Core-Mark (NASDAQ:CORE) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Core-Mark (NASDAQ:CORE) issued its quarterly earnings data on Wednesday, May 8th. The business services provider reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.06, MarketWatch Earnings reports. The firm had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.84 billion. Core-Mark had a return on equity of 12.03% and a net margin of 0.29%. Core-Mark’s revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.07 earnings per share. Core-Mark updated its FY19 guidance to $1.50-1.60 EPS.

CORE stock traded up $0.12 during trading on Friday, reaching $36.88. 153,764 shares of the stock traded hands, compared to its average volume of 311,074. Core-Mark has a 52-week low of $18.17 and a 52-week high of $40.38. The company has a current ratio of 1.61, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The company has a market cap of $1.69 billion, a PE ratio of 26.53, a price-to-earnings-growth ratio of 2.97 and a beta of 0.82.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Thursday, May 23rd will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Wednesday, May 22nd. Core-Mark’s dividend payout ratio (DPR) is presently 31.65%.

Several equities analysts recently issued reports on CORE shares. BidaskClub cut Core-Mark from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 10th. Zacks Investment Research raised Core-Mark from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a report on Tuesday, May 14th. Raymond James boosted their price target on Core-Mark from $36.00 to $39.00 and gave the stock an “outperform” rating in a report on Monday, March 4th. ValuEngine raised Core-Mark from a “hold” rating to a “buy” rating in a report on Friday, May 10th. Finally, TheStreet upgraded Core-Mark from a “c+” rating to a “b-” rating in a research note on Thursday, March 28th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $37.83.

In other news, Director Harvey L. Tepner sold 2,351 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $40.00, for a total value of $94,040.00. Following the completion of the sale, the director now owns 44,370 shares of the company’s stock, valued at $1,774,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP William Stein sold 7,500 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $38.27, for a total value of $287,025.00. Following the completion of the sale, the senior vice president now directly owns 94,301 shares of the company’s stock, valued at approximately $3,608,899.27. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,901 shares of company stock valued at $948,090. 2.10% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc raised its stake in Core-Mark by 86.6% during the first quarter. Versant Capital Management Inc now owns 978 shares of the business services provider’s stock valued at $36,000 after buying an additional 454 shares in the last quarter. Investors Research Corp acquired a new stake in Core-Mark during the first quarter valued at approximately $52,000. Meeder Asset Management Inc. raised its stake in Core-Mark by 1,638.8% during the first quarter. Meeder Asset Management Inc. now owns 1,478 shares of the business services provider’s stock valued at $54,000 after buying an additional 1,393 shares in the last quarter. FNY Investment Advisers LLC raised its stake in Core-Mark by 133.4% during the fourth quarter. FNY Investment Advisers LLC now owns 1,480 shares of the business services provider’s stock valued at $34,000 after buying an additional 846 shares in the last quarter. Finally, Group One Trading L.P. acquired a new stake in Core-Mark during the first quarter valued at approximately $56,000. 92.15% of the stock is owned by hedge funds and other institutional investors.

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About Core-Mark

Core-Mark Holding Company, Inc markets fresh and broad-line supply solutions to the convenience retail industry. The company sells and distributes food products, including fast food, candies, snacks, and groceries, as well as beverages and fresh products, such as sandwiches, juices, salads, produce, dairy, and bread; and non-food products comprising cigars, tobacco, alternative nicotine products, health and beauty care products, and general merchandise and equipment.

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Earnings History for Core-Mark (NASDAQ:CORE)

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