Core-Mark (CORE) Expected to Post Quarterly Sales of $3.81 Billion

Wall Street brokerages forecast that Core-Mark (NASDAQ:CORE) will report $3.81 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Core-Mark’s earnings. The highest sales estimate is $3.89 billion and the lowest is $3.75 billion. Core-Mark reported sales of $3.50 billion in the same quarter last year, which would suggest a positive year over year growth rate of 8.9%. The firm is scheduled to issue its next earnings report on Tuesday, May 8th.

On average, analysts expect that Core-Mark will report full year sales of $16.71 billion for the current fiscal year, with estimates ranging from $16.70 billion to $16.72 billion. For the next financial year, analysts anticipate that the firm will post sales of $17.38 billion per share, with estimates ranging from $17.28 billion to $17.50 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Core-Mark.

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Core-Mark (NASDAQ:CORE) last issued its quarterly earnings data on Thursday, March 1st. The business services provider reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.05. Core-Mark had a net margin of 0.21% and a return on equity of 8.84%. The company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same quarter in the prior year, the firm earned $0.45 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year.

Several brokerages have recently issued reports on CORE. Stephens downgraded shares of Core-Mark from an “overweight” rating to an “equal weight” rating in a research report on Friday, January 5th. William Blair began coverage on shares of Core-Mark in a research report on Wednesday, January 3rd. They set an “outperform” rating for the company. Zacks Investment Research raised shares of Core-Mark from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 2nd. Jefferies Group reissued a “hold” rating and set a $23.00 price objective on shares of Core-Mark in a research report on Thursday, March 1st. Finally, BMO Capital Markets set a $23.00 price objective on shares of Core-Mark and gave the stock a “hold” rating in a research report on Friday, March 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Core-Mark presently has a consensus rating of “Hold” and a consensus price target of $28.17.

Shares of CORE stock opened at $21.36 on Monday. The company has a quick ratio of 1.06, a current ratio of 2.13 and a debt-to-equity ratio of 0.92. Core-Mark has a 12-month low of $19.53 and a 12-month high of $38.37. The firm has a market cap of $1,006.58, a PE ratio of 21.36, a P/E/G ratio of 1.67 and a beta of 0.59.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Monday, March 12th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Friday, March 9th. Core-Mark’s dividend payout ratio (DPR) is currently 40.00%.

In related news, insider Eric Rolheiser sold 6,471 shares of the firm’s stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $22.50, for a total value of $145,597.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.40% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in Core-Mark in the third quarter valued at $117,000. Parametrica Management Ltd bought a new position in Core-Mark in the fourth quarter valued at $281,000. Teacher Retirement System of Texas bought a new position in Core-Mark in the fourth quarter valued at $495,000. California Public Employees Retirement System grew its position in Core-Mark by 73.3% in the third quarter. California Public Employees Retirement System now owns 18,193 shares of the business services provider’s stock valued at $585,000 after purchasing an additional 7,693 shares in the last quarter. Finally, MetLife Investment Advisors LLC acquired a new stake in Core-Mark in the fourth quarter valued at $685,000. 97.84% of the stock is owned by institutional investors and hedge funds.

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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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