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Core & Main (CNM) Suffers a Larger Drop Than the General Market: Key Insights
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Core & Main (CNM - Free Report) closed at $49.25 in the latest trading session, marking a -3.45% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 2.71%. Elsewhere, the Dow saw a downswing of 1.9%, while the tech-heavy Nasdaq depreciated by 3.56%.
Prior to today's trading, shares of the distributor of water and fire protection products had gained 3.15% outpaced the Industrial Products sector's gain of 1.97% and lagged the S&P 500's gain of 3.5%.
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 $0.72 per share. This would mark year-over-year growth of 4.35%. Meanwhile, our latest consensus estimate is calling for revenue of $2.08 billion, up 2.03% from the prior-year quarter.
CNM's full-year Zacks Consensus Estimates are calling for earnings of $2.24 per share and revenue of $7.67 billion. These results would represent year-over-year changes of +5.16% and +3.02%, respectively.
Any recent changes to analyst estimates for Core & Main should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 last 30 days, the Zacks Consensus EPS estimate has moved 6.63% lower. Core & Main is currently a Zacks Rank #4 (Sell).
In terms of valuation, Core & Main is presently being traded at a Forward P/E ratio of 22.74. For comparison, its industry has an average Forward P/E of 19.83, which means Core & Main is trading at a premium to the group.
Meanwhile, CNM's PEG ratio is currently 2. 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 average PEG ratio for the Manufacturing - Tools & Related Products industry stood at 1.62 at the close of the market yesterday.
The Manufacturing - Tools & Related Products industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 67, finds itself in the top 28% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the 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.
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Core & Main (CNM) Suffers a Larger Drop Than the General Market: Key Insights
Core & Main (CNM - Free Report) closed at $49.25 in the latest trading session, marking a -3.45% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 2.71%. Elsewhere, the Dow saw a downswing of 1.9%, while the tech-heavy Nasdaq depreciated by 3.56%.
Prior to today's trading, shares of the distributor of water and fire protection products had gained 3.15% outpaced the Industrial Products sector's gain of 1.97% and lagged the S&P 500's gain of 3.5%.
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 $0.72 per share. This would mark year-over-year growth of 4.35%. Meanwhile, our latest consensus estimate is calling for revenue of $2.08 billion, up 2.03% from the prior-year quarter.
CNM's full-year Zacks Consensus Estimates are calling for earnings of $2.24 per share and revenue of $7.67 billion. These results would represent year-over-year changes of +5.16% and +3.02%, respectively.
Any recent changes to analyst estimates for Core & Main should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 last 30 days, the Zacks Consensus EPS estimate has moved 6.63% lower. Core & Main is currently a Zacks Rank #4 (Sell).
In terms of valuation, Core & Main is presently being traded at a Forward P/E ratio of 22.74. For comparison, its industry has an average Forward P/E of 19.83, which means Core & Main is trading at a premium to the group.
Meanwhile, CNM's PEG ratio is currently 2. 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 average PEG ratio for the Manufacturing - Tools & Related Products industry stood at 1.62 at the close of the market yesterday.
The Manufacturing - Tools & Related Products industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 67, finds itself in the top 28% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the 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.