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Core & Main (CNM) Stock Moves -0.77%: What You Should Know

Core & Main (CNM) closed the most recent trading day at $54.17, moving -0.77% from the previous trading session. This move was narrower than the S&P 500's daily loss of 0.88%. Meanwhile, the Dow experienced a rise of 0.56%, and the technology-dominated Nasdaq saw a decrease of 2.05%.

Shares of the distributor of water and fire protection products witnessed a loss of 5.68% over the previous month, beating the performance of the Business Services sector with its loss of 6.12% and underperforming the S&P 500's loss of 2.57%.

Analysts and investors alike will be keeping a close eye on the performance of Core & Main in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.51, marking a 2% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $1.72 billion, up 9.34% from the year-ago period.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.59 per share and revenue of $7.54 billion, indicating changes of +20.47% and +12.57%, respectively, compared to the previous year.

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It is also important to note the recent changes to analyst estimates for Core & Main. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 5.42% higher within the past month. Core & Main is currently sporting a Zacks Rank of #1 (Strong Buy).

With respect to valuation, Core & Main is currently being traded at a Forward P/E ratio of 21.05. This denotes a discount relative to the industry's average Forward P/E of 25.85.

We can also see that CNM currently has a PEG ratio of 1.69. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Waste Removal Services was holding an average PEG ratio of 2.67 at yesterday's closing price.

The Waste Removal Services industry is part of the Business Services sector. With its current Zacks Industry Rank of 96, this industry ranks in the top 39% of all industries, numbering over 250.

The Zacks Industry Rank gauges the strength of our 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.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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Core & Main, Inc. (CNM) : Free Stock Analysis Report

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Zacks Investment Research