Core-Mark Holding Company, Inc. (NASDAQ:CORE) Expected to Post Quarterly Sales of $4.31 Billion

Brokerages forecast that Core-Mark Holding Company, Inc. (NASDAQ:CORE) will post sales of $4.31 billion for the current quarter, Zacks 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 posted sales of $4.23 billion in the same quarter last year, which suggests 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 financial year, with estimates ranging from $16.77 billion to $16.89 billion. For the next fiscal year, analysts anticipate that the company will post sales of $17.47 billion, with estimates ranging from $17.25 billion to $17.70 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Core-Mark.

Core-Mark (NASDAQ:CORE) last announced its quarterly earnings results on Wednesday, May 8th. The business services provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.06. The firm had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.84 billion. Core-Mark had a return on equity of 12.03% and a net margin of 0.29%. Core-Mark’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.07 earnings per share.

A number of research firms have weighed in on CORE. ValuEngine upgraded Core-Mark from a “hold” rating to a “buy” rating in a report on Tuesday, March 5th. BidaskClub lowered Core-Mark from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. BMO Capital Markets upped their target price on Core-Mark to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, March 5th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered Core-Mark from a “buy” rating to a “hold” rating in a report on Tuesday, May 7th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Core-Mark has a consensus rating of “Buy” and an average target price of $37.83.

In related news, Director Harvey L. Tepner sold 2,351 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $40.00, for a total value of $94,040.00. Following the transaction, the director now directly owns 44,370 shares of the company’s stock, valued at approximately $1,774,800. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Harvey L. Tepner sold 1,000 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $38.25, for a total value of $38,250.00. Following the completion of the transaction, the director now directly owns 48,370 shares in the company, valued at $1,850,152.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,351 shares of company stock worth $242,240. 2.10% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc increased its position in shares of Core-Mark by 86.6% in the 1st quarter. Versant Capital Management Inc now owns 978 shares of the business services provider’s stock valued at $36,000 after acquiring an additional 454 shares during the period. Advisor Group Inc. increased its position in shares of Core-Mark by 32.0% in the 4th quarter. Advisor Group Inc. now owns 2,181 shares of the business services provider’s stock valued at $51,000 after acquiring an additional 529 shares during the period. Investors Research Corp acquired a new position in shares of Core-Mark in the 1st quarter valued at $52,000. Meeder Asset Management Inc. increased its position in shares of Core-Mark by 1,638.8% in the 1st quarter. Meeder Asset Management Inc. now owns 1,478 shares of the business services provider’s stock valued at $54,000 after acquiring an additional 1,393 shares during the period. Finally, Group One Trading L.P. acquired a new position in shares of Core-Mark in the 1st quarter valued at $56,000. 92.15% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ CORE traded down $1.18 during trading hours on Tuesday, reaching $37.93. The stock had a trading volume of 149,674 shares, compared to its average volume of 211,627. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 1.61. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 27.29, a PEG ratio of 2.99 and a beta of 0.76. Core-Mark has a 52-week low of $20.31 and a 52-week high of $40.38.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Thursday, May 23rd were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Wednesday, May 22nd. Core-Mark’s payout ratio is presently 31.65%.

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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