Core-Mark Holding Company, Inc. (NASDAQ:CORE) – Research analysts at Jefferies Group reduced their Q2 2018 EPS estimates for Core-Mark Holding in a research note issued to investors on Wednesday. Jefferies Group analyst C. Mandeville now expects that the business services provider will post earnings of $0.35 per share for the quarter, down from their prior estimate of $0.48. Jefferies Group currently has a “Hold” rating and a $34.00 target price on the stock.
Other research analysts also recently issued research reports about the company. Loop Capital reaffirmed a “buy” rating and issued a $40.00 price target on shares of Core-Mark Holding in a research note on Monday, July 10th. Raymond James Financial, Inc. set a $35.00 price target on Core-Mark Holding and gave the company a “buy” rating in a research note on Wednesday. ValuEngine raised Core-Mark Holding from a “sell” rating to a “hold” rating in a research note on Tuesday. Zacks Investment Research raised Core-Mark Holding from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. Finally, BidaskClub raised Core-Mark Holding from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $40.00.
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Core-Mark Holding (NASDAQ:CORE) traded down 0.52% during midday trading on Thursday, hitting $28.64. 140,320 shares of the stock traded hands. Core-Mark Holding has a 12-month low of $27.79 and a 12-month high of $46.98. The firm’s 50 day moving average is $34.73 and its 200-day moving average is $33.90. The stock has a market capitalization of $1.33 billion, a PE ratio of 32.18 and a beta of 0.87.
Core-Mark Holding (NASDAQ:CORE) last posted its earnings results on Tuesday, August 8th. The business services provider reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $3.96 billion. During the same period in the previous year, the company posted $0.39 EPS. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 29th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Friday, August 25th. Core-Mark Holding’s dividend payout ratio (DPR) is currently 40.00%.
In other news, VP William Stein sold 7,500 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $35.91, for a total transaction of $269,325.00. Following the sale, the vice president now directly owns 73,402 shares in the company, valued at $2,635,865.82. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Scott E. Mcpherson sold 10,000 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $35.33, for a total value of $353,300.00. Following the sale, the senior vice president now owns 144,651 shares in the company, valued at $5,110,519.83. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,970 shares of company stock worth $1,435,622. Company insiders own 2.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in CORE. BlackRock Inc. boosted its stake in Core-Mark Holding by 120,507.9% in the first quarter. BlackRock Inc. now owns 5,661,333 shares of the business services provider’s stock valued at $176,579,000 after buying an additional 5,656,639 shares during the period. Clearbridge Investments LLC raised its position in Core-Mark Holding by 61.2% in the first quarter. Clearbridge Investments LLC now owns 3,643,365 shares of the business services provider’s stock worth $113,637,000 after buying an additional 1,383,365 shares in the last quarter. TimesSquare Capital Management LLC raised its position in Core-Mark Holding by 1,752.1% in the first quarter. TimesSquare Capital Management LLC now owns 837,145 shares of the business services provider’s stock worth $26,111,000 after buying an additional 791,945 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in Core-Mark Holding during the second quarter worth approximately $22,195,000. Finally, Jennison Associates LLC raised its position in Core-Mark Holding by 137.7% in the second quarter. Jennison Associates LLC now owns 788,125 shares of the business services provider’s stock worth $26,055,000 after buying an additional 456,591 shares in the last quarter. Institutional investors own 98.27% of the company’s stock.
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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