NEW YORK (TheStreet) -- Shares of Cal-Maine Foods (CALM) - Get Report were down 7.52% to $39 in pre-market trading on Monday after reporting a wider-than-expected loss and revenue below analysts' estimates for the fiscal 2017 first quarter. 

Before the market open, the Jackson, MS-based egg producer posted a loss of 64 cents per diluted share, while analysts were modeling a loss of 33 cents per share.

Revenue plunged 60.7% year-over year to $239.8 million and missed analysts' projections of $274.6 million. 

Cal-Maine was hurt by a 58% decline in the average customer selling prices of eggs, CEO Dolph Baker said in a statement.

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"As the supply of shell eggs moved higher after the disruptions created by the Avian Influenza outbreak in the spring of 2015, market prices declined," Baker noted. "Retail demand remained favorable; however, lower institutional demand for egg products and reduced egg exports pushed inventory levels higher and created additional pricing pressures."

Specialty egg prices were down 20% from a year ago, and accounted for 47% of egg revenue in the period, Baker added.

Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of B.

Cal-Maine Foods' strengths such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity and reasonable valuation levels outweigh the fact that the company has had sub par growth in net income.

You can view the full analysis from the report here: CALM

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author. 

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