Why Core & Main (CNM) Stock Is Trading Lower Today

What Happened:

Shares of water and fire protection solutions company Core & Main (NYSE:CNM) fell 15% in the pre-market session after the company reported second-quarter earnings results. Its revenue unfortunately missed, and its EPS fell short of Wall Street's estimates. Management noted that gains from acquisitions were partially offset by "delays from wet weather conditions and comparably lower end-market volumes." Overall, this was a weaker quarter.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy Core & Main? Access our full analysis report here, it’s free.

What is the market telling us:

Core & Main’s shares are somewhat volatile and over the last year have had 9 moves greater than 5%. But moves this big are very rare even for Core & Main and that is indicating to us that this news had a significant impact on the market’s perception of the business.

Core & Main is up 1.8% since the beginning of the year, but at $40.29 per share it is still trading 35% below its 52-week high of $62.03 from May 2024. Investors who bought $1,000 worth of Core & Main’s shares at the IPO in July 2021 would now be looking at an investment worth $1,701.

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