Cal-Maine Foods (NASDAQ:CALM – Get Free Report) released its quarterly earnings results on Tuesday. The basic materials company reported $2.32 earnings per share for the quarter, missing the consensus estimate of $2.41 by ($0.09), Briefing.com reports. Cal-Maine Foods had a return on equity of 16.46% and a net margin of 11.94%. The company had revenue of $640.80 million for the quarter, compared to analyst estimates of $652.32 million. During the same quarter last year, the company earned $2.27 EPS. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis.
Cal-Maine Foods Stock Performance
Shares of NASDAQ CALM traded down $0.56 during midday trading on Friday, reaching $70.49. 195,249 shares of the stock were exchanged, compared to its average volume of 636,636. The company has a 50 day simple moving average of $61.29 and a 200 day simple moving average of $58.98. The stock has a market capitalization of $3.46 billion, a P/E ratio of 12.60 and a beta of -0.10. Cal-Maine Foods has a twelve month low of $42.25 and a twelve month high of $71.78.
Cal-Maine Foods Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Monday, August 5th will be issued a $0.77 dividend. The ex-dividend date is Monday, August 5th. This represents a $3.08 dividend on an annualized basis and a yield of 4.37%. Cal-Maine Foods’s payout ratio is 70.74%.
Analyst Ratings Changes
Read Our Latest Stock Analysis on Cal-Maine Foods
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.
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