Core & Main Displays Mixed Performance Amid Market Challenges
Latest Trading Highlights
Core & Main (CNM) closed at $45.21, reflecting a slight decline of -0.15% compared to the previous trading day. This performance surpassed the S&P 500’s daily drop of 0.76%, with the Dow and tech-heavy Nasdaq also reporting losses of 0.75% and 1.01%, respectively.
Monthly Gains and Sector Performance
Over the past month, Core & Main has seen a significant gain of 9.69%, which is notably higher than the Business Services sector’s growth of 3.52% and the S&P 500’s increase of 4.31% during the same period.
Upcoming Earnings Expectations
All eyes will be on Core & Main as it prepares for an upcoming earnings report. Analysts expect the company to announce an earnings per share (EPS) of $0.65, maintaining stability compared to the same quarter last year. The latest consensus estimate anticipates revenue of $2 billion, representing a 9.51% increase from the prior year.
Fiscal Year Projections
For the entire fiscal year, Zacks Consensus Estimates predict an EPS of $2.10 and revenue of $7.32 billion, indicating slight changes of -2.33% and +9.21%, respectively, from the previous year.
Analysts’ Upgraded Outlook
Investors should also watch for any recent updates in analyst projections for Core & Main, as these revisions often indicate shifting business trends. Positive changes generally suggest a favorable outlook for the company’s performance.
Impact of Earnings Estimates on Stock Prices
Research indicates that changes in estimates can directly influence imminent stock performance. The Zacks Rank, an exclusive model that accounts for these changes, provides an operational rating system that can assist investors. Stocks rated #1 (Strong Buy) have a strong track record, averaging a +25% annual return since 1988. Currently, Core & Main holds a Zacks Rank of #5 (Strong Sell).
Valuation Insights
Core & Main’s Forward P/E ratio stands at 21.6, which is lower than its industry’s ratio of 26.9. Additionally, the company has a PEG ratio of 2.95, in comparison to the Waste Removal Services industry’s average PEG ratio of 2.93, indicating that Core & Main’s growth expectations align with industry standards.
Industry Rankings and Performance
Part of the Business Services sector, the Waste Removal Services industry currently ranks 186 in the Zacks Industry Rank, placing it within the bottom 27% of over 250 industries. Industry rankings evaluate the average Zacks Rank of stocks within groups, showing that higher-ranking industries generally outperform the lower half by 2 to 1.
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Core & Main, Inc. (CNM): Free Stock Analysis Report
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
