Zacks: Brokerages Anticipate Core & Main, Inc. (NYSE:CNM) to Announce $0.39 EPS

Wall Street brokerages expect Core & Main, Inc. (NYSE:CNM – Get Rating) to report earnings of $0.39 per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Core & Main’s earnings. The highest EPS estimate is $0.39 and the lowest is $0.38. The firm is expected to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Core & Main will report full-year earnings of $1.27 per share for the current financial year, with EPS estimates ranging from $1.18 to $1.37. For the next financial year, analysts anticipate that the firm will report earnings of $1.22 per share, with EPS estimates ranging from $1.03 to $1.40. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Core & Main.

Core & Main (NYSE:CNM – Get Rating) last released its earnings results on Wednesday, March 30th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.09. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.14 billion. The firm’s quarterly revenue was up 49.9% on a year-over-year basis.

Several equities analysts have recently issued reports on CNM shares. Bank of America cut Core & Main from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $31.00 to $25.00 in a research note on Thursday, February 17th. Truist Financial decreased 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. Barclays upgraded Core & Main from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $32.00 to $34.00 in a research note on Thursday, March 31st. Zacks Investment Research upgraded Core & Main from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research note on Friday, April 1st. Finally, Royal Bank of Canada decreased their price objective on Core & Main from $33.00 to $31.00 and set an “outperform” rating for the company in a research note on Thursday, March 31st. One equities research 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 currently has an average rating of “Hold” and a consensus target price of $30.69.

NYSE CNM traded up $1.65 during trading on Friday, hitting $23.40. The stock had a trading volume of 1,093,794 shares, compared to its average volume of 988,571. The firm has a 50 day moving average price of $23.56 and a 200 day moving average price of $24.92. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.09 and a current ratio of 2.11. Core & Main has a twelve month low of $20.00 and a twelve month high of $32.54.

In other Core & Main news, VP Jeffrey D. Giles sold 2,600 shares of Core & Main stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $22.12, for a total transaction of $57,512.00. Following the transaction, the vice president now owns 4,146 shares of the company’s stock, valued at $91,709.52. The transaction was disclosed in a filing with the SEC, which is available at this link.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its holdings in shares of Core & Main by 8.0% in the first quarter. The Manufacturers Life Insurance Company now owns 55,419 shares of the company’s stock valued at $1,341,000 after purchasing an additional 4,118 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of Core & Main in the first quarter valued at approximately $7,497,000. Quantbot Technologies LP increased its holdings in shares of Core & Main by 267.7% in the first quarter. Quantbot Technologies LP now owns 9,927 shares of the company’s stock valued at $240,000 after purchasing an additional 7,227 shares during the period. Select Equity Group L.P. increased its holdings in shares of Core & Main by 35.0% in the first quarter. Select Equity Group L.P. now owns 11,639,083 shares of the company’s stock valued at $281,549,000 after purchasing an additional 3,018,351 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Core & Main in the first quarter valued at approximately $529,000. 95.48% of the stock is currently owned by institutional investors.

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 pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, and other related products; fire protection products, including fire protection pipes, sprinkler heads and other devices, fire suppression systems, and related accessories, as well as fabrication services; and meter products, such as smart meter products, installation, software and other services.

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