Posted by admin on Jun 10th, 2022

Equities analysts 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 provided estimates for Core & Main’s earnings, with estimates ranging from $0.38 to $0.39. The business is scheduled to report its next earnings report before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Core & Main will report full year earnings of $1.27 per share for the current year, with EPS estimates ranging from $1.18 to $1.37. For the next year, analysts anticipate that the firm will post earnings of $1.22 per share, with EPS estimates ranging from $1.03 to $1.40. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Core & Main.

Core & Main (NYSE:CNM – Get Rating) last issued its quarterly earnings results on Wednesday, March 30th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.24 by $0.06. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.14 billion. The company’s revenue for the quarter was up 49.9% on a year-over-year basis.

Several research analysts recently issued reports on CNM shares. Bank of America cut shares of Core & Main from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $31.00 to $25.00 in a report on Thursday, February 17th. Barclays upgraded shares of Core & Main from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $32.00 to $34.00 in a research report on Thursday, March 31st. Zacks Investment Research lowered shares of Core & Main from a “buy” rating to a “hold” rating in a research report on Wednesday, June 1st. Royal Bank of Canada decreased their price target on shares of Core & Main from $33.00 to $31.00 and set an “outperform” rating on the stock in a research note on Thursday, March 31st. Finally, Truist Financial reduced their target price on shares of Core & Main from $32.00 to $28.00 and set a “hold” rating on the stock in a research note on Thursday, March 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $30.69.

In other Core & Main news, VP Jeffrey D. Giles sold 2,600 shares of the company’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $22.12, for a total value of $57,512.00. Following the sale, the vice president now directly owns 4,146 shares in the company, valued at $91,709.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jeffrey D. Giles sold 30,000 shares of the company’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $25.04, for a total value of $751,200.00. Following the completion of the sale, the vice president now owns 4,146 shares in the company, valued at $103,815.84. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

Hedge funds have recently made changes to their positions in the company. Metropolitan Life Insurance Co NY acquired a new position in shares of Core & Main during the third quarter valued at $32,000. UMB Bank N A MO acquired a new position in shares of Core & Main during the first quarter valued at $37,000. UBS Group AG acquired a new position in shares of Core & Main during the third quarter valued at $54,000. MetLife Investment Management LLC acquired a new position in shares of Core & Main during the first quarter valued at $58,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Core & Main during the fourth quarter valued at $76,000. Institutional investors own 95.48% of the company’s stock.

NYSE CNM opened at $23.62 on Friday. Core & Main has a 52-week low of $20.00 and a 52-week high of $32.54. The firm’s 50 day moving average price is $23.59 and its 200-day moving average price is $24.45. The company has a current ratio of 2.11, a quick ratio of 1.09 and a debt-to-equity ratio of 0.80.

About Core & Main (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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