Brokerages expect Core-Mark Holding Company, Inc. (NASDAQ:CORE) to post earnings of $0.32 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Core-Mark’s earnings. The lowest EPS estimate is $0.30 and the highest is $0.33. Core-Mark reported earnings per share of $0.45 during the same quarter last year, which suggests a negative year-over-year growth rate of 28.9%. The firm is expected to report its next earnings report on Monday, March 1st.
On average, analysts expect that Core-Mark will report full-year earnings of $1.64 per share for the current year, with EPS estimates ranging from $1.62 to $1.67. For the next year, analysts expect that the business will report earnings of $1.89 per share, with EPS estimates ranging from $1.78 to $2.06. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Core-Mark.
Several equities research analysts have recently commented on the company. BMO Capital Markets raised Core-Mark from a “market perform” rating to an “outperform” rating and upped their target price for the company from $34.00 to $40.00 in a report on Tuesday, January 26th. Zacks Investment Research raised Core-Mark from a “sell” rating to a “hold” rating in a report on Tuesday, February 2nd. Finally, Jefferies Financial Group downgraded Core-Mark from a “buy” rating to a “hold” rating and reduced their target price for the company from $39.00 to $35.00 in a report on Friday, November 20th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Core-Mark has a consensus rating of “Buy” and an average price target of $35.80.
In related news, EVP Brian Brandon sold 2,001 shares of the stock in a transaction dated Wednesday, January 27th. The stock was sold at an average price of $34.56, for a total value of $69,154.56. Following the completion of the sale, the executive vice president now directly owns 6,503 shares of the company’s stock, valued at approximately $224,743.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Christopher M. Miller sold 2,344 shares of the stock in a transaction dated Thursday, January 7th. The stock was sold at an average price of $32.73, for a total value of $76,719.12. Following the completion of the sale, the chief financial officer now directly owns 42,829 shares of the company’s stock, valued at $1,401,793.17. The disclosure for this sale can be found here. 2.10% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in CORE. First Trust Advisors LP lifted its stake in Core-Mark by 153.5% in the 1st quarter. First Trust Advisors LP now owns 33,275 shares of the business services provider’s stock worth $1,236,000 after acquiring an additional 20,147 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Core-Mark by 3.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 103,289 shares of the business services provider’s stock worth $2,988,000 after purchasing an additional 3,572 shares in the last quarter. Bowling Portfolio Management LLC purchased a new stake in shares of Core-Mark during the 3rd quarter worth about $213,000. 6 Meridian purchased a new stake in shares of Core-Mark during the 3rd quarter worth about $201,000. Finally, Louisiana State Employees Retirement System raised its stake in shares of Core-Mark by 70.6% during the 3rd quarter. Louisiana State Employees Retirement System now owns 20,900 shares of the business services provider’s stock worth $605,000 after purchasing an additional 8,650 shares in the last quarter. 91.18% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ CORE traded up $0.23 during mid-day trading on Tuesday, hitting $31.76. 15,536 shares of the company traded hands, compared to its average volume of 246,070. Core-Mark has a 1 year low of $20.93 and a 1 year high of $36.33. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 23.80 and a beta of 0.38. The company has a quick ratio of 0.83, a current ratio of 1.98 and a debt-to-equity ratio of 0.72. The business has a 50 day moving average of $32.11 and a two-hundred day moving average of $31.20.
Core-Mark Company Profile
Core-Mark Holding Company, Inc distributes packaged consumer products to the convenience retail industry. The company sells and distributes food products, including candies, snacks, groceries, and beverages; 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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