Analysts predict that Core-Mark Holding Company, Inc. (NASDAQ:CORE) will report $4.15 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Core-Mark’s earnings, with the highest sales estimate coming in at $4.18 billion and the lowest estimate coming in at $4.13 billion. Core-Mark posted sales of $3.84 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 8.1%. The company is scheduled to issue its next earnings results on Wednesday, March 7th.
According to Zacks, analysts expect that Core-Mark will report full-year sales of $4.15 billion for the current fiscal year, with estimates ranging from $15.74 billion to $15.79 billion. For the next financial year, analysts expect that the company will post sales of $16.92 billion per share, with estimates ranging from $16.85 billion to $16.98 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Core-Mark.
Core-Mark (NASDAQ:CORE) last announced its earnings results on Tuesday, November 7th. The business services provider reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.04). The firm had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.29 billion. Core-Mark had a net margin of 0.27% and a return on equity of 9.90%.
CORE has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Core-Mark from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a report on Monday, October 30th. Jefferies Group restated a “hold” rating and set a $32.00 price objective on shares of Core-Mark in a report on Friday, November 10th. William Blair initiated coverage on shares of Core-Mark in a report on Wednesday. They set an “outperform” rating for the company. Finally, BidaskClub downgraded shares of Core-Mark from a “hold” rating to a “sell” rating in a report on Friday, December 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $38.80.
Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in Core-Mark during the third quarter valued at approximately $117,000. Riverhead Capital Management LLC lifted its position in Core-Mark by 81.7% during the second quarter. Riverhead Capital Management LLC now owns 3,997 shares of the business services provider’s stock valued at $132,000 after purchasing an additional 1,797 shares during the last quarter. Flinton Capital Management LLC lifted its position in Core-Mark by 77.3% during the second quarter. Flinton Capital Management LLC now owns 4,368 shares of the business services provider’s stock valued at $144,000 after purchasing an additional 1,904 shares during the last quarter. Victory Capital Management Inc. lifted its position in Core-Mark by 17.7% during the second quarter. Victory Capital Management Inc. now owns 4,484 shares of the business services provider’s stock valued at $148,000 after purchasing an additional 673 shares during the last quarter. Finally, Zions Bancorporation bought a new stake in Core-Mark during the third quarter valued at approximately $161,000. Institutional investors own 98.27% of the company’s stock.
Shares of Core-Mark (NASDAQ:CORE) opened at $31.06 on Thursday. The company has a market cap of $1,458.73, a PE ratio of 34.51, a PEG ratio of 2.31 and a beta of 0.94. The company has a quick ratio of 1.12, a current ratio of 2.16 and a debt-to-equity ratio of 0.93. Core-Mark has a 1-year low of $26.08 and a 1-year high of $43.94.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Stockholders of record on Tuesday, November 28th were given a $0.10 dividend. This is a positive change from Core-Mark’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Monday, November 27th. Core-Mark’s dividend payout ratio (DPR) is 44.44%.
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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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