Equities analysts expect Core-Mark Holding Company, Inc. (NASDAQ:CORE) to announce earnings of $0.46 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Core-Mark Holding’s earnings, with the lowest EPS estimate coming in at $0.45 and the highest estimate coming in at $0.47. Core-Mark Holding posted earnings of $0.45 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.2%. The business is expected to issue its next quarterly earnings results on Wednesday, March 7th.
According to Zacks, analysts expect that Core-Mark Holding will report full-year earnings of $1.19 per share for the current year, with EPS estimates ranging from $1.16 to $1.22. For the next fiscal year, analysts forecast that the firm will post earnings of $1.41 per share, with EPS estimates ranging from $1.34 to $1.47. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Core-Mark Holding.
Core-Mark Holding (NASDAQ:CORE) last posted its quarterly earnings data on Tuesday, November 7th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.04). The company had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.29 billion. Core-Mark Holding had a net margin of 0.27% and a return on equity of 9.90%.
Several equities analysts have issued reports on CORE shares. Zacks Investment Research raised shares of Core-Mark Holding from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 10th. BidaskClub downgraded shares of Core-Mark Holding from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. ValuEngine downgraded shares of Core-Mark Holding from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Raymond James Financial, Inc. set a $35.00 price objective on shares of Core-Mark Holding and gave the company a “buy” rating in a report on Wednesday, August 9th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $32.00 price objective on shares of Core-Mark Holding in a report on Friday. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $38.80.
Large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Core-Mark Holding by 1.8% in the second quarter. Vanguard Group Inc. now owns 4,075,508 shares of the business services provider’s stock worth $134,736,000 after buying an additional 71,715 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Core-Mark Holding by 21.8% in the second quarter. Bank of New York Mellon Corp now owns 915,343 shares of the business services provider’s stock worth $30,261,000 after buying an additional 164,118 shares in the last quarter. Nicholas Company Inc. lifted its stake in shares of Core-Mark Holding by 3.8% in the second quarter. Nicholas Company Inc. now owns 141,100 shares of the business services provider’s stock worth $4,664,000 after buying an additional 5,145 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Core-Mark Holding by 6.0% in the second quarter. Legal & General Group Plc now owns 129,887 shares of the business services provider’s stock worth $4,292,000 after buying an additional 7,358 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of Core-Mark Holding in the second quarter worth about $430,000. 98.75% of the stock is currently owned by hedge funds and other institutional investors.
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Core-Mark Holding (NASDAQ:CORE) traded up $0.13 on Friday, reaching $29.28. 154,100 shares of the company’s stock traded hands, compared to its average volume of 274,072. The company has a current ratio of 2.16, a quick ratio of 1.12 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $1,352.49, a P/E ratio of 25.68, a price-to-earnings-growth ratio of 2.46 and a beta of 0.98. Core-Mark Holding has a fifty-two week low of $26.08 and a fifty-two week high of $44.12.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Tuesday, November 28th will be paid a $0.10 dividend. This is an increase from Core-Mark Holding’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Monday, November 27th. Core-Mark Holding’s dividend payout ratio (DPR) is currently 40.00%.
Core-Mark Holding declared that its board has authorized a stock buyback program on Monday, August 28th that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the business services provider to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is 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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