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Why the Market Dipped But Core & Main (CNM) Gained Today
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The most recent trading session ended with Core & Main (CNM - Free Report) standing at $57.04, reflecting a +1.01% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily loss of 0.34%. Meanwhile, the Dow gained 0.23%, and the Nasdaq, a tech-heavy index, lost 0.33%.
Prior to today's trading, shares of the distributor of water and fire protection products had lost 2.25% over the past month. This has was narrower than the Business Services sector's loss of 6.97% and the S&P 500's loss of 4.05% in that time.
The upcoming earnings release of Core & Main will be of great interest to investors. Simultaneously, our latest consensus estimate expects the revenue to be $1.72 billion, showing a 9.34% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.59 per share and a revenue of $7.54 billion, signifying shifts of +20.47% and +12.57%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Core & Main. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.71% upward. As of now, Core & Main holds a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Core & Main is at present trading with a Forward P/E ratio of 21.77. This indicates a discount in contrast to its industry's Forward P/E of 25.59.
Also, we should mention that CNM has a PEG ratio of 1.75. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Waste Removal Services industry had an average PEG ratio of 2.53.
The Waste Removal Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 146, which puts it in the bottom 43% 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 Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Why the Market Dipped But Core & Main (CNM) Gained Today
The most recent trading session ended with Core & Main (CNM - Free Report) standing at $57.04, reflecting a +1.01% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily loss of 0.34%. Meanwhile, the Dow gained 0.23%, and the Nasdaq, a tech-heavy index, lost 0.33%.
Prior to today's trading, shares of the distributor of water and fire protection products had lost 2.25% over the past month. This has was narrower than the Business Services sector's loss of 6.97% and the S&P 500's loss of 4.05% in that time.
The upcoming earnings release of Core & Main will be of great interest to investors. Simultaneously, our latest consensus estimate expects the revenue to be $1.72 billion, showing a 9.34% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.59 per share and a revenue of $7.54 billion, signifying shifts of +20.47% and +12.57%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Core & Main. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.71% upward. As of now, Core & Main holds a Zacks Rank of #1 (Strong Buy).
In the context of valuation, Core & Main is at present trading with a Forward P/E ratio of 21.77. This indicates a discount in contrast to its industry's Forward P/E of 25.59.
Also, we should mention that CNM has a PEG ratio of 1.75. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Waste Removal Services industry had an average PEG ratio of 2.53.
The Waste Removal Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 146, which puts it in the bottom 43% 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 Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.