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

Core & Main (NYSE:CNM) released its quarterly earnings data on Tuesday. The company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03), Briefing.com reports. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.67 billion. Core & Main had a return on equity of 24.71% and a net margin of 5.71%. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period last year, the firm earned $0.34 earnings per share. Core & Main updated its FY 2025 guidance to EPS.

Core & Main Trading Up 2.6 %

CNM opened at $49.55 on Tuesday. The company has a quick ratio of 1.28, a current ratio of 2.14 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $9.84 billion, a price-to-earnings ratio of 23.26, a P/E/G ratio of 2.61 and a beta of 1.05. The company has a 50-day simple moving average of $52.28 and a 200 day simple moving average of $48.64. Core & Main has a twelve month low of $37.22 and a twelve month high of $62.15.

Insider Buying and Selling

In other news, General Counsel Mark G. Whittenburg sold 50,000 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $50.49, for a total value of $2,524,500.00. Following the completion of the transaction, the general counsel now owns 7,667 shares of the company’s stock, valued at approximately $387,106.83. This represents a 86.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Bradford A. Cowles sold 12,500 shares of Core & Main stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $50.50, for a total transaction of $631,250.00. Following the sale, the president now directly owns 16,010 shares in the company, valued at $808,505. This trade represents a 43.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,294 shares of company stock worth $9,383,685. Corporate insiders own 3.49% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Citigroup upped their price target on shares of Core & Main from $43.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, January 6th. The Goldman Sachs Group increased their target price on Core & Main from $50.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Truist Financial upped their price objective on Core & Main from $38.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Royal Bank of Canada reissued an “outperform” rating and set a $62.00 target price (up previously from $53.00) on shares of Core & Main in a report on Wednesday, December 4th. Finally, Robert W. Baird upped their price target on shares of Core & Main from $60.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $57.60.

About Core & Main

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.