Core & Main (CNM) closed the most recent trading day at $42.37, moving -3.66% from the previous trading session. This change lagged the S&P 500's daily loss of 1.52%. Meanwhile, the Dow experienced a drop of 2.19%, and the technology-dominated Nasdaq saw a decrease of 1.74%.

The distributor of water and fire protection products's shares have seen a decrease of 8.85% over the last month, not keeping up with the Industrial Products sector's loss of 3.67% and the S&P 500's gain of 1.92%.

Investors will be eagerly watching for the performance of Core & Main in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.93, signifying a 6.90% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $2.14 billion, up 2.31% from the year-ago period.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.15 per share and a revenue of $7.88 billion, representing changes of +6.06% and +3.01%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for Core & Main. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending 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 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 witnessed a 0.65% increase. At present, Core & Main boasts a Zacks Rank of #2 (Buy).

With respect to valuation, Core & Main is currently being traded at a Forward P/E ratio of 13.98. This indicates a discount in contrast to its industry's Forward P/E of 18.75.

Meanwhile, CNM's PEG ratio is currently 1.48. 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. The average PEG ratio for the Manufacturing - Tools & Related Products industry stood at 1.37 at the close of the market yesterday.

The Manufacturing - Tools & Related Products industry is part of the Industrial Products sector. This industry, currently bearing a Zacks Industry Rank of 189, finds itself in the bottom 24% echelons of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

To follow CNM in the coming trading sessions, be sure to utilize Zacks.com.

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

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