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Core & Main (CNM) Increases Despite Market Slip: Here's What You Need to Know

Core & Main (CNM) ended the recent trading session at $44.75, demonstrating a +0.4% swing from the preceding day's closing price. The stock outpaced the S&P 500's daily loss of 0.6%. At the same time, the Dow lost 0.17%, and the tech-heavy Nasdaq lost 0.92%.

Prior to today's trading, shares of the distributor of water and fire protection products had gained 6.63% over the past month. This has outpaced the Business Services sector's gain of 6.58% and the S&P 500's gain of 3.56% in that time.

Analysts and investors alike will be keeping a close eye on the performance of Core & Main in its upcoming earnings disclosure. In that report, analysts expect Core & Main to post earnings of $0.47 per share. This would mark year-over-year growth of 51.61%. At the same time, our most recent consensus estimate is projecting a revenue of $1.45 billion, reflecting a 5.42% rise from the equivalent quarter last year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Core & Main. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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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.

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, there's been no change in the Zacks Consensus EPS estimate. Core & Main is holding a Zacks Rank of #3 (Hold) right now.

Valuation is also important, so investors should note that Core & Main has a Forward P/E ratio of 18.12 right now. This denotes a discount relative to the industry's average Forward P/E of 23.37.

Investors should also note that CNM has a PEG ratio of 2.07 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. Waste Removal Services stocks are, on average, holding a PEG ratio of 2.91 based on yesterday's closing prices.

The Waste Removal Services industry is part of the Business Services sector. This industry, currently bearing a Zacks Industry Rank of 181, finds itself in the bottom 29% echelons of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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, Inc. (CNM) : Free Stock Analysis Report

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