Cal-Maine Foods (NASDAQ:CALM) Announces Earnings Results, Beats Expectations By $4.59 EPS

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 firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $953.76 million. Cal-Maine Foods had a return on equity of 33.69% and a net margin of 20.39%. The firm’s quarterly revenue was up 101.6% compared to the same quarter last year. During the same quarter last year, the business posted $3.00 EPS.

Cal-Maine Foods Price Performance

Shares of CALM stock opened at $90.33 on Wednesday. Cal-Maine Foods has a 1-year low of $55.15 and a 1-year high of $116.41. The business’s fifty day moving average price is $94.04 and its 200 day moving average price is $95.59. The firm has a market capitalization of $4.43 billion, a PE ratio of 7.03 and a beta of 0.11.

Cal-Maine Foods Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Wednesday, April 30th will be paid a dividend of $3.46 per share. This represents a $13.84 dividend on an annualized basis and a dividend yield of 15.32%. This is an increase from Cal-Maine Foods’s previous quarterly dividend of $1.49. Cal-Maine Foods’s dividend payout ratio is 46.30%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CALM shares. Stephens reaffirmed an “equal weight” rating and issued a $97.00 target price on shares of Cal-Maine Foods in a report on Thursday, March 6th. StockNews.com raised Cal-Maine Foods from a “hold” rating to a “buy” rating in a report on Wednesday, April 2nd.

Insiders Place Their Bets

In other news, Director Letitia Callender Hughes sold 809 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 42,761 shares of the company’s stock, valued at $4,702,427.17. The trade was a 1.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 13.45% of the company’s stock.

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.