We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Core & Main (CNM) Surges 10.4%: Is This an Indication of Further Gains?
Read MoreHide Full Article
Core & Main, Inc. (CNM - Free Report) shares ended the last trading session 10.4% higher at $59.09. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0.4% gain over the past four weeks.
Core & Main’s rally is largely driven by optimism over rising customer demand for storm drainage products and pipes, valves & fittings. Innovation capabilities and operational initiatives bode well for the company. Also, Core & Main made the Fortune 500 list for the first time at No. 497, reflecting its rapid growth and success in providing essential water infrastructure products.
This distributor of water and fire protection products is expected to post quarterly earnings of $0.52 per share in its upcoming report, which represents a year-over-year change of +6.1%. Revenues are expected to be $1.83 billion, up 5.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Core & Main, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CNM going forward to see if this recent jump can turn into more strength down the road.
Core & Main is part of the Zacks Manufacturing - Tools & Related Products industry. Sandvik AB (SDVKY - Free Report) , another stock in the same industry, closed the last trading session 1.1% lower at $21.74. SDVKY has returned 4.8% in the past month.
Sandvik's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.36. Compared to the company's year-ago EPS, this represents a change of +24.1%. Sandvik currently boasts a Zacks Rank of #3 (Hold).
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Core & Main (CNM) Surges 10.4%: Is This an Indication of Further Gains?
Core & Main, Inc. (CNM - Free Report) shares ended the last trading session 10.4% higher at $59.09. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 0.4% gain over the past four weeks.
Core & Main’s rally is largely driven by optimism over rising customer demand for storm drainage products and pipes, valves & fittings. Innovation capabilities and operational initiatives bode well for the company. Also, Core & Main made the Fortune 500 list for the first time at No. 497, reflecting its rapid growth and success in providing essential water infrastructure products.
This distributor of water and fire protection products is expected to post quarterly earnings of $0.52 per share in its upcoming report, which represents a year-over-year change of +6.1%. Revenues are expected to be $1.83 billion, up 5.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Core & Main, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CNM going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Core & Main is part of the Zacks Manufacturing - Tools & Related Products industry. Sandvik AB (SDVKY - Free Report) , another stock in the same industry, closed the last trading session 1.1% lower at $21.74. SDVKY has returned 4.8% in the past month.
Sandvik's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.36. Compared to the company's year-ago EPS, this represents a change of +24.1%. Sandvik currently boasts a Zacks Rank of #3 (Hold).