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Core & Main (CNM) Gains But Lags Market: What You Should Know
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Core & Main (CNM - Free Report) closed at $31.43 in the latest trading session, marking a +0.13% move from the prior day. The stock lagged the S&P 500's daily gain of 0.63%. Elsewhere, the Dow gained 0.62%, while the tech-heavy Nasdaq added 0.84%.
Coming into today, shares of the distributor of water and fire protection products had lost 2.91% in the past month. In that same time, the Business Services sector lost 3.44%, while the S&P 500 lost 3.37%.
Wall Street will be looking for positivity from Core & Main as it approaches its next earnings report date. This is expected to be September 6, 2023. On that day, Core & Main is projected to report earnings of $0.65 per share, which would represent a year-over-year decline of 26.97%. Our most recent consensus estimate is calling for quarterly revenue of $1.86 billion, down 0.15% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.82 per share and revenue of $6.77 billion. These totals would mark changes of -14.55% and +1.82%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Core & Main. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Core & Main is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Core & Main is currently trading at a Forward P/E ratio of 17.25. Its industry sports an average Forward P/E of 23.42, so we one might conclude that Core & Main is trading at a discount comparatively.
The Waste Removal Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 188, which puts it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CNM in the coming trading sessions, be sure to utilize Zacks.com.
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Core & Main (CNM) Gains But Lags Market: What You Should Know
Core & Main (CNM - Free Report) closed at $31.43 in the latest trading session, marking a +0.13% move from the prior day. The stock lagged the S&P 500's daily gain of 0.63%. Elsewhere, the Dow gained 0.62%, while the tech-heavy Nasdaq added 0.84%.
Coming into today, shares of the distributor of water and fire protection products had lost 2.91% in the past month. In that same time, the Business Services sector lost 3.44%, while the S&P 500 lost 3.37%.
Wall Street will be looking for positivity from Core & Main as it approaches its next earnings report date. This is expected to be September 6, 2023. On that day, Core & Main is projected to report earnings of $0.65 per share, which would represent a year-over-year decline of 26.97%. Our most recent consensus estimate is calling for quarterly revenue of $1.86 billion, down 0.15% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.82 per share and revenue of $6.77 billion. These totals would mark changes of -14.55% and +1.82%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Core & Main. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Core & Main is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Core & Main is currently trading at a Forward P/E ratio of 17.25. Its industry sports an average Forward P/E of 23.42, so we one might conclude that Core & Main is trading at a discount comparatively.
The Waste Removal Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 188, which puts it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CNM in the coming trading sessions, be sure to utilize Zacks.com.