Core-Mark Holding Company, Inc. (CORE) Expected to Announce Quarterly Sales of $4.48 Billion

Brokerages expect Core-Mark Holding Company, Inc. (NASDAQ:CORE) to report sales of $4.48 billion for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Core-Mark’s earnings. The lowest sales estimate is $4.46 billion and the highest is $4.52 billion. Core-Mark posted sales of $4.31 billion during the same quarter last year, which would indicate a positive year over year growth rate of 3.9%. The business is scheduled to issue its next earnings report on Tuesday, November 6th.

According to Zacks, analysts expect that Core-Mark will report full-year sales of $16.73 billion for the current financial year, with estimates ranging from $16.71 billion to $16.75 billion. For the next year, analysts anticipate that the firm will report sales of $17.49 billion, with estimates ranging from $17.28 billion to $17.67 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Core-Mark.

Core-Mark (NASDAQ:CORE) last released its earnings results on Tuesday, August 7th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.14 billion. Core-Mark had a return on equity of 9.56% and a net margin of 0.21%.

A number of research firms recently weighed in on CORE. BidaskClub upgraded Core-Mark from a “hold” rating to a “buy” rating in a research report on Thursday, June 28th. Zacks Investment Research lowered Core-Mark from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. Raymond James lowered Core-Mark from a “strong-buy” rating to an “outperform” rating and increased their price target for the company from $33.00 to $40.00 in a research report on Friday, September 7th. Sidoti lowered Core-Mark from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 11th. Finally, Stephens upgraded Core-Mark from an “equal weight” rating to an “overweight” rating and set a $35.00 price target for the company in a research report on Wednesday, August 8th. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $34.33.

Several large investors have recently added to or reduced their stakes in CORE. SG Americas Securities LLC acquired a new position in shares of Core-Mark in the 1st quarter valued at $952,000. Victory Capital Management Inc. boosted its position in Core-Mark by 318.1% during the 1st quarter. Victory Capital Management Inc. now owns 20,469 shares of the business services provider’s stock worth $435,000 after acquiring an additional 15,573 shares during the period. Prudential Financial Inc. boosted its position in Core-Mark by 6.3% during the 1st quarter. Prudential Financial Inc. now owns 81,068 shares of the business services provider’s stock worth $1,724,000 after acquiring an additional 4,800 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Core-Mark by 10.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 358,161 shares of the business services provider’s stock worth $7,615,000 after acquiring an additional 35,181 shares during the period. Finally, Engineers Gate Manager LP acquired a new stake in Core-Mark during the 1st quarter worth about $718,000. Institutional investors and hedge funds own 95.32% of the company’s stock.

NASDAQ:CORE traded up $0.24 during mid-day trading on Tuesday, reaching $33.53. 236,000 shares of the stock were exchanged, compared to its average volume of 403,189. The firm has a market cap of $1.57 billion, a P/E ratio of 33.85, a PEG ratio of 2.10 and a beta of 0.83. Core-Mark has a 1-year low of $17.10 and a 1-year high of $38.16. The company has a quick ratio of 1.14, a current ratio of 1.92 and a debt-to-equity ratio of 0.66.

The business also recently declared a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Tuesday, August 28th were given a $0.10 dividend. The ex-dividend date of this dividend was Monday, August 27th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.19%. Core-Mark’s dividend payout ratio (DPR) is 40.00%.

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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Earnings History and Estimates for Core-Mark (NASDAQ:CORE)

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