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When Will Core & Main Inc. (NYSE: CNM) Be A Good Investment?

In the last trading session, 3.97 million Core & Main Inc. (NYSE:CNM) shares changed hands as the company’s beta touched 0.94. With the company’s per share price at $28.50 changed hands at $0.28 or 0.99% during last session, the market valuation stood at $6.73B. CNM’s last price was a discount, traded about -16.91% off its 52-week high of $33.32. The share price had its 52-week low at $18.75, which suggests the last value was 34.21% up since then. When we look at Core & Main Inc.’s average trading volume, we note the 10-day average is 2.53 million shares, with the 3-month average coming to 1.12 million.

Analysts gave the Core & Main Inc. (CNM) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.30. If we narrow down to specifics, the data shows that 0 out of 11 analysts rate the stock as a Sell, with a further 2 assigning it an Overweight rating. Of the remaining, 4 recommended CNM as a Hold, 4 felt it is a Buy and 1 rated the stock as Underweight. Core & Main Inc.’s EPS for the current quarter is expected to be $0.65.

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Core & Main Inc. (NYSE:CNM) trade information

Instantly CNM was in green as seen at the end of in last trading. With action -5.72%, the performance over the past five days has been red. The jump to weekly highs of 30.43 on Monday, 09/18/23 added 0.99% to the stock’s daily price. The company’s shares are showing year-to-date upside of 47.59%, with the 5-day performance at -5.72% in the red. However, in the 30-day time frame, Core & Main Inc. (NYSE:CNM) is -7.92% down. Looking at the short shares, we see there were 9.63 million shares sold at short interest cover period of 12.03 days.

The consensus price target for the stock as assigned by Wall Street analysts is $35.91, meaning bulls need an upside of 20.63% from its current market value. According to analyst projections, CNM’s forecast low is $25.00 with $57.00 as the target high. To hit the forecast high, the stock’s price needs a -100.0% plunge from its current level, while the stock would need to tank 12.28% for it to hit the projected low.

Core & Main Inc. (CNM) estimates and forecasts

Data shows that the Core & Main Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 36.76% over the past 6 months, a -4.69% in annual growth rate that is considerably lower than the industry average of 6.40%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Core & Main Inc. will fall -3.00%, while the growth in revenue is estimated to hit -17.10% for the next quarter. Year-over-year growth is forecast to reach 0.30% up from the last financial year.

Consensus estimates given by 10 financial analysts project the company’s revenue in the current quarter to hit an average of $1.83 billion. 10 analysts are of the opinion that Core & Main Inc.’s revenue for the quarter ending Jan 2024 will be $1.42 billion. The estimates for the next quarter sales put growth at 3.20%.

The 2023 estimates are for Core & Main Inc. earnings to increase by 148.20%, but the outlook for the next 5-year period is at 29.55% per year.

CNM Dividends

Core & Main Inc. is expected to release its next quarterly earnings report between December 04 and December 08.

Core & Main Inc. (NYSE:CNM)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.17% of Core & Main Inc. shares while 101.43% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 101.60%. There are 101.43% institutions holding the Core & Main Inc. stock share, with Clayton, Dubilier & Rice, LLC the top institutional holder. As of Jun 29, 2023, the company held 71.94% of the shares, roughly 121.8 million CNM shares worth $3.47 billion.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 4.90% or 8.3 million shares worth $236.64 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Victory Portfolios-Sycamore Small Company Opportunity Fund and Vanguard Total Stock Market Index Fund. With 3.02 million shares estimated at $85.93 million under it, the former controlled 1.78% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 1.70% of the shares, roughly 2.88 million shares worth around $82.22 million.

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