Wall Street brokerages forecast that Core-Mark Holding Company, Inc. (NASDAQ:CORE) will report $4.31 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Core-Mark’s earnings. The highest sales estimate is $4.34 billion and the lowest is $4.28 billion. Core-Mark reported sales of $4.23 billion in the same quarter last year, which would suggest a positive year over year growth rate of 1.9%. The firm is scheduled to issue its next earnings report on Tuesday, August 6th.
On average, analysts expect that Core-Mark will report full year sales of $16.83 billion for the current fiscal year, with estimates ranging from $16.77 billion to $16.89 billion. For the next financial year, analysts anticipate that the firm will post sales of $17.47 billion, with estimates ranging from $17.25 billion to $17.70 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Core-Mark.
Core-Mark (NASDAQ:CORE) last posted its quarterly earnings data on Wednesday, May 8th. The business services provider reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.06. The firm had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.84 billion. Core-Mark had a net margin of 0.29% and a return on equity of 12.03%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.07 EPS.
CORE has been the topic of a number of recent research reports. BidaskClub lowered shares of Core-Mark from a “buy” rating to a “hold” rating in a research note on Tuesday, April 23rd. ValuEngine lowered shares of Core-Mark from a “buy” rating to a “hold” rating in a research report on Monday, April 29th. Zacks Investment Research lowered shares of Core-Mark from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Finally, TheStreet upgraded shares of Core-Mark from a “c+” rating to a “b-” rating in a research report on Thursday, March 28th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $37.83.
NASDAQ:CORE opened at $40.81 on Thursday. The company has a fifty day moving average price of $38.29. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 1.61. Core-Mark has a 52 week low of $22.53 and a 52 week high of $40.88. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 29.36, a P/E/G ratio of 3.22 and a beta of 0.76.
The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Thursday, May 23rd were given a dividend of $0.11 per share. The ex-dividend date was Wednesday, May 22nd. This represents a $0.44 annualized dividend and a yield of 1.08%. Core-Mark’s payout ratio is presently 31.65%.
In other Core-Mark news, Director Harvey L. Tepner sold 2,351 shares of Core-Mark stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $40.00, for a total transaction of $94,040.00. Following the completion of the sale, the director now directly owns 44,370 shares in the company, valued at $1,774,800. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund raised its stake in shares of Core-Mark by 1.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 17,701 shares of the business services provider’s stock worth $657,000 after acquiring an additional 320 shares in the last quarter. Arizona State Retirement System increased its position in Core-Mark by 0.5% during the 1st quarter. Arizona State Retirement System now owns 70,761 shares of the business services provider’s stock valued at $2,627,000 after purchasing an additional 377 shares during the period. Versant Capital Management Inc increased its position in Core-Mark by 86.6% during the 1st quarter. Versant Capital Management Inc now owns 978 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 454 shares during the period. Advisor Group Inc. increased its position in Core-Mark by 32.0% during the 4th quarter. Advisor Group Inc. now owns 2,181 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 529 shares during the period. Finally, Mason Street Advisors LLC increased its position in Core-Mark by 3.8% during the 1st quarter. Mason Street Advisors LLC now owns 14,731 shares of the business services provider’s stock valued at $547,000 after purchasing an additional 538 shares during the period. Institutional investors and hedge funds own 92.15% of the company’s stock.
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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