Core & Main, Inc. (NYSE:CNM) Expected to Post Quarterly Sales of $1.44 Billion

Wall Street analysts expect that Core & Main, Inc. (NYSE:CNM – Get Rating) will report sales of $1.44 billion for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Core & Main’s earnings, with the lowest sales estimate coming in at $1.38 billion and the highest estimate coming in at $1.49 billion. The firm is scheduled to issue its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Core & Main will report full-year sales of $5.50 billion for the current fiscal year, with estimates ranging from $5.47 billion to $5.53 billion. For the next fiscal year, analysts anticipate that the business will report sales of $5.24 billion, with estimates ranging from $5.06 billion to $5.42 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Core & Main.

Core & Main (NYSE:CNM – Get Rating) last posted its quarterly earnings data on Wednesday, March 30th. The company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.09. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.14 billion. The firm’s revenue for the quarter was up 49.9% compared to the same quarter last year.

A number of research analysts have recently commented on the stock. Bank of America cut shares of Core & Main from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $31.00 to $25.00 in a report on Thursday, February 17th. Barclays raised shares of Core & Main from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $32.00 to $34.00 in a report on Thursday, March 31st. Zacks Investment Research raised shares of Core & Main from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Friday, April 1st. Royal Bank of Canada dropped their target price on shares of Core & Main from $33.00 to $31.00 and set an “outperform” rating for the company in a report on Thursday, March 31st. Finally, Truist Financial lowered their price objective on Core & Main from $32.00 to $28.00 and set a “hold” rating for the company in a research note on Thursday, March 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Core & Main presently has a consensus rating of “Hold” and a consensus target price of $30.69.

CNM stock opened at $23.76 on Monday. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.11 and a quick ratio of 1.09. Core & Main has a 12 month low of $20.00 and a 12 month high of $32.54. The firm has a 50-day moving average price of $23.23 and a 200-day moving average price of $25.24.

A number of large investors have recently added to or reduced their stakes in CNM. Janney Montgomery Scott LLC acquired a new stake in Core & Main during the 3rd quarter valued at approximately $214,000. New York State Common Retirement Fund bought a new position in shares of Core & Main during the 3rd quarter worth approximately $1,041,000. Raymond James & Associates bought a new position in shares of Core & Main during the 3rd quarter worth approximately $11,450,000. Treasurer of the State of North Carolina bought a new position in shares of Core & Main during the 3rd quarter worth approximately $330,000. Finally, Advisor Group Holdings Inc. bought a new position in shares of Core & Main during the 3rd quarter worth approximately $665,000. 93.00% of the stock is owned by institutional investors and hedge funds.

Core & Main Company Profile (Get Rating)

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products include castings, clamps, couplings and tapping sleeves, drainage products, fittings, meters, pipe and pipe accessories, pumps and parts, restraints, safety and paint, service materials, tools, and valves and hydrants, as well as irrigation and other products; and fire protection solutions comprising fire protection pipes, sprinkler heads, and other devices, as well as fabrication services.

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