Core & Main(CNM)

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Core & Main (CNM) Stock Sinks As Market Gains: Here's Why
ZACKS· 2024-11-12 00:01
The latest trading session saw Core & Main (CNM) ending at $42.73, denoting a -1.95% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.1%. Elsewhere, the Dow gained 0.69%, while the tech-heavy Nasdaq added 0.06%.Heading into today, shares of the distributor of water and fire protection products had lost 1.07% over the past month, lagging the Industrial Products sector's gain of 4.85% and the S&P 500's gain of 4.37% in that time.Analysts and investors alik ...
Core & Main (CNM) Falls More Steeply Than Broader Market: What Investors Need to Know
ZACKS· 2024-10-21 23:20
In the latest market close, Core & Main (CNM) reached $46.09, with a -1.35% movement compared to the previous day. This move lagged the S&P 500's daily loss of 0.18%. Meanwhile, the Dow experienced a drop of 0.8%, and the technology-dominated Nasdaq saw an increase of 0.27%.Shares of the distributor of water and fire protection products have appreciated by 7.63% over the course of the past month, outperforming the Business Services sector's gain of 4.62% and the S&P 500's gain of 4.46%.The investment commun ...
Why Core & Main (CNM) Outpaced the Stock Market Today
ZACKS· 2024-10-09 23:20
Core & Main (CNM) closed at $43.45 in the latest trading session, marking a +1.73% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.71%. At the same time, the Dow added 1.03%, and the tech-heavy Nasdaq gained 0.6%. Heading into today, shares of the distributor of water and fire protection products had gained 12.04% over the past month, outpacing the Business Services sector's gain of 5.54% and the S&P 500's gain of 6.41% in that time. Market participants will b ...
Core & Main: 40% Selloff Since May, But I Am Not Buying Yet
Seeking Alpha· 2024-09-10 13:54
DougVonGausig Core & Main, Inc. (NYSE:CNM) recently published their Q2 2024 results on September 4. On the day of the earnings release, the share price fell by over 15%, leaving shareholders questioning how much further it could drop until the end of the year. In this article, I will discuss Core & Main's recent performance, with a focus on the pressures and headwinds that the company is currently facing, including weather disruptions, lower steel pipe prices, and a slowdown in commercial projects. In the O ...
Why Investors Bailed on Core & Main Stock This Week
The Motley Fool· 2024-09-06 21:06
Analysts cut their price targets on the company in the wake of its disappointing quarter. It wasn't shaping up to be a good stretch of days for Core & Main (CNM 0.13%) shareholders. In the abbreviated trading week, the specialized industrial company's stock tumbled by almost 21%, according to data compiled by S&P Global Market Intelligence. The major news from the company during the period wasn't very encouraging, after all. Nor was the resulting clutch of analyst price target reductions. A quarter to forge ...
Core & Main (CNM) Is Considered a Good Investment by Brokers: Is That True?
ZACKS· 2024-09-06 14:30
When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important? Let's take a look at what these Wall Street heavyweights have to say about Core & Main (CNM) before we discuss the reliability of brokerage recommendations and how to use them to your advantage. Core & Main currently has an average brokerage recommendati ...
Infrastructure Firm Core & Main's Stock Drops After Results Miss Estimates, Outlook Cut
Investopedia· 2024-09-04 18:55
Key Takeaways Infrastructure company Core & Main missed profit and sales estimates as bad weather and macroeconomic conditions had an impact on its results. The supplier of pipes also cut its full-year guidance. Core & Main's stock dropped Wednesday, turning negative for the year so far. Shares of Core & Main (CNM), which supplies pipes for water, wastewater and other uses, posted worse-than-expected results and cut its outlook after it said bad weather and economic conditions affected sales. The news dragg ...
Core & Main(CNM) - 2024 Q2 - Earnings Call Presentation
2024-09-04 16:52
Fiscal 2024 Second Quarter Results SEPTEMBER 4, 2024 CAUTIONARY STATEMENTS Cautionary Note Regarding Forward-Looking Statements This presentation and accompanying discussion may include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, all statements other than statements of historical or current facts relating to our intentions, beliefs, assumptions or current expectations concerning, among other ...
Core & Main(CNM) - 2024 Q2 - Earnings Call Transcript
2024-09-04 16:52
Core & Main, Inc. (NYSE:CNM) Q2 2024 Earnings Call Transcript September 4, 2024 8:30 AM ET Company Participants Robyn Bradbury - IR Steve LeClair - Chair and CEO Brad Cowles - President Mark Witkowski - CFO Conference Call Participants Kathryn Thompson - Thompson Research Group Dave Manthey - Baird Matthew Bouley - Barclays Nigel Coe - Wolfe Research Joe Ritchie - Goldman Sachs Mike Dahl - RBC Capital Markets Anthony Pettinari - Citi Patrick Baumann - JPMorgan David Ridley-Lane - Bank of America Operator He ...
Why Core & Main Stock Is Down Big Today
The Motley Fool· 2024-09-04 15:01
Core Points - Core & Main reported weaker-than-expected earnings, leading to a 14% drop in share price after missing both top- and bottom-line expectations and cutting full-year guidance [1][3] - The company reported earnings of $0.61 per share on sales of $1.96 billion for the fiscal second quarter, with year-over-year sales growth of 5.5% and gross profit growth of 3.4%, but fell short of Wall Street estimates of $0.74 per share and $2.1 billion in sales [3] - CEO Steve LeClair attributed the growth shortfall to wet weather conditions that delayed projects and lower end-market volumes [3] Revenue Forecast - Core & Main reduced its full-year revenue forecast by $200 million, now expecting revenue in the range of $7.3 billion to $7.4 billion due to weather disruptions and project delays into 2025 [4] Market Outlook - Despite recent declines, Core & Main stock has been a strong performer over the past year, driven by expectations of increased business in the future [5] - The company continues to consolidate, having completed five deals since the last quarter, which is expected to broaden its addressable market [5] - The stock is currently trading at about 19 times earnings, indicating it is not inexpensive, but the long-term market potential remains significant [6]