Core & Main (CNM) Stock Declines While Market Improves: Some Information for Investors

Core & Main (CNM) closed at $47.32 in the latest trading session, marking a -0.44% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.17% for the day. Meanwhile, the Dow experienced a drop of 0.25%, and the technology-dominated Nasdaq saw an increase of 0.37%.

The distributor of water and fire protection products's stock has climbed by 13.17% in the past month, exceeding the Business Services sector's gain of 8.35% and the S&P 500's gain of 3.8%.

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 $0.47, showcasing a 51.61% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $1.45 billion, up 5.42% from the prior-year quarter.

It is also important to note the recent changes to analyst estimates for Core & Main. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Core & Main presently features a Zacks Rank of #3 (Hold).

Looking at valuation, Core & Main is presently trading at a Forward P/E ratio of 19.32. This indicates a discount in contrast to its industry's Forward P/E of 24.01.

Also, we should mention that CNM has a PEG ratio of 2.21. 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 Waste Removal Services industry currently had an average PEG ratio of 2.99 as of yesterday's close.

The Waste Removal Services industry is part of the Business Services sector. Currently, this industry holds a Zacks Industry Rank of 175, positioning it in the bottom 31% of all 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.

Be sure to use to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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