Wall Street brokerages forecast that Core-Mark (NASDAQ:CORE) will post $4.14 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Core-Mark’s earnings, with estimates ranging from $4.11 billion to $4.19 billion. Core-Mark posted sales of $3.80 billion in the same quarter last year, which would indicate a positive year over year growth rate of 8.9%. The company is scheduled to announce its next earnings report on Tuesday, August 14th.
On average, analysts expect that Core-Mark will report full-year sales of $16.70 billion for the current financial year, with estimates ranging from $16.66 billion to $16.73 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $17.42 billion per share, with estimates ranging from $17.31 billion to $17.63 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Core-Mark.
Core-Mark (NASDAQ:CORE) last announced its earnings results on Tuesday, May 8th. The business services provider reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.01. Core-Mark had a net margin of 0.19% and a return on equity of 8.47%. The business had revenue of $3.81 billion during the quarter, compared to analysts’ expectations of $3.80 billion. During the same quarter in the prior year, the company posted $0.11 earnings per share. The firm’s revenue was up 8.6% on a year-over-year basis.
CORE has been the subject of several recent research reports. BMO Capital Markets reduced their target price on shares of Core-Mark from $23.00 to $21.00 and set a “hold” rating for the company in a report on Wednesday, May 9th. Zacks Investment Research upgraded shares of Core-Mark from a “sell” rating to a “hold” rating in a report on Friday, March 9th. Jefferies Group restated a “hold” rating and set a $23.00 target price on shares of Core-Mark in a report on Thursday, March 1st. Stephens set a $23.00 price target on shares of Core-Mark and gave the stock a “hold” rating in a research report on Friday, March 2nd. Finally, ValuEngine lowered shares of Core-Mark from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $27.83.
Shares of Core-Mark opened at $18.45 on Monday, according to MarketBeat Ratings. Core-Mark has a 12 month low of $17.10 and a 12 month high of $38.20. The firm has a market cap of $851.54 million, a P/E ratio of 18.83, a price-to-earnings-growth ratio of 1.20 and a beta of 0.59. The company has a quick ratio of 1.07, a current ratio of 2.09 and a debt-to-equity ratio of 0.81.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Thursday, May 24th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Wednesday, May 23rd. Core-Mark’s dividend payout ratio (DPR) is currently 40.00%.
In other Core-Mark news, insider Eric Rolheiser sold 6,471 shares of the company’s stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $22.50, for a total transaction of $145,597.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.00% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Parametrica Management Ltd bought a new position in shares of Core-Mark in the fourth quarter valued at about $281,000. Cubist Systematic Strategies LLC bought a new position in shares of Core-Mark in the first quarter valued at about $249,000. Aperio Group LLC raised its position in shares of Core-Mark by 63.1% in the first quarter. Aperio Group LLC now owns 12,868 shares of the business services provider’s stock valued at $274,000 after purchasing an additional 4,979 shares during the period. Barclays PLC raised its position in shares of Core-Mark by 47.0% in the first quarter. Barclays PLC now owns 14,285 shares of the business services provider’s stock valued at $303,000 after purchasing an additional 4,569 shares during the period. Finally, Teacher Retirement System of Texas bought a new position in shares of Core-Mark in the fourth quarter valued at about $495,000. 94.89% of the stock is currently owned by institutional investors.
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 various food/non-food products, including cigarettes, fast food, candies, snacks, groceries, fresh products, dairy products, breads, beverages, other tobacco products, general merchandise and equipment, and health and beauty care products.
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