Analysts Anticipate Core-Mark Holding Company, Inc. (CORE) Will Post Quarterly Sales of $4.11 Billion

Analysts forecast that Core-Mark Holding Company, Inc. (NASDAQ:CORE) will post $4.11 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Core-Mark’s earnings, with the highest sales estimate coming in at $4.13 billion and the lowest estimate coming in at $4.09 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 7%. The company is scheduled to report its next earnings results on Wednesday, March 7th.

According to Zacks, analysts expect that Core-Mark will report full year sales of $4.11 billion for the current year, with estimates ranging from $15.71 billion to $15.75 billion. For the next year, analysts expect that the company will report sales of $16.66 billion per share, with estimates ranging from $16.64 billion to $16.68 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Core-Mark.

Core-Mark (NASDAQ:CORE) last announced its quarterly 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). Core-Mark had a return on equity of 9.90% and a net margin of 0.27%. The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.29 billion.

Several brokerages recently commented on CORE. BidaskClub lowered shares of Core-Mark from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 31st. BMO Capital Markets began coverage on shares of Core-Mark in a research note on Friday, January 5th. They set a “market perform” rating and a $33.00 price target on the stock. Raymond James Financial upgraded shares of Core-Mark from an “outperform” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Friday, January 5th. Loop Capital set a $31.00 price target on shares of Core-Mark and gave the stock a “buy” rating in a research note on Monday, January 8th. They noted that the move was a valuation call. Finally, UBS Group upgraded shares of Core-Mark from an “outperform” rating to a “strong-buy” rating in a research note on Friday, January 5th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $30.50.

A number of hedge funds and other institutional investors have recently bought and sold shares of CORE. Teachers Advisors LLC increased its stake in Core-Mark by 2.6% in the second quarter. Teachers Advisors LLC now owns 82,491 shares of the business services provider’s stock valued at $2,727,000 after purchasing an additional 2,094 shares during the period. Ameriprise Financial Inc. increased its stake in Core-Mark by 3.5% in the second quarter. Ameriprise Financial Inc. now owns 265,697 shares of the business services provider’s stock valued at $8,783,000 after purchasing an additional 8,957 shares during the period. Nationwide Fund Advisors increased its stake in Core-Mark by 22.9% in the second quarter. Nationwide Fund Advisors now owns 57,227 shares of the business services provider’s stock valued at $1,892,000 after purchasing an additional 10,682 shares during the period. Amalgamated Bank acquired a new position in Core-Mark in the second quarter valued at $209,000. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Core-Mark by 28.7% during the second quarter. UBS Asset Management Americas Inc. now owns 29,433 shares of the business services provider’s stock worth $973,000 after acquiring an additional 6,570 shares during the period.

Shares of Core-Mark (NASDAQ:CORE) opened at $20.50 on Wednesday. Core-Mark has a one year low of $20.16 and a one year high of $38.37. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.12 and a current ratio of 2.16. The company has a market cap of $966.33, a price-to-earnings ratio of 22.78, a P/E/G ratio of 1.55 and a beta of 0.58.

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About Core-Mark

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

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