Cal-Maine Foods (CALM) Announces Quarterly Earnings Results, Misses Expectations By $-0.14 EPS

Cal-Maine Foods (CALM) announced its quarterly earnings results on Wednesday, Dec-23-2015. The company reported $2.26 Earnings Per Share for the quarter, missing the analyst consensus estimate by $-0.14. Analyst had a consensus of $2.40 EPS. The company had revenue of $546.00 million for the quarter, compared to analysts expectations of $555.05 million.The company’s revenue was up 44.2% compared to the same quarter last year. During the same quarter in the previous year, Cal-Maine Foods posted $0.76 EPS.

Shares of Cal-Maine Foods, Inc. (NASDAQ:CALM) ended Thursday session in red amid volatile trading. The shares closed down 1.38 points or 2.87% at $46.78 with 897,040 shares getting traded. Post opening the session at $48.11, the shares hit an intraday low of $46.1 and an intraday high of $48.12 and the price vacillated in this range throughout the day. The company has a market cap of $2,269 million and the number of outstanding shares has been calculated to be 48,497,844 shares. The 52-week high of Cal-Maine Foods, Inc. (NASDAQ:CALM) is $63.25 and the 52-week low is $34.03.

Cal-Maine Foods, Inc. (NASDAQ:CALM) has received a sell rating for the short term, according to the latest rank of 4 from research firm, Zacks. The company received an average rating of 2 from 2 analysts. 1 have rated it as a strong buy. 1 analysts have rated the company at hold.

Cal-Maine Foods, Inc. (NASDAQ:CALM) shares are expected to touch $62 in the short term. This short term price target has been shared by 2 analysts. However, the standard deviation of short term price estimate has been valued at 4.24. The target price could hit $65 on the higher end and $59 on the lower end.

Cal-Maine Foods, Inc. has lost 2.44% in the last five trading days and dropped 14.04% in the last 4 weeks. Cal-Maine Foods, Inc. has dropped 14.65% during the last 3-month period . Year-to-Date the stock performance stands at 24.45%.

Cal-Maine Foods, Inc., is a producer and marketer of shell eggs in the United States. Its primary business is the production, grading, packaging, marketing and distribution of shell eggs. It sells most of its shell eggs in the southwestern, southeastern, mid-western and mid-Atlantic regions of the United States. The Company markets its shell eggs through its distribution network to a group of customers, including national and regional grocery store chains, club stores, foodservice distributors and egg product manufacturers. It sells shell eggs to a majority of the food retailers in the United States. In March 2014, the Company acquired 50% interests of Delta Egg Farm, LLC from Sunbest Foods of Iowa, Inc., a Moark, LLC affiliate, as result Delta Egg Farm, LLC, is a wholly owned subsidiary of the Company. In September 2014, Cal-Maine Foods Inc announces joint venture’s acquisition of franchise for Specialty Eggs Sales in Southern California and Nevada.