Jefferies Group Equities Analysts Cut Earnings Estimates for Core-Mark Holding Co. (CORE)
Core-Mark Holding Co. (NASDAQ:CORE) – Analysts at Jefferies Group dropped their Q3 2016 earnings estimates for Core-Mark Holding in a report released on Friday. Jefferies Group analyst C. Mandeville now anticipates that the brokerage will earn $0.43 per share for the quarter, down from their prior forecast of $0.44. Jefferies Group currently has a “Hold” rating and a $33.00 target price 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 issued its earnings results on Tuesday, August 9th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by $0.03. Core-Mark Holding had a return on equity of 12.18% and a net margin of 0.44%. The firm earned $3.70 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same period in the previous year, the company earned $0.33 EPS. Core-Mark Holding’s revenue for the quarter was up 31.2% on a year-over-year basis.
Other analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Core-Mark Holding from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Stephens reissued a “buy” rating on shares of Core-Mark Holding in a research note on Monday, June 13th. Finally, Raymond James Financial Inc. dropped 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 note on Tuesday, August 30th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Core-Mark Holding currently has a consensus rating of “Buy” and an average price target of $60.20.
Core-Mark Holding (NASDAQ:CORE) opened at 35.85 on Monday. The firm has a 50-day moving average price of $38.91 and a 200-day moving average price of $42.50. The firm has a market cap of $1.66 billion, a PE ratio of 30.51 and a beta of 0.65. Core-Mark Holding has a one year low of $32.10 and a one year high of $50.00.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 24th were issued a $0.08 dividend. The ex-dividend date was Monday, August 22nd. This represents a $0.32 annualized dividend and a dividend yield of 0.89%. Core-Mark Holding’s dividend payout ratio is currently 27.35%.
In other news, SVP Scott E. Mcpherson sold 4,522 shares of the company’s stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $45.22, for a total value of $204,484.84. Following the transaction, the senior vice president now directly owns 155,244 shares in the company, valued at approximately $7,020,133.68. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Scott E. Mcpherson sold 5,478 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $45.07, for a total transaction of $246,893.46. Following the completion of the transaction, the senior vice president now owns 155,244 shares in the company, valued at $6,996,847.08. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of CORE. Norges Bank acquired a new stake in Core-Mark Holding during the fourth quarter worth about $8,593,000. Aperio Group LLC raised its stake in Core-Mark Holding by 36.7% in the first quarter. Aperio Group LLC now owns 3,647 shares of the company’s stock worth $297,000 after buying an additional 980 shares during the period. Virginia Retirement System acquired a new stake in Core-Mark Holding during the first quarter worth about $343,000. TIAA CREF Investment Management LLC raised its stake in Core-Mark Holding by 6.1% in the first quarter. TIAA CREF Investment Management LLC now owns 99,577 shares of the company’s stock worth $8,122,000 after buying an additional 5,722 shares during the period. Finally, Prudential Financial Inc. raised its stake in Core-Mark Holding by 6.1% in the first quarter. Prudential Financial Inc. now owns 98,749 shares of the company’s stock worth $8,054,000 after buying an additional 5,635 shares during the period. Hedge funds and other institutional investors own 96.48% of the company’s stock.
About Core-Mark Holding
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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