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Core & Main (CNM) Stock Declines While Market Improves: Some Information for Investors
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Core & Main (CNM - Free Report) closed the latest trading day at $54.48, indicating a -0.29% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 0.39%. Meanwhile, the Dow gained 0.71%, and the Nasdaq, a tech-heavy index, added 0.2%.
Shares of the distributor of water and fire protection products witnessed a gain of 7.43% over the previous month, beating the performance of the Industrial Products sector with its gain of 1.89% and the S&P 500's gain of 1.7%.
Market participants will be closely following the financial results of Core & Main in its upcoming release. In that report, analysts expect Core & Main to post earnings of $0.36 per share. This would mark year-over-year growth of 5.88%. At the same time, our most recent consensus estimate is projecting a revenue of $1.68 billion, reflecting a 16.67% rise from the equivalent quarter 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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Core & Main is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Core & Main is holding a Forward P/E ratio of 22.74. This indicates a premium in contrast to its industry's Forward P/E of 18.02.
Meanwhile, CNM's PEG ratio is currently 2.72. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Manufacturing - Tools & Related Products was holding an average PEG ratio of 1.64 at yesterday's closing price.
The Manufacturing - Tools & Related Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 86, putting it in the top 35% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
View the Zacks #1 Rank List
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Core & Main (CNM) Stock Declines While Market Improves: Some Information for Investors
Core & Main (CNM - Free Report) closed the latest trading day at $54.48, indicating a -0.29% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 0.39%. Meanwhile, the Dow gained 0.71%, and the Nasdaq, a tech-heavy index, added 0.2%.
Shares of the distributor of water and fire protection products witnessed a gain of 7.43% over the previous month, beating the performance of the Industrial Products sector with its gain of 1.89% and the S&P 500's gain of 1.7%.
Market participants will be closely following the financial results of Core & Main in its upcoming release. In that report, analysts expect Core & Main to post earnings of $0.36 per share. This would mark year-over-year growth of 5.88%. At the same time, our most recent consensus estimate is projecting a revenue of $1.68 billion, reflecting a 16.67% rise from the equivalent quarter 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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Core & Main is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Core & Main is holding a Forward P/E ratio of 22.74. This indicates a premium in contrast to its industry's Forward P/E of 18.02.
Meanwhile, CNM's PEG ratio is currently 2.72. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Manufacturing - Tools & Related Products was holding an average PEG ratio of 1.64 at yesterday's closing price.
The Manufacturing - Tools & Related Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 86, putting it in the top 35% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.