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Core & Main (CNM) Increases Despite Market Slip: Here's What You Need to Know

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The most recent trading session ended with Core & Main (CNM - Free Report) standing at $35.02, reflecting a +0.2% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily loss of 0.2%. Elsewhere, the Dow lost 0.16%, while the tech-heavy Nasdaq lost 0.07%.

The distributor of water and fire protection products's shares have seen an increase of 18.76% over the last month, surpassing the Business Services sector's gain of 8.93% and the S&P 500's gain of 7.49%.

Analysts and investors alike will be keeping a close eye on the performance of Core & Main in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.68, marking a 4.62% rise compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.87 billion, up 2.89% from the year-ago period.

CNM's full-year Zacks Consensus Estimates are calling for earnings of $2.11 per share and revenue of $6.85 billion. These results would represent year-over-year changes of -0.94% and +2.95%, respectively.

Investors should also take note of any recent adjustments to analyst estimates for Core & Main. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. Within the past 30 days, our consensus EPS projection has moved 5.35% higher. Currently, Core & Main is carrying a Zacks Rank of #1 (Strong Buy).

Looking at its valuation, Core & Main is holding a Forward P/E ratio of 16.6. This expresses a discount compared to the average Forward P/E of 25.13 of its industry.

We can additionally observe that CNM currently boasts a PEG ratio of 2.65. 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 2.91 as of yesterday's close.

The Waste Removal Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 85, which puts it in the top 34% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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 to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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