Core-Mark Holding Company, Inc. (NASDAQ:CORE) Expected to Post Quarterly Sales of $4.14 Billion

Analysts expect Core-Mark Holding Company, Inc. (NASDAQ:CORE) to post $4.14 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Core-Mark’s earnings. The lowest sales estimate is $4.09 billion and the highest is $4.19 billion. Core-Mark posted sales of $4.34 billion during the same quarter last year, which would indicate a negative year over year growth rate of 4.6%. The business is expected to announce its next earnings results on Wednesday, August 5th.

On average, analysts expect that Core-Mark will report full-year sales of $16.69 billion for the current fiscal year, with estimates ranging from $16.53 billion to $16.84 billion. For the next year, analysts expect that the firm will post sales of $17.21 billion, with estimates ranging from $16.93 billion to $17.49 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Core-Mark.

Core-Mark (NASDAQ:CORE) last announced its quarterly earnings data on Thursday, May 7th. The business services provider reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.07. The business had revenue of $3.94 billion during the quarter, compared to analyst estimates of $3.83 billion. Core-Mark had a net margin of 0.36% and a return on equity of 13.94%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.14 earnings per share.

CORE has been the subject of a number of research analyst reports. Jefferies Financial Group raised shares of Core-Mark from a “hold” rating to a “buy” rating and cut their price objective for the company from $29.00 to $28.00 in a research report on Monday, February 10th. BidaskClub lowered shares of Core-Mark from a “buy” rating to a “hold” rating in a research report on Friday, May 8th. Stephens upped their target price on shares of Core-Mark from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Tuesday, March 3rd. Finally, Zacks Investment Research cut shares of Core-Mark from a “buy” rating to a “hold” rating in a research note on Tuesday, May 5th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Core-Mark currently has a consensus rating of “Hold” and a consensus target price of $31.40.

Institutional investors have recently modified their holdings of the business. Bank of America Corp DE grew its stake in Core-Mark by 3.4% during the fourth quarter. Bank of America Corp DE now owns 322,104 shares of the business services provider’s stock worth $8,757,000 after buying an additional 10,655 shares during the last quarter. State Street Corp grew its stake in shares of Core-Mark by 2.5% during the third quarter. State Street Corp now owns 1,366,662 shares of the business services provider’s stock valued at $43,890,000 after purchasing an additional 32,735 shares during the last quarter. Algert Global LLC lifted its holdings in Core-Mark by 112.8% in the fourth quarter. Algert Global LLC now owns 53,804 shares of the business services provider’s stock valued at $1,463,000 after buying an additional 28,524 shares during the period. UBS Group AG lifted its holdings in Core-Mark by 67.7% in the fourth quarter. UBS Group AG now owns 59,674 shares of the business services provider’s stock valued at $1,622,000 after buying an additional 24,095 shares during the period. Finally, Fieldpoint Private Securities LLC lifted its holdings in Core-Mark by 76.0% in the fourth quarter. Fieldpoint Private Securities LLC now owns 1,406 shares of the business services provider’s stock valued at $38,000 after buying an additional 607 shares during the period. 91.98% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CORE traded up $1.54 during trading hours on Wednesday, reaching $28.66. 242,470 shares of the company traded hands, compared to its average volume of 313,811. The stock’s fifty day moving average is $27.21 and its 200 day moving average is $25.93. The stock has a market cap of $1.15 billion, a P/E ratio of 21.83 and a beta of 0.23. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.79 and a current ratio of 1.80. Core-Mark has a 1-year low of $20.93 and a 1-year high of $40.95.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Shareholders of record on Friday, May 22nd will be paid a dividend of $0.12 per share. The ex-dividend date is Thursday, May 21st. This represents a $0.48 annualized dividend and a yield of 1.67%. Core-Mark’s dividend payout ratio is 28.40%.

Core-Mark Company Profile

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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Earnings History and Estimates for Core-Mark (NASDAQ:CORE)

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