In This Article:
The most recent trading session ended with Core & Main (CNM) standing at $57.26, reflecting a +0.81% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily gain of 0.61%. On the other hand, the Dow registered a gain of 0.3%, and the technology-centric Nasdaq increased by 1.28%.
The distributor of water and fire protection products's stock has climbed by 10.36% in the past month, exceeding the Industrial Products sector's gain of 5.08% and the S&P 500's gain of 2.08%.
The upcoming earnings release of Core & Main will be of great interest to investors. The company's upcoming EPS is projected at $0.36, signifying a 5.88% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $1.68 billion, reflecting a 16.67% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $2.16 per share and a revenue of $7.42 billion, demonstrating changes of +0.47% and +10.76%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Core & Main. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing 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 currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, Core & Main currently has a Forward P/E ratio of 26.26. This signifies a premium in comparison to the average Forward P/E of 19.04 for its industry.
It's also important to note that CNM currently trades at a PEG ratio of 3.14. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Manufacturing - Tools & Related Products was holding an average PEG ratio of 1.98 at yesterday's closing price.