In the latest market close, Core & Main (CNM) reached $48.27, with a -0.49% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.08%. Meanwhile, the Dow experienced a rise of 0.08%, and the technology-dominated Nasdaq saw an increase of 0.52%.
Shares of the distributor of water and fire protection products witnessed a loss of 7.46% over the previous month, trailing the performance of the Industrial Products sector with its loss of 5.98% and the S&P 500's loss of 7.33%.
The investment community will be closely monitoring the performance of Core & Main in its forthcoming earnings report. The company is scheduled to release its earnings on March 25, 2025. The company is predicted to post an EPS of $0.36, indicating a 5.88% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.68 billion, indicating a 16.67% increase compared to the same quarter of the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Core & Main. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 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).
Investors should also note Core & Main's current valuation metrics, including its Forward P/E ratio of 20.18. This indicates a premium in contrast to its industry's Forward P/E of 18.63.
We can also see that CNM currently has a PEG ratio of 2.41. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Manufacturing - Tools & Related Products industry held an average PEG ratio of 1.3.
The Manufacturing - Tools & Related Products industry is part of the Industrial Products sector. This group has a Zacks Industry Rank of 82, putting it in the top 33% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).
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