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Core & Main (CNM) Stock Drops Despite Market Gains: Important Facts to Note
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Core & Main (CNM - Free Report) closed the latest trading day at $47.53, indicating a -0.65% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 1.04% for the day. Meanwhile, the Dow experienced a rise of 0.76%, and the technology-dominated Nasdaq saw an increase of 1.03%.
Prior to today's trading, shares of the distributor of water and fire protection products had lost 3.8% over the past month. This has was narrower than the Business Services sector's loss of 5.54% and the S&P 500's loss of 6.74% in that time.
Market participants will be closely following the financial results of Core & Main in its upcoming release. The company's earnings per share (EPS) are projected to be $0.73, reflecting a 10.61% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $2.03 billion, showing a 9.04% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.32 per share and revenue of $7.47 billion, which would represent changes of +7.91% and +11.42%, respectively, from the prior year.
Any recent changes to analyst estimates for Core & Main should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection remained stagnant. At present, Core & Main boasts a Zacks Rank of #4 (Sell).
In terms of valuation, Core & Main is currently trading at a Forward P/E ratio of 20.59. For comparison, its industry has an average Forward P/E of 25.46, which means Core & Main is trading at a discount to the group.
Also, we should mention that CNM has a PEG ratio of 1.81. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Waste Removal Services industry stood at 2.53 at the close of the market yesterday.
The Waste Removal Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 162, which puts it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Core & Main (CNM) Stock Drops Despite Market Gains: Important Facts to Note
Core & Main (CNM - Free Report) closed the latest trading day at $47.53, indicating a -0.65% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 1.04% for the day. Meanwhile, the Dow experienced a rise of 0.76%, and the technology-dominated Nasdaq saw an increase of 1.03%.
Prior to today's trading, shares of the distributor of water and fire protection products had lost 3.8% over the past month. This has was narrower than the Business Services sector's loss of 5.54% and the S&P 500's loss of 6.74% in that time.
Market participants will be closely following the financial results of Core & Main in its upcoming release. The company's earnings per share (EPS) are projected to be $0.73, reflecting a 10.61% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $2.03 billion, showing a 9.04% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.32 per share and revenue of $7.47 billion, which would represent changes of +7.91% and +11.42%, respectively, from the prior year.
Any recent changes to analyst estimates for Core & Main should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection remained stagnant. At present, Core & Main boasts a Zacks Rank of #4 (Sell).
In terms of valuation, Core & Main is currently trading at a Forward P/E ratio of 20.59. For comparison, its industry has an average Forward P/E of 25.46, which means Core & Main is trading at a discount to the group.
Also, we should mention that CNM has a PEG ratio of 1.81. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Waste Removal Services industry stood at 2.53 at the close of the market yesterday.
The Waste Removal Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 162, which puts it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.