Core-Mark Holding Company, Inc. (CORE) Expected to Post Earnings of $0.43 Per Share
Wall Street analysts forecast that Core-Mark Holding Company, Inc. (NASDAQ:CORE) will report $0.43 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for Core-Mark Holding’s earnings, with the highest EPS estimate coming in at $0.43 and the lowest estimate coming in at $0.42. Core-Mark Holding reported earnings per share of $0.34 in the same quarter last year, which would suggest a positive year over year growth rate of 26.5%. The firm is expected to report its next quarterly earnings results on Monday, November 6th.
According to Zacks, analysts expect that Core-Mark Holding will report full-year earnings of $1.23 per share for the current year, with EPS estimates ranging from $1.22 to $1.23. For the next financial year, analysts expect that the business will post earnings of $1.42 per share, with EPS estimates ranging from $1.36 to $1.47. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover Core-Mark Holding.
Core-Mark Holding (NASDAQ:CORE) last released its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by $0.11. Core-Mark Holding had a return on equity of 9.70% and a net margin of 0.27%. The firm had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the previous year, the business posted $0.39 EPS. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year.
A number of brokerages have recently commented on CORE. BidaskClub cut Core-Mark Holding from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. Zacks Investment Research cut Core-Mark Holding from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 10th. Raymond James Financial, Inc. set a $35.00 target price on Core-Mark Holding and gave the stock a “buy” rating in a report on Wednesday, August 9th. Jefferies Group LLC dropped their target price on Core-Mark Holding from $38.00 to $34.00 and set a “hold” rating for the company in a report on Wednesday, August 9th. Finally, ValuEngine upgraded Core-Mark Holding from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $40.00.
Core-Mark Holding (CORE) traded up 0.11% on Friday, reaching $26.43. 98,195 shares of the company’s stock traded hands. Core-Mark Holding has a 12 month low of $26.08 and a 12 month high of $45.57. The firm has a market cap of $1.22 billion, a PE ratio of 29.70 and a beta of 0.87. The firm’s 50-day moving average is $32.82 and its 200 day moving average is $33.16.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 29th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Friday, August 25th. Core-Mark Holding’s payout ratio is currently 40.00%.
In related news, insider Eric Rolheiser sold 11,470 shares of the business’s stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $35.10, for a total transaction of $402,597.00. Following the completion of the transaction, the insider now owns 5,016 shares in the company, valued at approximately $176,061.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP William Stein sold 7,500 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $35.91, for a total value of $269,325.00. Following the transaction, the vice president now owns 73,402 shares of the company’s stock, valued at approximately $2,635,865.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,970 shares of company stock valued at $1,435,622. 2.50% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. UBS Group AG boosted its position in Core-Mark Holding by 30.6% in the first quarter. UBS Group AG now owns 3,423 shares of the business services provider’s stock worth $107,000 after buying an additional 802 shares during the last quarter. Victory Capital Management Inc. boosted its position in Core-Mark Holding by 65.1% in the first quarter. Victory Capital Management Inc. now owns 3,811 shares of the business services provider’s stock worth $119,000 after buying an additional 1,503 shares during the last quarter. Quantbot Technologies LP boosted its position in Core-Mark Holding by 550.9% in the first quarter. Quantbot Technologies LP now owns 3,821 shares of the business services provider’s stock worth $119,000 after buying an additional 3,234 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new position in Core-Mark Holding during the first quarter worth about $123,000. Finally, Riverhead Capital Management LLC boosted its position in Core-Mark Holding by 81.7% in the second quarter. Riverhead Capital Management LLC now owns 3,997 shares of the business services provider’s stock worth $132,000 after buying an additional 1,797 shares during the last quarter. Institutional investors own 98.27% of the company’s stock.
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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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