Yahoo Finance Is Core & Main (CNM) Stock Outpacing Its Business Services Peers This Year?
The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Core & Main (CNM) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Core & Main is one of 315 individual stocks in the Business Services sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Core & Main is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CNM's full-year earnings has moved 5.4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, CNM has gained about 47.3% so far this year. In comparison, Business Services companies have returned an average of 6.1%. This means that Core & Main is outperforming the sector as a whole this year.
Paymentus (PAY) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 8.1%.
Over the past three months, Paymentus' consensus EPS estimate for the current year has increased 38.2%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Core & Main belongs to the Waste Removal Services industry, which includes 19 individual stocks and currently sits at #100 in the Zacks Industry Rank. Stocks in this group have gained about 14.3% so far this year, so CNM is performing better this group in terms of year-to-date returns.
Paymentus, however, belongs to the Technology Services industry. Currently, this 173-stock industry is ranked #74. The industry has moved +13.3% so far this year.
Going forward, investors interested in Business Services stocks should continue to pay close attention to Core & Main and Paymentus as they could maintain their solid performance.
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Core & Main, Inc. (CNM) : Free Stock Analysis Report
Paymentus Holdings, Inc. (PAY) : Free Stock Analysis Report
