20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
- Stephens analyst Ben Bienvenu has reiterated an Overweight rating on Cal-Maine Foods, Inc. (NASDAQ:CALM) with a target price of $67.00. The analyst's estimates/PT are under review.
- The company reported a 2Q23 adjusted EPS of $4.07 versus the consensus of $4.24.
- The EPS miss versus the estimate was driven by lower gross profit, partially offset by lower SG&A expense.
- Feed costs were essentially in line with the expectations, while other costs like processing/packaging were higher, the analyst added.
- While the company missed headline numbers, there continues to likely be positive momentum for estimates, Bienvenu noted.
- The analyst said the debate on how large cash flow will grow hinges on how long the current HPAI dynamic persists and how well demand holds up at these higher prices in the market.
- Specialty egg volumes accounted for 33.8% of revenue. Overall farm production costs per dozen were up 29.7%.
- Also Read: Cal-Maine Foods Stock Is Getting Fried Today: What's Going On?
- Price Action: CALM shares are trading lower by 14.34% at $53.27 on the last check Thursday.
- Photo Via Company
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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