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Core & Main (CNM) closed the latest trading day at $48.18, indicating a -1.81% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily loss of 3.46%. At the same time, the Dow lost 2.5%, and the tech-heavy Nasdaq lost 4.31%.
The distributor of water and fire protection products's stock has climbed by 3.24% in the past month, exceeding the Industrial Products sector's loss of 10% and the S&P 500's loss of 5.27%.
Market participants will be closely following the financial results of Core & Main in its upcoming release. It is anticipated that the company will report an EPS of $0.52, marking a 6.12% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $1.83 billion, indicating a 5.25% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.43 per share and a revenue of $7.71 billion, signifying shifts of +14.08% and +3.66%, respectively, from the last year.
Any recent changes to analyst estimates for Core & Main should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.11% higher. At present, Core & Main boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Core & Main is at present trading with a Forward P/E ratio of 18.33. This represents a premium compared to its industry's average Forward P/E of 15.06.
It's also important to note that CNM currently trades at a PEG ratio of 1.68. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. CNM's industry had an average PEG ratio of 1.05 as of yesterday's close.
The Manufacturing - Tools & Related Products industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 162, positioning it in the bottom 35% of all 250+ industries.