94.90 and its 200-day moving average is $95.51. The company has a market capitalization of $4.43 billion, a P/E ratio of 7.03 and a beta of 0.11.

Insider Transactions at Cal-Maine Foods

In other Cal-Maine Foods news, Director Letitia Callender Hughes sold 809 shares of the business’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $109.97, for a total transaction of $88,965.73. Following the transaction, the director now owns 42,761 shares of the company’s stock, valued at approximately $4,702,427.17. The trade was a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 13.45% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. StockNews.com raised Cal-Maine Foods from a “hold” rating to a “buy” rating in a research report on Wednesday, April 2nd. Stephens reiterated an “equal weight” rating and issued a $97.00 price target on shares of Cal-Maine Foods in a report on Thursday, March 6th.

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.