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) Stock Sinks As Market Gains: What You Should Know
Read MoreHide Full Article
Core & Main (CNM - Free Report) closed the most recent trading day at $47.10, moving -0.93% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.57%. Elsewhere, the Dow saw an upswing of 0.28%, while the tech-heavy Nasdaq appreciated by 0.63%.
Shares of the distributor of water and fire protection products witnessed a gain of 5.08% over the previous month, trailing the performance of the Industrial Products sector with its gain of 10.14% and outperforming the S&P 500's gain of 3.15%.
Analysts and investors alike will be keeping a close eye on the performance of Core & Main in its upcoming earnings disclosure. The company's earnings report is set to go public on December 3, 2024. The company is expected to report EPS of $0.65, unchanged from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $2 billion, indicating a 9.51% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $2.10 per share and a revenue of $7.32 billion, demonstrating changes of -2.33% and +9.21%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Core & Main. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Core & Main is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Core & Main is at present trading with a Forward P/E ratio of 22.67. Its industry sports an average Forward P/E of 22.48, so one might conclude that Core & Main is trading at a premium comparatively.
Also, we should mention that CNM has a PEG ratio of 3.09. 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 2.49 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 205, putting it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Core & Main (CNM) Stock Sinks As Market Gains: What You Should Know
Core & Main (CNM - Free Report) closed the most recent trading day at $47.10, moving -0.93% from the previous trading session. The stock's change was less than the S&P 500's daily gain of 0.57%. Elsewhere, the Dow saw an upswing of 0.28%, while the tech-heavy Nasdaq appreciated by 0.63%.
Shares of the distributor of water and fire protection products witnessed a gain of 5.08% over the previous month, trailing the performance of the Industrial Products sector with its gain of 10.14% and outperforming the S&P 500's gain of 3.15%.
Analysts and investors alike will be keeping a close eye on the performance of Core & Main in its upcoming earnings disclosure. The company's earnings report is set to go public on December 3, 2024. The company is expected to report EPS of $0.65, unchanged from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $2 billion, indicating a 9.51% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $2.10 per share and a revenue of $7.32 billion, demonstrating changes of -2.33% and +9.21%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Core & Main. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Core & Main is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Core & Main is at present trading with a Forward P/E ratio of 22.67. Its industry sports an average Forward P/E of 22.48, so one might conclude that Core & Main is trading at a premium comparatively.
Also, we should mention that CNM has a PEG ratio of 3.09. 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 2.49 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 205, putting it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.