Core-Mark (CORE) closed at $28.18 in the latest trading session, marking a -1.95% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.81%. Meanwhile, the Dow lost 2.56%, and the Nasdaq, a tech-heavy index, lost 3.2%.
Prior to today's trading, shares of the wholesale consumer products distributor had gained 7.36% over the past month. This has lagged the Business Services sector's gain of 12.76% and the S&P 500's gain of 12.68% in that time.
Wall Street will be looking for positivity from CORE as it approaches its next earnings report date. This is expected to be May 7, 2020. In that report, analysts expect CORE to post earnings of $0.13 per share. This would mark a year-over-year decline of 7.14%. Meanwhile, our latest consensus estimate is calling for revenue of $3.88 billion, up 3.23% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.80 per share and revenue of $16.89 billion. These totals would mark changes of +6.51% and +1.29%, respectively, from last year.
Any recent changes to analyst estimates for CORE should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 2.27% higher. CORE is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note CORE's current valuation metrics, including its Forward P/E ratio of 15.97. This valuation marks a premium compared to its industry's average Forward P/E of 15.52.
The Business - Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 54, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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