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Core & Main (CNM) Increases Despite Market Slip: Here's What You Need to Know
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Core & Main (CNM - Free Report) closed at $49.61 in the latest trading session, marking a +0.53% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.19%. Elsewhere, the Dow saw an upswing of 0.1%, while the tech-heavy Nasdaq depreciated by 0.54%.
Shares of the distributor of water and fire protection products witnessed a gain of 13.32% over the previous month, beating the performance of the Business Services sector with its gain of 2.68% and the S&P 500's gain of 3.18%.
Market participants will be closely following the financial results of Core & Main in its upcoming release. The company plans to announce its earnings on March 19, 2024. In that report, analysts expect Core & Main to post earnings of $0.34 per share. This would mark year-over-year growth of 9.68%. Meanwhile, our latest consensus estimate is calling for revenue of $1.43 billion, up 4.38% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Core & Main. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Core & Main presently features a Zacks Rank of #3 (Hold).
In the context of valuation, Core & Main is at present trading with a Forward P/E ratio of 20.06. This valuation marks a discount compared to its industry's average Forward P/E of 22.76.
It's also important to note that CNM currently trades at a PEG ratio of 2.35. 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. By the end of yesterday's trading, the Waste Removal Services industry had an average PEG ratio of 3.01.
The Waste Removal Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 161, this industry ranks in the bottom 37% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Core & Main (CNM) Increases Despite Market Slip: Here's What You Need to Know
Core & Main (CNM - Free Report) closed at $49.61 in the latest trading session, marking a +0.53% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.19%. Elsewhere, the Dow saw an upswing of 0.1%, while the tech-heavy Nasdaq depreciated by 0.54%.
Shares of the distributor of water and fire protection products witnessed a gain of 13.32% over the previous month, beating the performance of the Business Services sector with its gain of 2.68% and the S&P 500's gain of 3.18%.
Market participants will be closely following the financial results of Core & Main in its upcoming release. The company plans to announce its earnings on March 19, 2024. In that report, analysts expect Core & Main to post earnings of $0.34 per share. This would mark year-over-year growth of 9.68%. Meanwhile, our latest consensus estimate is calling for revenue of $1.43 billion, up 4.38% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Core & Main. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Core & Main presently features a Zacks Rank of #3 (Hold).
In the context of valuation, Core & Main is at present trading with a Forward P/E ratio of 20.06. This valuation marks a discount compared to its industry's average Forward P/E of 22.76.
It's also important to note that CNM currently trades at a PEG ratio of 2.35. 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. By the end of yesterday's trading, the Waste Removal Services industry had an average PEG ratio of 3.01.
The Waste Removal Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 161, this industry ranks in the bottom 37% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.