Core & Main (CNM) ended the recent trading session at $51.64, demonstrating a -0.39% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.07%.

The distributor of water and fire protection products's stock has climbed by 7.6% in the past month, falling short of the Industrial Products sector's gain of 16.88% and the S&P 500's gain of 13.74%.

Market participants will be closely following the financial results of Core & Main in its upcoming release. The company's earnings per share (EPS) are projected to be $0.52, reflecting a 6.12% increase from the same quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $1.83 billion, reflecting a 5.25% rise from the equivalent quarter last year.

For the full year, the Zacks Consensus Estimates project earnings of $2.43 per share and a revenue of $7.71 billion, demonstrating changes of +14.08% and +3.66%, respectively, from the preceding year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Core & Main. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Core & Main is currently sporting a Zacks Rank of #3 (Hold).

With respect to valuation, Core & Main is currently being traded at a Forward P/E ratio of 21.33. This represents a premium compared to its industry's average Forward P/E of 18.31.

Also, we should mention that CNM has a PEG ratio of 1.96. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Manufacturing - Tools & Related Products industry stood at 1.49 at the close of the market yesterday.

The Manufacturing - Tools & Related Products industry is part of the Industrial Products sector. With its current Zacks Industry Rank of 224, this industry ranks in the bottom 10% of all industries, numbering over 250.

Story Continues

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next 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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