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Core & Main (CNM) Outpaces Stock Market Gains: What You Should Know
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The most recent trading session ended with Core & Main (CNM - Free Report) standing at $42.06, reflecting a +1.82% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a gain of 1.25% for the day. Elsewhere, the Dow saw an upswing of 0.97%, while the tech-heavy Nasdaq appreciated by 1.3%.
Shares of the distributor of water and fire protection products have appreciated by 5.6% over the course of the past month, outperforming the Business Services sector's gain of 0.44% and the S&P 500's gain of 1.58%.
The investment community will be closely monitoring the performance of Core & Main in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.68, reflecting a 119.35% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.45 billion, up 5.42% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Core & Main. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.14% higher. As of now, Core & Main holds a Zacks Rank of #3 (Hold).
Investors should also note Core & Main's current valuation metrics, including its Forward P/E ratio of 17.96. This denotes a discount relative to the industry's average Forward P/E of 21.74.
We can additionally observe that CNM currently boasts a PEG ratio of 2.06. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Waste Removal Services industry had an average PEG ratio of 2.78 as trading concluded yesterday.
The Waste Removal Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 100, this industry ranks in the top 40% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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) Outpaces Stock Market Gains: What You Should Know
The most recent trading session ended with Core & Main (CNM - Free Report) standing at $42.06, reflecting a +1.82% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a gain of 1.25% for the day. Elsewhere, the Dow saw an upswing of 0.97%, while the tech-heavy Nasdaq appreciated by 1.3%.
Shares of the distributor of water and fire protection products have appreciated by 5.6% over the course of the past month, outperforming the Business Services sector's gain of 0.44% and the S&P 500's gain of 1.58%.
The investment community will be closely monitoring the performance of Core & Main in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $0.68, reflecting a 119.35% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.45 billion, up 5.42% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for Core & Main. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Over the past month, the Zacks Consensus EPS estimate has moved 3.14% higher. As of now, Core & Main holds a Zacks Rank of #3 (Hold).
Investors should also note Core & Main's current valuation metrics, including its Forward P/E ratio of 17.96. This denotes a discount relative to the industry's average Forward P/E of 21.74.
We can additionally observe that CNM currently boasts a PEG ratio of 2.06. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Waste Removal Services industry had an average PEG ratio of 2.78 as trading concluded yesterday.
The Waste Removal Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 100, this industry ranks in the top 40% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.