Wall Street analysts predict that Core-Mark Holding Company, Inc. (NASDAQ:CORE) will post $4.51 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Core-Mark’s earnings. The highest sales estimate is $4.51 billion and the lowest is $4.50 billion. Core-Mark reported sales of $4.27 billion in the same quarter last year, which would indicate a positive year over year growth rate of 5.6%. The company is scheduled to report its next quarterly earnings results on Tuesday, November 5th.
On average, analysts expect that Core-Mark will report full year sales of $16.92 billion for the current financial year, with estimates ranging from $16.91 billion to $16.92 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $17.57 billion, with estimates ranging from $17.41 billion to $17.72 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Core-Mark.
Core-Mark (NASDAQ:CORE) last posted its quarterly earnings results on Wednesday, August 7th. The business services provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.06. The firm had revenue of $4.30 billion during the quarter, compared to analysts’ expectations of $4.31 billion. Core-Mark had a net margin of 0.33% and a return on equity of 13.11%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.35 earnings per share.
Several brokerages have weighed in on CORE. ValuEngine lowered shares of Core-Mark from a “hold” rating to a “sell” rating in a report on Monday, August 12th. Zacks Investment Research lowered shares of Core-Mark from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Finally, BidaskClub raised shares of Core-Mark from a “strong sell” rating to a “sell” rating in a report on Friday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Core-Mark has a consensus rating of “Hold” and a consensus target price of $38.40.
A number of large investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in Core-Mark by 9.3% in the fourth quarter. Geode Capital Management LLC now owns 680,867 shares of the business services provider’s stock valued at $15,829,000 after buying an additional 57,703 shares during the period. BNP Paribas Arbitrage SA increased its holdings in Core-Mark by 125.6% in the first quarter. BNP Paribas Arbitrage SA now owns 12,586 shares of the business services provider’s stock valued at $467,000 after buying an additional 7,008 shares in the last quarter. Rhumbline Advisers increased its holdings in Core-Mark by 2.4% in the first quarter. Rhumbline Advisers now owns 136,213 shares of the business services provider’s stock valued at $5,058,000 after buying an additional 3,136 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in Core-Mark in the first quarter valued at about $6,868,000. Finally, Texas Permanent School Fund increased its holdings in Core-Mark by 4.1% in the first quarter. Texas Permanent School Fund now owns 31,145 shares of the business services provider’s stock valued at $1,156,000 after buying an additional 1,237 shares in the last quarter. 94.54% of the stock is currently owned by hedge funds and other institutional investors.
CORE stock traded down $0.44 during mid-day trading on Tuesday, hitting $33.62. 36,703 shares of the company were exchanged, compared to its average volume of 207,503. The company has a market capitalization of $1.50 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 2.57 and a beta of 0.82. The company has a current ratio of 1.78, a quick ratio of 1.00 and a debt-to-equity ratio of 0.93. Core-Mark has a twelve month low of $22.53 and a twelve month high of $40.95. The firm has a fifty day simple moving average of $34.00 and a 200 day simple moving average of $36.57.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Thursday, August 22nd will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Wednesday, August 21st. Core-Mark’s dividend payout ratio is currently 31.65%.
Core-Mark Holding Company, Inc markets fresh and broad-line supply solutions to the convenience retail industry. The company sells and distributes food products, including fast food, candies, snacks, and groceries, as well as beverages and fresh products, such as sandwiches, juices, salads, produce, dairy, and bread; and non-food products comprising cigars, tobacco, alternative nicotine products, health and beauty care products, and general merchandise and equipment.
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