February 4, 2023

Surging Earnings Estimates Signal Good News for Core & Main (CNM)

Core & Main, Inc. CNM is a leading specialized distributor of water, wastewater, storm drainage and fire protection products, and related services that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on CNM earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Core & Main could be a solid choice for investors

Current Quarter Estimates for CNM

In the past 30 days, two estimates have gone higher for Core & Main while none has gone lower in the same time period. The trend has been pretty favorable too, with estimates moving from 12 cents per share 30 days ago, to 24 cents per share today, a move of 100%

Core & Main, Inc. Price and Consensus

Core & Main, Inc. price-consensus-chart | Core & Main, Inc. Quote

Current Year Estimates for CNM

Meanwhile, Core & Main’s current year figures are also looking quite promising, with three estimates moving higher in the past one month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, moving from 83 cents per share 30 days ago to $1.02 per share today, a move of 22.8%

Bottom Line

The stock has also started to move higher lately, adding 14.3% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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