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Core & Main (CNM) Stock Slides as Market Rises: Facts to Know Before You Trade
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In the latest market close, Core & Main (CNM - Free Report) reached $53.49, with a -0.07% movement compared to the previous day. This change lagged the S&P 500's daily gain of 0.08%. Meanwhile, the Dow lost 0.12%, and the Nasdaq, a tech-heavy index, added 0.07%.
Coming into today, shares of the distributor of water and fire protection products had gained 9.38% in the past month. In that same time, the Business Services sector lost 0.96%, while the S&P 500 lost 0.21%.
Investors will be eagerly watching for the performance of Core & Main in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.73, signifying a 10.61% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $2.03 billion, up 9.04% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.32 per share and revenue of $7.47 billion, indicating changes of +7.91% and +11.42%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Core & Main. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Core & Main is currently sporting a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Core & Main is holding a Forward P/E ratio of 23.04. This valuation marks a discount compared to its industry's average Forward P/E of 26.36.
It's also important to note that CNM currently trades at a PEG ratio of 2.02. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Waste Removal Services was holding an average PEG ratio of 2.6 at yesterday's closing price.
The Waste Removal Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 89, placing it within the top 36% of over 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Core & Main (CNM) Stock Slides as Market Rises: Facts to Know Before You Trade
In the latest market close, Core & Main (CNM - Free Report) reached $53.49, with a -0.07% movement compared to the previous day. This change lagged the S&P 500's daily gain of 0.08%. Meanwhile, the Dow lost 0.12%, and the Nasdaq, a tech-heavy index, added 0.07%.
Coming into today, shares of the distributor of water and fire protection products had gained 9.38% in the past month. In that same time, the Business Services sector lost 0.96%, while the S&P 500 lost 0.21%.
Investors will be eagerly watching for the performance of Core & Main in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.73, signifying a 10.61% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $2.03 billion, up 9.04% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.32 per share and revenue of $7.47 billion, indicating changes of +7.91% and +11.42%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Core & Main. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Core & Main is currently sporting a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Core & Main is holding a Forward P/E ratio of 23.04. This valuation marks a discount compared to its industry's average Forward P/E of 26.36.
It's also important to note that CNM currently trades at a PEG ratio of 2.02. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Waste Removal Services was holding an average PEG ratio of 2.6 at yesterday's closing price.
The Waste Removal Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 89, placing it within the top 36% of over 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.