Core & Main (NYSE:CNM) Announces Quarterly Earnings Results

Core & Main (NYSE:CNMGet Free Report) announced its quarterly earnings results on Tuesday. The company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52, RTT News reports. The firm had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.84 billion. Core & Main had a net margin of 5.71% and a return on equity of 24.71%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.49 EPS. Core & Main updated its FY 2025 guidance to EPS.

Core & Main Stock Performance

Core & Main stock opened at $57.46 on Thursday. The company has a current ratio of 2.14, a quick ratio of 1.28 and a debt-to-equity ratio of 1.36. Core & Main has a 1 year low of $37.22 and a 1 year high of $60.38. The company has a market cap of $11.37 billion, a PE ratio of 26.98, a PEG ratio of 2.61 and a beta of 1.02. The company’s 50-day moving average is $52.49 and its two-hundred day moving average is $51.88.

Analyst Upgrades and Downgrades

CNM has been the topic of several recent analyst reports. Robert W. Baird reduced their target price on shares of Core & Main from $66.00 to $65.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 26th. JPMorgan Chase & Co. boosted their target price on shares of Core & Main from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, May 27th. Royal Bank of Canada boosted their target price on shares of Core & Main from $60.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday. Loop Capital boosted their target price on shares of Core & Main from $63.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Core & Main in a research note on Tuesday, April 1st. They issued a “buy” rating and a $60.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.00.

Get Our Latest Report on Core & Main

Insider Buying and Selling at Core & Main

In related news, insider Laura K. Schneider sold 45,695 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $56.25, for a total transaction of $2,570,343.75. Following the completion of the sale, the insider now directly owns 12,873 shares of the company’s stock, valued at approximately $724,106.25. This represents a 78.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Mark G. Whittenburg sold 900 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $60.03, for a total transaction of $54,027.00. Following the transaction, the general counsel now directly owns 9,691 shares of the company’s stock, valued at $581,750.73. This represents a 8.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 157,666 shares of company stock worth $8,770,352. Company insiders own 3.53% of the company’s stock.

Institutional Investors Weigh In On Core & Main

Large investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC boosted its holdings in shares of Core & Main by 262.0% in the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock valued at $35,000 after buying an additional 524 shares during the last quarter. AQR Capital Management LLC acquired a new stake in Core & Main during the 1st quarter valued at $396,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Core & Main by 36.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,576 shares of the company’s stock valued at $1,719,000 after purchasing an additional 9,534 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Core & Main by 23.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 291,988 shares of the company’s stock valued at $14,106,000 after purchasing an additional 54,854 shares during the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main Company Profile

(Get Free Report)

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.

Read More

Earnings History for Core & Main (NYSE:CNM)

Receive News & Ratings for Core & Main Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Core & Main and related companies with MarketBeat.com's FREE daily email newsletter.