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) Ascends While Market Falls: Some Facts to Note
Read MoreHide Full Article
Core & Main (CNM - Free Report) closed the most recent trading day at $43.58, moving +0.76% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 0.28%. Elsewhere, the Dow saw a downswing of 0.61%, while the tech-heavy Nasdaq depreciated by 0.33%.
Coming into today, shares of the distributor of water and fire protection products had gained 0.51% in the past month. In that same time, the Industrial Products sector lost 0.73%, while the S&P 500 gained 0.41%.
Market participants will be closely following the financial results of Core & Main in its upcoming release. The company is expected to report EPS of $0.65, unchanged from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $2 billion, indicating a 9.51% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.10 per share and revenue of $7.32 billion, which would represent changes of -2.33% and +9.21%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Core & Main. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Core & Main is currently a Zacks Rank #5 (Strong Sell).
With respect to valuation, Core & Main is currently being traded at a Forward P/E ratio of 20.63. This valuation marks a discount compared to its industry's average Forward P/E of 22.66.
It is also worth noting that CNM currently has a PEG ratio of 2.81. 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. The Manufacturing - Tools & Related Products was holding an average PEG ratio of 2.67 at yesterday's closing price.
The Manufacturing - Tools & Related Products industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 247, placing it within the bottom 2% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Core & Main (CNM) Ascends While Market Falls: Some Facts to Note
Core & Main (CNM - Free Report) closed the most recent trading day at $43.58, moving +0.76% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 0.28%. Elsewhere, the Dow saw a downswing of 0.61%, while the tech-heavy Nasdaq depreciated by 0.33%.
Coming into today, shares of the distributor of water and fire protection products had gained 0.51% in the past month. In that same time, the Industrial Products sector lost 0.73%, while the S&P 500 gained 0.41%.
Market participants will be closely following the financial results of Core & Main in its upcoming release. The company is expected to report EPS of $0.65, unchanged from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $2 billion, indicating a 9.51% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.10 per share and revenue of $7.32 billion, which would represent changes of -2.33% and +9.21%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Core & Main. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Core & Main is currently a Zacks Rank #5 (Strong Sell).
With respect to valuation, Core & Main is currently being traded at a Forward P/E ratio of 20.63. This valuation marks a discount compared to its industry's average Forward P/E of 22.66.
It is also worth noting that CNM currently has a PEG ratio of 2.81. 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. The Manufacturing - Tools & Related Products was holding an average PEG ratio of 2.67 at yesterday's closing price.
The Manufacturing - Tools & Related Products industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 247, placing it within the bottom 2% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.