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Core & Main (CNM) Rises As Market Takes a Dip: Key Facts
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The most recent trading session ended with Core & Main (CNM - Free Report) standing at $49.21, reflecting a +0.49% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily loss of 0.12%. On the other hand, the Dow registered a loss of 0.25%, and the technology-centric Nasdaq decreased by 0.41%.
The the stock of distributor of water and fire protection products has risen by 16.18% in the past month, leading the Business Services sector's gain of 7.65% and the S&P 500's gain of 4.83%.
The investment community will be paying close attention to the earnings performance of Core & Main in its upcoming release. On that day, Core & Main is projected to report earnings of $0.47 per share, which would represent year-over-year growth of 51.61%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.45 billion, up 5.42% from the year-ago period.
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. 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 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Core & Main possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Core & Main is currently exchanging hands at a Forward P/E ratio of 19.91. This signifies a discount in comparison to the average Forward P/E of 24.3 for its industry.
Also, we should mention that CNM has a PEG ratio of 2.28. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. CNM's industry had an average PEG ratio of 3.04 as of yesterday's close.
The Waste Removal Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 192, placing it within the bottom 24% of over 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.
To follow CNM in the coming trading sessions, be sure to utilize Zacks.com.
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Core & Main (CNM) Rises As Market Takes a Dip: Key Facts
The most recent trading session ended with Core & Main (CNM - Free Report) standing at $49.21, reflecting a +0.49% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily loss of 0.12%. On the other hand, the Dow registered a loss of 0.25%, and the technology-centric Nasdaq decreased by 0.41%.
The the stock of distributor of water and fire protection products has risen by 16.18% in the past month, leading the Business Services sector's gain of 7.65% and the S&P 500's gain of 4.83%.
The investment community will be paying close attention to the earnings performance of Core & Main in its upcoming release. On that day, Core & Main is projected to report earnings of $0.47 per share, which would represent year-over-year growth of 51.61%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.45 billion, up 5.42% from the year-ago period.
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. 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 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Core & Main possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Core & Main is currently exchanging hands at a Forward P/E ratio of 19.91. This signifies a discount in comparison to the average Forward P/E of 24.3 for its industry.
Also, we should mention that CNM has a PEG ratio of 2.28. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. CNM's industry had an average PEG ratio of 3.04 as of yesterday's close.
The Waste Removal Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 192, placing it within the bottom 24% of over 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.
To follow CNM in the coming trading sessions, be sure to utilize Zacks.com.