The most recent trading session ended with Core & Main (CNM) standing at $52.69, reflecting a -1.57% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 1.61%. Meanwhile, the Dow experienced a drop of 1.91%, and the technology-dominated Nasdaq saw a decrease of 1.41%.

The the stock of distributor of water and fire protection products has risen by 7.73% in the past month, lagging the Industrial Products sector's gain of 15.14% and the S&P 500's gain of 12.65%.

Market participants will be closely following the financial results of Core & Main in its upcoming release. The company is forecasted to report an EPS of $0.52, showcasing a 6.12% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $1.83 billion, showing a 5.25% escalation compared to the year-ago quarter.

CNM's full-year Zacks Consensus Estimates are calling for earnings of $2.43 per share and revenue of $7.71 billion. These results would represent year-over-year changes of +14.08% and +3.66%, respectively.

Investors might also notice recent changes to analyst estimates for Core & Main. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. As of now, Core & Main holds a Zacks Rank of #3 (Hold).

Looking at valuation, Core & Main is presently trading at a Forward P/E ratio of 22.03. This signifies a premium in comparison to the average Forward P/E of 17.52 for its industry.

One should further note that CNM currently holds a PEG ratio of 2.02. 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 1.66 at the close of the market yesterday.

Story Continues

The Manufacturing - Tools & Related Products industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 204, finds itself in the bottom 18% echelons 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 Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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Core & Main, Inc. (CNM):Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

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