Core & Main (CNM) Scheduled to Post Earnings on Tuesday

Core & Main (NYSE:CNMGet Rating) is set to announce its earnings results before the market opens on Tuesday, June 14th. Analysts expect the company to announce earnings of $0.38 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Core & Main (NYSE:CNMGet Rating) last released its earnings results on Wednesday, March 30th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.06. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.14 billion. Core & Main’s revenue was up 49.9% compared to the same quarter last year. On average, analysts expect Core & Main to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Shares of CNM opened at $24.68 on Tuesday. 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 12 month low of $20.00 and a 12 month high of $32.54. The company has a 50-day moving average price of $23.61 and a two-hundred day moving average price of $24.49.

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

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Core & Main by 58.6% during the first quarter. Vanguard Group Inc. now owns 4,472,479 shares of the company’s stock valued at $108,189,000 after acquiring an additional 1,652,035 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Core & Main by 55.9% in the 1st quarter. BlackRock Inc. now owns 2,148,449 shares of the company’s stock worth $51,972,000 after acquiring an additional 770,677 shares during the last quarter. Robeco Schweiz AG bought a new stake in Core & Main during the 1st quarter valued at $51,950,000. Goldman Sachs Group Inc. raised its holdings in Core & Main by 35.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,575,321 shares of the company’s stock valued at $38,107,000 after buying an additional 415,368 shares during the last quarter. Finally, First Trust Advisors LP bought a new stake in Core & Main during the 1st quarter valued at $28,253,000. 95.48% of the stock is currently owned by institutional investors.

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

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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