Core & Main (CNM) Ascends But Remains Behind Market: Some Facts to Note

Core & Main (CNM) closed at $47.53 in the latest trading session, marking a +0.23% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 1.12%. Elsewhere, the Dow gained 1.14%, while the tech-heavy Nasdaq added 1.46%.Shares of the distributor of water and fire protection products witnessed a loss of 13.21% over the previous month, trailing the performance of the Industrial Products sector with its loss of 7.88% and the S&P 500's loss of 4.13%.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. Our most recent consensus estimate is calling for quarterly revenue of $1.68 billion, up 16.67% from the year-ago period.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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, Core & Main is carrying a Zacks Rank of #3 (Hold).In terms of valuation, Core & Main is currently trading at a Forward P/E ratio of 19.73. This signifies a premium in comparison to the average Forward P/E of 19.23 for its industry.One should further note that CNM currently holds a PEG ratio of 2.36. 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 average PEG ratio for the Manufacturing - Tools & Related Products industry stood at 1.29 at the close of the market yesterday.The Manufacturing - Tools & Related Products industry is part of the Industrial Products sector. Currently, this industry holds a Zacks Industry Rank of 88, positioning it in the top 36% of all 250+ industries.The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.You can find more information on all of these metrics, and much more, on Zacks.com.Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Core & Main, Inc. (CNM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks