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Core & Main (CNM) Gains As Market Dips: What You Should Know
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Core & Main (CNM - Free Report) closed the most recent trading day at $51.67, moving +1.1% from the previous trading session. The stock's change was more than the S&P 500's daily loss of 0.78%. Elsewhere, the Dow saw a downswing of 1.29%, while the tech-heavy Nasdaq depreciated by 0.7%.
Prior to today's trading, shares of the distributor of water and fire protection products had lost 1.18% over the past month. This has lagged the Business Services sector's loss of 1.09% and the S&P 500's gain of 2.14% in that time.
Investors will be eagerly watching for the performance of Core & Main in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.73, indicating a 10.61% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $2.03 billion, indicating a 9.04% growth compared to the corresponding quarter of the prior year.
CNM's full-year Zacks Consensus Estimates are calling for earnings of $2.32 per share and revenue of $7.47 billion. These results would represent year-over-year changes of +7.91% and +11.42%, respectively.
Investors should also note any recent changes to analyst estimates for Core & Main. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 5.81% lower. Core & Main is currently sporting a Zacks Rank of #5 (Strong Sell).
With respect to valuation, Core & Main is currently being traded at a Forward P/E ratio of 22. Its industry sports an average Forward P/E of 29.54, so one might conclude that Core & Main is trading at a discount comparatively.
One should further note that CNM currently holds a PEG ratio of 1.93. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Waste Removal Services industry currently had an average PEG ratio of 2.81 as of yesterday's close.
The Waste Removal Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 96, positioning it in the top 39% of all 250+ industries.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Core & Main (CNM) Gains As Market Dips: What You Should Know
Core & Main (CNM - Free Report) closed the most recent trading day at $51.67, moving +1.1% from the previous trading session. The stock's change was more than the S&P 500's daily loss of 0.78%. Elsewhere, the Dow saw a downswing of 1.29%, while the tech-heavy Nasdaq depreciated by 0.7%.
Prior to today's trading, shares of the distributor of water and fire protection products had lost 1.18% over the past month. This has lagged the Business Services sector's loss of 1.09% and the S&P 500's gain of 2.14% in that time.
Investors will be eagerly watching for the performance of Core & Main in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.73, indicating a 10.61% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $2.03 billion, indicating a 9.04% growth compared to the corresponding quarter of the prior year.
CNM's full-year Zacks Consensus Estimates are calling for earnings of $2.32 per share and revenue of $7.47 billion. These results would represent year-over-year changes of +7.91% and +11.42%, respectively.
Investors should also note any recent changes to analyst estimates for Core & Main. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 5.81% lower. Core & Main is currently sporting a Zacks Rank of #5 (Strong Sell).
With respect to valuation, Core & Main is currently being traded at a Forward P/E ratio of 22. Its industry sports an average Forward P/E of 29.54, so one might conclude that Core & Main is trading at a discount comparatively.
One should further note that CNM currently holds a PEG ratio of 1.93. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Waste Removal Services industry currently had an average PEG ratio of 2.81 as of yesterday's close.
The Waste Removal Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 96, positioning it in the top 39% of all 250+ industries.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.