Core & Main (NYSE:CNM – Get Free Report) will be posting its quarterly earnings results before the market opens on Wednesday, September 6th. Analysts expect Core & Main to post earnings of $0.65 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.
Core & Main (NYSE:CNM – Get Free Report) last announced its quarterly earnings results on Tuesday, June 6th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.60 billion. Core & Main had a net margin of 5.52% and a return on equity of 18.42%. Core & Main’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 EPS. On average, analysts expect Core & Main to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.
Core & Main Trading Up 3.6 %
Shares of NYSE:CNM opened at $32.56 on Wednesday. Core & Main has a 1 year low of $18.75 and a 1 year high of $33.22. The firm has a fifty day moving average price of $31.25 and a 200 day moving average price of $27.10. The company has a current ratio of 2.71, a quick ratio of 1.42 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $7.52 billion, a PE ratio of 15.29 and a beta of 0.92.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on CNM shares. Barclays boosted their target price on Core & Main from $37.00 to $38.00 in a report on Thursday, July 13th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Core & Main from $42.00 to $44.00 in a research note on Monday, June 12th. Citigroup upped their price target on shares of Core & Main from $29.00 to $34.00 and gave the company a “neutral” rating in a report on Friday, July 14th. Truist Financial lifted their price objective on Core & Main from $24.00 to $29.00 in a research note on Thursday, June 8th. Finally, TheStreet upgraded Core & Main from a “c” rating to a “b-” rating in a research note on Monday, July 24th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.80.
Insiders Place Their Bets
In related news, CEO Stephen O. Leclair sold 4,288 shares of the company’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $28.76, for a total value of $123,322.88. Following the sale, the chief executive officer now owns 73,692 shares of the company’s stock, valued at $2,119,381.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Stephen O. Leclair sold 4,288 shares of the stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $28.76, for a total transaction of $123,322.88. Following the completion of the sale, the chief executive officer now owns 73,692 shares in the company, valued at approximately $2,119,381.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Bradford A. Cowles sold 24,889 shares of the company’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $28.10, for a total transaction of $699,380.90. Following the sale, the president now directly owns 14,679 shares in the company, valued at $412,479.90. The disclosure for this sale can be found here. Insiders have sold 17,279,809 shares of company stock worth $487,651,108 over the last 90 days. Corporate insiders own 3.49% of the company’s stock.
Institutional Investors Weigh In On Core & Main
Hedge funds have recently added to or reduced their stakes in the stock. Money Concepts Capital Corp bought a new position in shares of Core & Main in the fourth quarter worth about $39,000. PNC Financial Services Group Inc. bought a new position in Core & Main in the 2nd quarter worth approximately $43,000. Tower Research Capital LLC TRC lifted its holdings in Core & Main by 335.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,755 shares of the company’s stock worth $55,000 after buying an additional 1,352 shares in the last quarter. MetLife Investment Management LLC bought a new position in Core & Main in the 1st quarter valued at $58,000. Finally, State of Wyoming increased its stake in shares of Core & Main by 269.7% in the 4th quarter. State of Wyoming now owns 3,852 shares of the company’s stock valued at $74,000 after buying an additional 2,810 shares during the period. Institutional investors own 94.19% of the company’s stock.
About Core & Main
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 portfolio 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, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter accessories, installation, software, and other services.