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Core & Main (CNM) Falls More Steeply Than Broader Market: What Investors Need to Know
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In the latest close session, Core & Main (CNM - Free Report) was down 1.16% at $49.38. The stock's performance was behind the S&P 500's daily loss of 0.21%. On the other hand, the Dow registered a loss of 0.07%, and the technology-centric Nasdaq increased by 0.01%.
Shares of the distributor of water and fire protection products have depreciated by 11.92% over the course of the past month, underperforming the Industrial Products sector's loss of 5.55%, and the S&P 500's loss of 2.26%.
Analysts and investors alike will be keeping a close eye on the performance of Core & Main in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.48, marking a 45.45% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $1.59 billion, down 6.29% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $2.93 per share and a revenue of $7.66 billion, demonstrating changes of +37.56% and +2.9%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Core & Main. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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 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, the Zacks Consensus EPS estimate has remained steady. Core & Main currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Core & Main is currently being traded at a Forward P/E ratio of 15.68. This represents a discount compared to its industry average Forward P/E of 18.25.
Investors should also note that CNM has a PEG ratio of 1.78 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. CNM's industry had an average PEG ratio of 1.68 as of yesterday's close.
The Manufacturing - Tools & Related Products industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 72, this industry ranks in the top 30% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Core & Main (CNM) Falls More Steeply Than Broader Market: What Investors Need to Know
In the latest close session, Core & Main (CNM - Free Report) was down 1.16% at $49.38. The stock's performance was behind the S&P 500's daily loss of 0.21%. On the other hand, the Dow registered a loss of 0.07%, and the technology-centric Nasdaq increased by 0.01%.
Shares of the distributor of water and fire protection products have depreciated by 11.92% over the course of the past month, underperforming the Industrial Products sector's loss of 5.55%, and the S&P 500's loss of 2.26%.
Analysts and investors alike will be keeping a close eye on the performance of Core & Main in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.48, marking a 45.45% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $1.59 billion, down 6.29% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $2.93 per share and a revenue of $7.66 billion, demonstrating changes of +37.56% and +2.9%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Core & Main. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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 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, the Zacks Consensus EPS estimate has remained steady. Core & Main currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Core & Main is currently being traded at a Forward P/E ratio of 15.68. This represents a discount compared to its industry average Forward P/E of 18.25.
Investors should also note that CNM has a PEG ratio of 1.78 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. CNM's industry had an average PEG ratio of 1.68 as of yesterday's close.
The Manufacturing - Tools & Related Products industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 72, this industry ranks in the top 30% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.