Cal-Maine Foods (CALM) Stock Declined Today on Weak Earnings
NEW YORK (TheStreet) -- Cal-Maine Foods (CALM) - Get Report shares closed trading down 1.79% to $38.38 following the release of the shell egg producer's third quarter financial results before the opening bell today.
The Jackson, MS-based company reported third quarter earnings per share of $1.05 per diluted share, an 18% increase over the same period last year, on revenue of $437.6 million that increased by 10.6% over the same period last year as food sales grew by double digits during the quarter.
Analysts on average were expecting the company to report earnings of $1.18 per share on revenue of $410.7 million.
Shares are rising in after-hours trading today however, up 1.45% to $38.94.
TheStreet Ratings team rates CAL-MAINE FOODS INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate CAL-MAINE FOODS INC (CALM) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company shows low profit margins."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: CALM Ratings Report
data by