Analysts Expect Core-Mark Holding Company, Inc. (CORE) Will Announce Quarterly Sales of $4.29 Billion
Brokerages expect Core-Mark Holding Company, Inc. (NASDAQ:CORE) to post $4.29 billion in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Core-Mark Holding’s earnings. The highest sales estimate is $4.30 billion and the lowest is $4.28 billion. Core-Mark Holding posted sales of $3.99 billion in the same quarter last year, which suggests a positive year over year growth rate of 7.5%. The firm is scheduled to report its next earnings results on Monday, November 6th.
According to Zacks, analysts expect that Core-Mark Holding will report full year sales of $4.29 billion for the current year, with estimates ranging from $15.70 billion to $15.73 billion. For the next year, analysts anticipate that the business will report sales of $16.89 billion per share, with estimates ranging from $16.60 billion to $17.18 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Core-Mark Holding.
Core-Mark Holding (NASDAQ:CORE) last posted its earnings results on Tuesday, August 8th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.11). Core-Mark Holding had a net margin of 0.27% and a return on equity of 9.70%. The company had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the previous year, the company posted $0.39 EPS. Core-Mark Holding’s quarterly revenue was up 3.1% compared to the same quarter last year.
A number of research firms have issued reports on CORE. Jefferies Group LLC cut their target price on shares of Core-Mark Holding from $38.00 to $34.00 and set a “hold” rating for the company in a research report on Wednesday, August 9th. Raymond James Financial, Inc. set a $35.00 target price on shares of Core-Mark Holding and gave the stock a “buy” rating in a research report on Wednesday, August 9th. BidaskClub downgraded shares of Core-Mark Holding from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. ValuEngine downgraded shares of Core-Mark Holding from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, Loop Capital reiterated a “buy” rating and issued a $40.00 target price on shares of Core-Mark Holding in a research report on Monday, July 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $40.00.
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Several institutional investors have recently added to or reduced their stakes in CORE. UBS Asset Management Americas Inc. raised its holdings in shares of Core-Mark Holding by 22.4% during the 1st quarter. UBS Asset Management Americas Inc. now owns 22,863 shares of the business services provider’s stock valued at $713,000 after purchasing an additional 4,177 shares in the last quarter. Karp Capital Management Corp bought a new position in shares of Core-Mark Holding during the 1st quarter valued at $207,000. Ameritas Investment Partners Inc. bought a new position in shares of Core-Mark Holding during the 1st quarter valued at $123,000. JPMorgan Chase & Co. raised its holdings in shares of Core-Mark Holding by 29.2% during the 1st quarter. JPMorgan Chase & Co. now owns 253,838 shares of the business services provider’s stock valued at $7,916,000 after purchasing an additional 57,313 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Core-Mark Holding by 65.1% during the 1st quarter. Victory Capital Management Inc. now owns 3,811 shares of the business services provider’s stock valued at $119,000 after purchasing an additional 1,503 shares in the last quarter. Institutional investors and hedge funds own 98.27% of the company’s stock.
Core-Mark Holding (NASDAQ CORE) opened at 33.41 on Monday. The firm has a market capitalization of $1.55 billion, a P/E ratio of 37.54 and a beta of 0.97. The firm has a 50-day moving average price of $30.87 and a 200 day moving average price of $32.70. Core-Mark Holding has a one year low of $26.08 and a one year high of $44.12.
Core-Mark Holding declared that its board has authorized a share repurchase plan on Monday, August 28th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the business services provider to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.
Core-Mark Holding 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.
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