Core & Main (CNM) closed at $44.66 in the latest trading session, marking a -1.24% move from the prior day. This move lagged the S&P 500's daily gain of 0.38%. On the other hand, the Dow registered a gain of 0.29%, and the technology-centric Nasdaq increased by 0.62%.
Coming into today, shares of the distributor of water and fire protection products had lost 5.34% in the past month. In that same time, the Industrial Products sector gained 0.99%, while the S&P 500 gained 1.61%.
Investors will be eagerly watching for the performance of Core & Main in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.94, showcasing a 8.05% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $2.14 billion, up 2.42% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $3.13 per share and a revenue of $7.89 billion, demonstrating changes of +5.39% and +3.12%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Core & Main. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
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. Core & Main currently has a Zacks Rank of #2 (Buy).
Digging into valuation, Core & Main currently has a Forward P/E ratio of 14.45. This indicates a discount in contrast to its industry's Forward P/E of 17.31.
Meanwhile, CNM's PEG ratio is currently 1.53. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Manufacturing - Tools & Related Products industry had an average PEG ratio of 1.22.
The Manufacturing - Tools & Related Products industry is part of the Industrial Products sector. At present, this industry carries a Zacks Industry Rank of 107, placing it within the top 44% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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Core & Main, Inc. (CNM): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).