Core-Mark Holding Co. (NASDAQ:CORE) – Equities researchers at Jefferies Group lowered their Q3 2016 earnings estimates for shares of Core-Mark Holding in a report issued on Friday. Jefferies Group analyst C. Mandeville now forecasts that the firm will earn $0.43 per share for the quarter, down from their prior forecast of $0.44. Jefferies Group has a “Hold” rating and a $33.00 price objective on the stock. Jefferies Group also issued estimates for Core-Mark Holding’s Q4 2016 earnings at $0.42 EPS, FY2016 earnings at $1.40 EPS, Q2 2017 earnings at $0.47 EPS, Q3 2017 earnings at $0.54 EPS, Q4 2017 earnings at $0.42 EPS and FY2020 earnings at $2.04 EPS.
Core-Mark Holding (NASDAQ:CORE) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by $0.03. Core-Mark Holding had a net margin of 0.44% and a return on equity of 12.18%. The business earned $3.70 billion during the quarter, compared to the consensus estimate of $3.50 billion. The firm’s revenue was up 31.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.33 EPS.
Other research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Core-Mark Holding from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Stephens restated a “buy” rating on shares of Core-Mark Holding in a research report on Monday, June 13th. Finally, Raymond James Financial Inc. reduced their price target on shares of Core-Mark Holding from $51.00 to $46.00 and set an “outperform” rating for the company in a research report on Tuesday, August 30th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $60.20.
Shares of Core-Mark Holding (NASDAQ:CORE) opened at 35.85 on Monday. The firm has a 50-day moving average of $38.91 and a 200 day moving average of $42.50. The company has a market cap of $1.66 billion, a P/E ratio of 30.51 and a beta of 0.65. Core-Mark Holding has a 52 week low of $32.10 and a 52 week high of $50.00.
A number of hedge funds have recently made changes to their positions in CORE. Springbok Capital Management LLC boosted its stake in Core-Mark Holding by 5,072.4% in the first quarter. Springbok Capital Management LLC now owns 1,500 shares of the company’s stock valued at $122,000 after buying an additional 1,471 shares during the period. BlackRock Inc. boosted its stake in Core-Mark Holding by 175.0% in the first quarter. BlackRock Inc. now owns 2,148 shares of the company’s stock valued at $175,000 after buying an additional 1,367 shares during the period. Barclays PLC boosted its stake in Core-Mark Holding by 13,593.8% in the second quarter. Barclays PLC now owns 2,191 shares of the company’s stock valued at $103,000 after buying an additional 2,175 shares during the period. Sei Investments Co. boosted its stake in Core-Mark Holding by 466.2% in the second quarter. Sei Investments Co. now owns 2,712 shares of the company’s stock valued at $127,000 after buying an additional 2,233 shares during the period. Finally, Bank of Montreal Can purchased a new stake in Core-Mark Holding during the second quarter valued at $147,000. 96.48% of the stock is owned by institutional investors.
In related news, SVP Scott E. Mcpherson sold 5,478 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $45.07, for a total transaction of $246,893.46. Following the completion of the sale, the senior vice president now owns 155,244 shares of the company’s stock, valued at approximately $6,996,847.08. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Scott E. Mcpherson sold 4,522 shares of the company’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $45.22, for a total transaction of $204,484.84. Following the sale, the senior vice president now directly owns 155,244 shares of the company’s stock, valued at approximately $7,020,133.68. The disclosure for this sale can be found here. Corporate insiders own 2.40% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 24th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $0.32 annualized dividend and a yield of 0.89%. Core-Mark Holding’s dividend payout ratio is presently 27.35%.
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 to over 36,500 customer locations across the United States and Canada through over 30 distribution centers. The Company’s segments include the United States, Canada and Corporate.
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