The latest trading session saw Core & Main (CNM) ending at $53.02, denoting a +0.65% adjustment from its last day's close. This change outpaced the S&P 500's 0.63% gain on the day. On the other hand, the Dow registered a gain of 0.21%, and the technology-centric Nasdaq increased by 1.52%.
Shares of the distributor of water and fire protection products have appreciated by 3.38% over the course of the past month, outperforming the Industrial Products sector's loss of 1.32% and the S&P 500's loss of 0.7%.
The investment community will be paying close attention to the earnings performance of Core & Main in its upcoming release. The company is forecasted to report an EPS of $0.52, showcasing a 6.12% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.83 billion, indicating a 5.25% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.43 per share and a revenue of $7.71 billion, signifying shifts of +14.08% and +3.66%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Core & Main. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.69% higher. Core & Main is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Core & Main currently has a Forward P/E ratio of 21.68. This expresses a premium compared to the average Forward P/E of 17.2 of its industry.
We can additionally observe that CNM currently boasts a PEG ratio of 1.99. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Manufacturing - Tools & Related Products industry had an average PEG ratio of 1.32 as trading concluded yesterday.
The Manufacturing - Tools & Related Products industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 188, finds itself in the bottom 24% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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