Core & Main (NYSE:CNM) Releases Earnings Results, Beats Estimates By $0.16 EPS

Core & Main (NYSE:CNMGet Rating) released its quarterly earnings data on Tuesday. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.16, Fidelity Earnings reports. Core & Main had a net margin of 5.13% and a return on equity of 24.33%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same period last year, the business earned $0.10 earnings per share. Core & Main’s revenue was up 43.4% compared to the same quarter last year.

Core & Main Trading Down 1.5 %

CNM stock opened at $24.74 on Thursday. The company has a market capitalization of $6.08 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 1.12 and a beta of 1.08. Core & Main has a one year low of $20.00 and a one year high of $32.54. The company’s 50 day moving average price is $23.54 and its two-hundred day moving average price is $23.22. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.07 and a current ratio of 2.07.

Insiders Place Their Bets

In other Core & Main news, General Counsel Mark G. Whittenburg sold 19,729 shares of Core & Main stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $24.78, for a total transaction of $488,884.62. Following the transaction, the general counsel now directly owns 5,286 shares of the company’s stock, valued at $130,987.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, General Counsel Mark G. Whittenburg sold 6,179 shares of Core & Main stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $24.79, for a total value of $153,177.41. Following the transaction, the general counsel now directly owns 5,286 shares of the company’s stock, valued at $131,039.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Mark G. Whittenburg sold 19,729 shares of Core & Main stock in a transaction on Friday, September 9th. The stock was sold at an average price of $24.78, for a total transaction of $488,884.62. Following the completion of the transaction, the general counsel now directly owns 5,286 shares in the company, valued at $130,987.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 104,537 shares of company stock valued at $2,592,657. 1.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. MetLife Investment Management LLC purchased a new position in shares of Core & Main in the first quarter worth $58,000. Dimensional Fund Advisors LP purchased a new position in shares of Core & Main in the first quarter worth $212,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Core & Main in the second quarter worth $220,000. Quantbot Technologies LP increased its stake in shares of Core & Main by 267.7% in the first quarter. Quantbot Technologies LP now owns 9,927 shares of the company’s stock worth $240,000 after buying an additional 7,227 shares during the period. Finally, Acadian Asset Management LLC purchased a new position in shares of Core & Main in the first quarter worth $364,000. 94.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on CNM. Citigroup raised their price objective on shares of Core & Main from $25.00 to $26.00 in a research report on Wednesday. Truist Financial raised their price objective on shares of Core & Main from $25.00 to $28.00 and gave the company a “hold” rating in a research report on Wednesday. The Goldman Sachs Group raised their price objective on shares of Core & Main from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Core & Main in a research report on Wednesday, August 17th. They issued a “buy” rating and a $40.00 price objective for the company. Finally, Robert W. Baird lifted their target price on shares of Core & Main from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $29.00.

Core & Main Company Profile

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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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Earnings History for Core & Main (NYSE:CNM)

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