DA Davidson Analysts Lower Earnings Estimates for Cal-Maine Foods Inc (CALM)

Cal-Maine Foods Inc (NASDAQ:CALM) – Research analysts at DA Davidson decreased their Q3 2017 earnings per share (EPS) estimates for shares of Cal-Maine Foods in a report issued on Wednesday, according to Zacks Investment Research. DA Davidson analyst E. Gottlieb now expects that the basic materials company will post earnings of $0.16 per share for the quarter, down from their previous estimate of $0.18. DA Davidson currently has a “Buy” rating and a $35.00 price target on the stock. DA Davidson also issued estimates for Cal-Maine Foods’ Q4 2017 earnings at $0.07 EPS, FY2017 earnings at ($0.89) EPS, Q2 2018 earnings at $0.58 EPS, Q3 2018 earnings at $0.74 EPS, Q4 2018 earnings at $0.58 EPS and FY2018 earnings at $2.20 EPS.

Several other research firms have also weighed in on CALM. Zacks Investment Research raised Cal-Maine Foods from a “strong sell” rating to a “buy” rating and set a $44.00 price target on the stock in a research report on Tuesday, February 7th. Goldman Sachs Group Inc lowered their price target on Cal-Maine Foods from $37.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, March 27th. Finally, Vetr lowered Cal-Maine Foods from a “hold” rating to a “sell” rating and set a $43.50 price target on the stock. in a research report on Monday, December 26th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $39.38.

Earnings History and Estimates for Cal-Maine Foods (NASDAQ:CALM)

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Cal-Maine Foods (NASDAQ:CALM) traded up 1.41% during mid-day trading on Friday, reaching $39.55. The company’s stock had a trading volume of 440,512 shares. The company’s market cap is $1.92 billion. Cal-Maine Foods has a 12 month low of $35.10 and a 12 month high of $53.06. The stock’s 50 day moving average is $37.91 and its 200 day moving average is $39.72.

Cal-Maine Foods (NASDAQ:CALM) last posted its quarterly earnings data on Monday, March 27th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.07. The company had revenue of $306.50 million for the quarter, compared to analyst estimates of $331.87 million. Cal-Maine Foods had a return on equity of 1.10% and a net margin of 0.79%. Cal-Maine Foods’s quarterly revenue was down 31.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 EPS.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Garrison Financial Corp raised its position in Cal-Maine Foods by 0.8% in the third quarter. Garrison Financial Corp now owns 57,512 shares of the basic materials company’s stock valued at $2,217,000 after buying an additional 465 shares during the period. Advisors Asset Management Inc. increased its position in shares of Cal-Maine Foods by 17.7% in the third quarter. Advisors Asset Management Inc. now owns 312,319 shares of the basic materials company’s stock valued at $12,037,000 after buying an additional 46,859 shares in the last quarter. BerganKDV Wealth Management LLC acquired a new position in shares of Cal-Maine Foods during the third quarter valued at approximately $1,231,000. James Investment Research Inc. increased its position in shares of Cal-Maine Foods by 7.8% in the third quarter. James Investment Research Inc. now owns 237,882 shares of the basic materials company’s stock valued at $9,168,000 after buying an additional 17,139 shares in the last quarter. Finally, Concert Wealth Management Inc. increased its position in shares of Cal-Maine Foods by 16.7% in the third quarter. Concert Wealth Management Inc. now owns 13,983 shares of the basic materials company’s stock valued at $550,000 after buying an additional 2,003 shares in the last quarter. 56.52% of the stock is currently owned by hedge funds and other institutional investors.

In other Cal-Maine Foods news, Director James E. Poole sold 2,200 shares of the business’s stock in a transaction that occurred on Thursday, January 26th. The stock was sold at an average price of $42.33, for a total transaction of $93,126.00. Following the transaction, the director now owns 6,265 shares of the company’s stock, valued at approximately $265,197.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 33.34% of the stock is owned by insiders.

Cal-Maine Foods Company Profile

Cal-Maine Foods, Inc is a producer and marketer of shell eggs in the United States. The Company operates through the segment of production, grading, packaging, marketing and distribution of shell eggs. It offers shell eggs, including specialty and non-specialty eggs. It classifies cage free, organic and brown eggs as specialty products.

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