Zacks: Analysts Anticipate Core-Mark Holding Company, Inc. (CORE) Will Post Quarterly Sales of $3.97 Billion

Zacks: Analysts Anticipate Core-Mark Holding Company, Inc. (CORE) Will Post Quarterly Sales of $3.97 Billion

According to Zacks, analysts expect that Core-Mark Holding Company will report full year sales of $3.97 billion for the current financial year, with estimates ranging from $15.54 billion to $15.61 billion. For the next year, analysts forecast that the company will report sales of $16.37 billion per share, with estimates ranging from $16.27 billion to $16.47 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Core-Mark Holding Company.

Wall Street analysts expect Core-Mark Holding Company, Inc. (NASDAQ:CORE) to announce sales of $3.97 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Core-Mark Holding Company’s earnings. The lowest sales estimate is $3.95 billion and the highest is $3.99 billion. Core-Mark Holding Company posted sales of $3.69 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 7.6%. The business is scheduled to report its next earnings report on Tuesday, August 8th.

Core-Mark Holding Company (NASDAQ:CORE) last posted its earnings results on Tuesday, May 9th. The business services provider reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.08. The company had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Core-Mark Holding Company had a net margin of 0.39% and a return on equity of 11.72%. The company’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period last year, the business earned $0.17 earnings per share.

CORE has been the topic of several recent analyst reports. TheStreet cut shares of Core-Mark Holding Company from a “b” rating to a “c+” rating in a report on Wednesday, March 8th. Zacks Investment Research cut shares of Core-Mark Holding Company from a “hold” rating to a “sell” rating in a report on Thursday, May 11th. Jefferies Group LLC set a $35.00 price target on shares of Core-Mark Holding Company and gave the company a “hold” rating in a report on Monday, May 8th. Loop Capital initiated coverage on shares of Core-Mark Holding Company in a report on Monday, May 15th. They issued a “buy” rating and a $40.00 price target on the stock. Finally, Raymond James Financial, Inc. raised shares of Core-Mark Holding Company from an “outperform” rating to a “strong-buy” rating and set a $39.00 price target on the stock in a report on Tuesday, April 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $42.20.

A number of hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG raised its stake in Core-Mark Holding Company by 30.6% in the first quarter. UBS Group AG now owns 3,423 shares of the business services provider’s stock valued at $107,000 after buying an additional 802 shares during the last quarter. Victory Capital Management Inc. raised its stake in Core-Mark Holding Company by 65.1% in the first quarter. Victory Capital Management Inc. now owns 3,811 shares of the business services provider’s stock valued at $119,000 after buying an additional 1,503 shares during the last quarter. Quantbot Technologies LP raised its stake in Core-Mark Holding Company by 550.9% in the first quarter. Quantbot Technologies LP now owns 3,821 shares of the business services provider’s stock valued at $119,000 after buying an additional 3,234 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in Core-Mark Holding Company during the first quarter valued at $123,000. Finally, State of Alaska Department of Revenue raised its stake in Core-Mark Holding Company by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 5,110 shares of the business services provider’s stock valued at $159,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 98.63% of the company’s stock.

Core-Mark Holding Company (CORE) traded down 0.67% on Wednesday, hitting $33.85. 62,335 shares of the company were exchanged. The firm has a 50 day moving average of $34.34 and a 200-day moving average of $35.58. Core-Mark Holding Company has a 52-week low of $30.00 and a 52-week high of $50.00. The stock has a market cap of $1.57 billion, a PE ratio of 30.97 and a beta of 0.69.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 22nd. Shareholders of record on Thursday, May 25th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, May 23rd. This represents a $0.36 annualized dividend and a yield of 1.06%. Core-Mark Holding Company’s payout ratio is 31.72%.

Core-Mark Holding Company Company Profile

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:CORE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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