Are Business Services Stocks Lagging Core & Main (CNM) This Year?
Investors interested in Business Services stocks should always be looking to find the best-performing companies in the group. 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 330 individual stocks in the Business Services sector. Collectively, these companies sit at #10 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Core & Main is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CNM's full-year earnings has moved 4.4% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, CNM has returned 64.6% so far this year. Meanwhile, stocks in the Business Services group have gained about 12% on average. As we can see, Core & Main is performing better than its sector in the calendar year.
One other Business Services stock that has outperformed the sector so far this year is HIVE Blockchain (HIVE). The stock is up 293.1% year-to-date.
For HIVE Blockchain, the consensus EPS estimate for the current year has increased 55.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Core & Main belongs to the Waste Removal Services industry, a group that includes 17 individual companies and currently sits at #156 in the Zacks Industry Rank. On average, this group has gained an average of 12.6% so far this year, meaning that CNM is performing better in terms of year-to-date returns.
HIVE Blockchain, however, belongs to the Technology Services industry. Currently, this 187-stock industry is ranked #111. The industry has moved +21.9% so far this year.
Core & Main and HIVE Blockchain could continue their solid performance, so investors interested in Business Services stocks should continue to pay close attention to these stocks.
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