Cal-Maine Foods Adjusted EPS Estimates Slashed Amid Lower Egg Prices: Analyst
Portfolio Pulse from Shivani Kumaresan
Stephens & Co analyst Ben Bienvenu reiterated an Equal Weight rating on Cal-Maine Foods Inc (NASDAQ:CALM) and lowered the price target from $60 to $50. The analyst has lowered Q4 adjusted EPS estimate to $2.12 from $2.85, FY23 adjusted EPS to $15.32 from $16.05, and FY24 adjusted EPS estimate to $4.20 from $4.88 due to lower egg prices and higher feed costs.
June 21, 2023 | 6:31 pm
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Cal-Maine Foods' price target has been lowered from $60 to $50 by Stephens & Co analyst Ben Bienvenu, who also cut EPS estimates for Q4, FY23, and FY24 due to lower egg prices and higher feed costs.
The lowered price target and reduced EPS estimates by the analyst are due to lower egg prices and higher feed costs, which are expected to negatively impact Cal-Maine Foods' earnings and cash flow generation in the short term. This could lead to a decrease in the stock price.
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