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Core & Main (CNM) Stock Moves -0.32%: What You Should Know
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Core & Main (CNM - Free Report) ended the recent trading session at $49.66, demonstrating a -0.32% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 0.47%. At the same time, the Dow added 0.37%, and the tech-heavy Nasdaq lost 1.35%.
Prior to today's trading, shares of the distributor of water and fire protection products had lost 11.12% over the past month. This has lagged the Industrial Products sector's loss of 8.18% and the S&P 500's loss of 1.78% in that time.
Market participants will be closely following the financial results of Core & Main in its upcoming release. On that day, Core & Main is projected to report earnings of $0.36 per share, which would represent year-over-year growth of 5.88%. In the meantime, our current consensus estimate forecasts the revenue to be $1.68 billion, indicating a 16.67% growth compared to the corresponding quarter of the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Core & Main. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Core & Main boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Core & Main has a Forward P/E ratio of 20.73 right now. This represents a premium compared to its industry's average Forward P/E of 18.94.
We can additionally observe that CNM currently boasts a PEG ratio of 2.48. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Manufacturing - Tools & Related Products was holding an average PEG ratio of 1.38 at yesterday's closing price.
The Manufacturing - Tools & Related Products industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 81, finds itself in the top 33% echelons 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.
To follow CNM in the coming trading sessions, be sure to utilize Zacks.com.
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Core & Main (CNM) Stock Moves -0.32%: What You Should Know
Core & Main (CNM - Free Report) ended the recent trading session at $49.66, demonstrating a -0.32% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 0.47%. At the same time, the Dow added 0.37%, and the tech-heavy Nasdaq lost 1.35%.
Prior to today's trading, shares of the distributor of water and fire protection products had lost 11.12% over the past month. This has lagged the Industrial Products sector's loss of 8.18% and the S&P 500's loss of 1.78% in that time.
Market participants will be closely following the financial results of Core & Main in its upcoming release. On that day, Core & Main is projected to report earnings of $0.36 per share, which would represent year-over-year growth of 5.88%. In the meantime, our current consensus estimate forecasts the revenue to be $1.68 billion, indicating a 16.67% growth compared to the corresponding quarter of the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Core & Main. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Core & Main boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Core & Main has a Forward P/E ratio of 20.73 right now. This represents a premium compared to its industry's average Forward P/E of 18.94.
We can additionally observe that CNM currently boasts a PEG ratio of 2.48. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Manufacturing - Tools & Related Products was holding an average PEG ratio of 1.38 at yesterday's closing price.
The Manufacturing - Tools & Related Products industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 81, finds itself in the top 33% echelons 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.
To follow CNM in the coming trading sessions, be sure to utilize Zacks.com.