Core and Main, Inc. (NYSE:CNM) is expected to post quarterly sales of $1.44 billion.
Equity analysts estimate that Core & Main, Inc. (NYSE: CNM – GET Rating) will announce sales of $1.44 billion for the current fiscal quarter, Jax Investment Research reports. Two analysts have provided earnings estimates for Core and Maine. The highest sales are estimated at $1.49 billion and the lowest at $1.38 billion. The company is scheduled to report its next quarterly earnings results on Monday, January 1.
On average, analysts expect Core & Main to 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 expect the business to post sales of $5.24 billion, with estimates ranging from $5.06 billion to $5.42 billion. Zacks Investment Research’s sales averages are average averages based on a survey of analysts that provides coverage for cores and mains.
Core & Main (NYSE: CNM – GET RATINGS) last posted its earnings results on Wednesday, March 30. The company reported earnings per share (EPS) of $0.31 for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. The firm’s revenue during the quarter was $1.25 billion, compared to analyst estimates of $1.14 billion. The company’s revenue was up 49.9% on a year-on-year basis.
Several research analysts recently released reports on the stock. Barclays upgraded Core & Main’s shares from an “equal weight” rating to an “overweight” rating and raised its target price for the company from $32.00 to $34.00 in a research note on Thursday, March 31. Royal Bank of Canada lowered its price target on the shares of Core and Maine from $33.00 to $31.00 and set an “outperform” rating on the stock in a research report on Thursday, March 31. Truist Financial lowered its price target on shares of Core and Maine from $32.00 to $28.00 and set a “hold” rating on the stock in a research report on Thursday, March 31. Zacks Investment Research upgraded Core & Main’s shares from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Friday, April 1. Finally, Bank of America downgraded Core and Maine’s shares from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $31.00 to $25.00 in a research report dated Thursday, February 17th. One analyst has rated the stock with sell rating, five have given hold rating and seven have given buy rating to the stock. According to data from Marketbeat.com, the stock currently has an average rating of “hold” and a consensus target price of $30.69.
NYSE: CNM opened Friday at $23.40. Core & Main has a 1-Year low of $20.00 and a 1-Year High of $32.54. The firm’s 50-day simple moving average is $23.56 and its 200-day simple moving average is $24.90. The company has a current ratio of 2.11, a quick ratio of 1.09 and a debt-to-equity ratio of 0.80.
In related news, VP Jeffrey D. Giles sold 2,600 shares of Core and Core stock in a single transaction on Monday, May 16. Shares were sold at an average price of $22.12 for a total transaction of $57,512.00. Following the completion of the transaction, the vice president now directly owns 4,146 shares of the company’s stock, valued at approximately $91,709.52. The sale was disclosed in a legal filing with the Securities and Exchange Commission, which is available on the SEC website.
Many hedge funds have recently changed their positions in the CNM. Metropolitan Life Insurance Company NY purchased a new location in Core & Main for approximately $32,000 during the third quarter. UMB Bank NA MO acquired a new stake in Core and Maine in the first quarter, worth approximately $37,000. UBS Group AG acquired a new stake in Core & Main, valued at approximately $54,000, in the third quarter. MetLife Investment Management LLC acquired a new stake in Core & Main worth approximately $58,000 in the first quarter. Finally, Point72 Hong Kong Limited acquired a new stake in Core & Main, valued at approximately $76,000, in the fourth quarter. 95.48% of the stock is owned by hedge funds and other institutional investors.
About core and main (get rating)
Core & Mains, Inc. distributes water, wastewater, storm water drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in 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 equipment, fire suppression systems and related accessories, as well as construction services; and meter products, such as smart meter products, installation, software and other services.
Recommended Stories
Get a free copy of the Jacques Research Report on Core and Main (CNM)
For more information about Jax Investment Research’s research proposals, visit Jax.com
Want more great investment ideas?
Get news and ratings for core and main dailies – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for Core and Maine and related companies with MarketBeat.com’s free daily email newsletter.
