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Core & Main (CNM) Stock Moves -0.3%: What You Should Know
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Core & Main (CNM - Free Report) closed at $46.55 in the latest trading session, marking a -0.3% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.76%. Elsewhere, the Dow lost 1.14%, while the tech-heavy Nasdaq lost 0.18%.
Prior to today's trading, shares of the distributor of water and fire protection products had lost 14.64% over the past month. This has lagged the Industrial Products sector's loss of 5.76% and the S&P 500's loss of 7.29% in that time.
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 $0.36 per share. This would mark year-over-year growth of 5.88%. Alongside, our most recent consensus estimate is anticipating revenue of $1.68 billion, indicating a 16.67% upward movement from the same quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Core & Main. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 has remained steady. Core & Main currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Core & Main is holding a Forward P/E ratio of 19.43. This signifies a premium in comparison to the average Forward P/E of 18.95 for its industry.
We can also see that CNM currently has a PEG ratio of 2.32. 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. As of the close of trade yesterday, the Manufacturing - Tools & Related Products industry held an average PEG ratio of 1.35.
The Manufacturing - Tools & Related Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% of all 250+ industries.
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) Stock Moves -0.3%: What You Should Know
Core & Main (CNM - Free Report) closed at $46.55 in the latest trading session, marking a -0.3% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.76%. Elsewhere, the Dow lost 1.14%, while the tech-heavy Nasdaq lost 0.18%.
Prior to today's trading, shares of the distributor of water and fire protection products had lost 14.64% over the past month. This has lagged the Industrial Products sector's loss of 5.76% and the S&P 500's loss of 7.29% in that time.
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 $0.36 per share. This would mark year-over-year growth of 5.88%. Alongside, our most recent consensus estimate is anticipating revenue of $1.68 billion, indicating a 16.67% upward movement from the same quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Core & Main. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 has remained steady. Core & Main currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Core & Main is holding a Forward P/E ratio of 19.43. This signifies a premium in comparison to the average Forward P/E of 18.95 for its industry.
We can also see that CNM currently has a PEG ratio of 2.32. 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. As of the close of trade yesterday, the Manufacturing - Tools & Related Products industry held an average PEG ratio of 1.35.
The Manufacturing - Tools & Related Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% of all 250+ industries.
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.