Core & Main (CNM) ended the recent trading session at $64.83, demonstrating a +1.11% change from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 0.01%. Meanwhile, the Dow experienced a drop of 0.08%, and the technology-dominated Nasdaq saw an increase of 0.03%.
Shares of the distributor of water and fire protection products witnessed a gain of 3.42% over the previous month, beating the performance of the Industrial Products sector with its gain of 0.32%, and underperforming the S&P 500's gain of 3.47%.
The upcoming earnings release of Core & Main will be of great interest to investors. On that day, Core & Main is projected to report earnings of $0.78 per share, which would represent year-over-year growth of 27.87%. Alongside, our most recent consensus estimate is anticipating revenue of $2.11 billion, indicating a 7.54% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.46 per share and a revenue of $7.75 billion, signifying shifts of +15.49% and +4.11%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Core & Main. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Core & Main is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Core & Main is at present trading with a Forward P/E ratio of 26.12. This denotes a premium relative to the industry average Forward P/E of 20.26.
It is also worth noting that CNM currently has a PEG ratio of 1.89. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. CNM's industry had an average PEG ratio of 1.73 as of yesterday's close.
The Manufacturing - Tools & Related Products industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 207, placing it within the bottom 17% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Core & Main, Inc. (CNM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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