Core & Main (CNM) closed at $42.33 in the latest trading session, marking a +2.17% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 1.21%. Elsewhere, the Dow saw an upswing of 0.02%, while the tech-heavy Nasdaq depreciated by 2.6%.
Shares of the distributor of water and fire protection products have depreciated by 3.11% over the course of the past month, underperforming the Industrial Products sector's loss of 2.24%, and the S&P 500's loss of 0.03%.
Analysts and investors alike will be keeping a close eye on the performance of Core & Main in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.92, showcasing a 27.78% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $2.15 billion, showing a 4.1% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.09 per share and a revenue of $7.85 billion, indicating changes of +4.04% and +2.7%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Core & Main. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% 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 #5 (Strong Sell) right now.
Looking at its valuation, Core & Main is holding a Forward P/E ratio of 13.39. This expresses a discount compared to the average Forward P/E of 17.17 of its industry.
We can additionally observe that CNM currently boasts a PEG ratio of 1.68. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Manufacturing - Tools & Related Products industry currently had an average PEG ratio of 1.41 as of yesterday's close.
The Manufacturing - Tools & Related Products industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 76, finds itself in the top 31% echelons 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Core & Main, Inc. (CNM): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).