Analysts Anticipate Core-Mark Holding Company, Inc. (CORE) Will Announce Quarterly Sales of $4.31 Billion
Equities research analysts expect Core-Mark Holding Company, Inc. (NASDAQ:CORE) to announce sales of $4.31 billion for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Core-Mark Holding’s earnings, with the lowest sales estimate coming in at $4.15 billion and the highest estimate coming in at $4.47 billion. Core-Mark Holding reported sales of $3.99 billion during the same quarter last year, which indicates a positive year over year growth rate of 8%. The firm is scheduled to report its next quarterly earnings results on Monday, November 6th.
On average, analysts expect that Core-Mark Holding will report full year sales of $4.31 billion for the current year, with estimates ranging from $15.61 billion to $16.22 billion. For the next year, analysts forecast that the firm will post sales of $17.10 billion per share, with estimates ranging from $16.27 billion to $17.94 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Core-Mark Holding.
Core-Mark Holding (NASDAQ:CORE) last released its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by $0.11. Core-Mark Holding had a net margin of 0.27% and a return on equity of 9.70%. The firm had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the prior year, the business posted $0.39 earnings per share. The firm’s quarterly revenue was up 3.1% on a year-over-year basis.
Several research firms have issued reports on CORE. ValuEngine cut Core-Mark Holding from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. BidaskClub upgraded Core-Mark Holding from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Raymond James Financial, Inc. reiterated an “outperform” rating on shares of Core-Mark Holding in a research report on Wednesday, May 10th. Zacks Investment Research upgraded Core-Mark Holding from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research report on Friday, August 4th. Finally, Jefferies Group LLC set a $35.00 price objective on Core-Mark Holding and gave the stock a “hold” rating in a research report on Monday, May 8th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Core-Mark Holding presently has a consensus rating of “Hold” and an average price target of $40.00.
Core-Mark Holding (CORE) traded down 2.85% during mid-day trading on Thursday, hitting $27.97. 449,316 shares of the stock were exchanged. The firm has a market cap of $1.29 billion, a P/E ratio of 31.43 and a beta of 0.87. The company has a 50 day moving average of $34.73 and a 200 day moving average of $33.90. Core-Mark Holding has a 12-month low of $27.79 and a 12-month high of $46.98.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 29th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Friday, August 25th. Core-Mark Holding’s payout ratio is 40.00%.
In other Core-Mark Holding news, VP William Stein sold 7,500 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $35.91, for a total value of $269,325.00. Following the completion of the transaction, the vice president now owns 73,402 shares in the company, valued at $2,635,865.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas B. Perkins sold 12,000 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $34.20, for a total value of $410,400.00. Following the completion of the transaction, the insider now owns 190,666 shares of the company’s stock, valued at approximately $6,520,777.20. The disclosure for this sale can be found here. Insiders sold 40,970 shares of company stock valued at $1,435,622 in the last quarter. 2.40% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Core-Mark Holding by 120,507.9% in the first quarter. BlackRock Inc. now owns 5,661,333 shares of the business services provider’s stock worth $176,579,000 after buying an additional 5,656,639 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Core-Mark Holding by 5.5% in the first quarter. Vanguard Group Inc. now owns 4,003,793 shares of the business services provider’s stock worth $124,879,000 after buying an additional 208,935 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Core-Mark Holding by 61.2% in the first quarter. Clearbridge Investments LLC now owns 3,643,365 shares of the business services provider’s stock worth $113,637,000 after buying an additional 1,383,365 shares in the last quarter. Aberdeen Asset Management PLC UK boosted its position in shares of Core-Mark Holding by 7.5% in the second quarter. Aberdeen Asset Management PLC UK now owns 1,714,517 shares of the business services provider’s stock worth $56,682,000 after buying an additional 119,697 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Core-Mark Holding by 5.3% in the first quarter. State Street Corp now owns 1,054,214 shares of the business services provider’s stock worth $32,881,000 after buying an additional 53,322 shares in the last quarter. Institutional investors and hedge funds own 98.27% of the company’s stock.
About Core-Mark Holding
Core-Mark Holding Company, Inc is a wholesale distributor to the convenience retail industry in North America. The Company provides sales, marketing, distribution and logistics services. As of December 31, 2016, the Company offered services to over 43,000 customer locations across the United States and Canada through 30 distribution centers.
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