Q4 2016 EPS Estimates for Core-Mark Holding Co. Boosted by Analyst (CORE)
Core-Mark Holding Co. (NASDAQ:CORE) – Analysts at Jefferies Group raised their Q4 2016 earnings per share (EPS) estimates for shares of Core-Mark Holding in a research note issued to investors on Monday. Jefferies Group analyst C. Mandeville now anticipates that the firm will post earnings of $0.49 per share for the quarter, up from their prior forecast of $0.42. Jefferies Group has a “Hold” rating and a $33.00 price target on the stock. Jefferies Group also issued estimates for Core-Mark Holding’s Q3 2017 earnings at $0.47 EPS, Q4 2017 earnings at $0.48 EPS, FY2019 earnings at $1.84 EPS and FY2020 earnings at $2.01 EPS.
Several other research firms have also weighed in on CORE. Zacks Investment Research lowered Core-Mark Holding from a “buy” rating to a “hold” rating in a research report on Wednesday, August 31st. Raymond James Financial Inc. dropped their price target on Core-Mark Holding from $51.00 to $46.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 30th.
Core-Mark Holding (NASDAQ:CORE) opened at 33.31 on Wednesday. Core-Mark Holding has a 12 month low of $31.54 and a 12 month high of $50.00. The firm has a 50 day moving average price of $35.04 and a 200-day moving average price of $41.43. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 28.35 and a beta of 0.65.
Core-Mark Holding (NASDAQ:CORE) last released its quarterly earnings results on Monday, November 7th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.42 by $0.08. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $3.94 billion. Core-Mark Holding had a return on equity of 11.72% and a net margin of 0.39%. The business’s revenue was up 33.5% on a year-over-year basis. During the same period last year, the firm posted $0.36 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 23rd will be given a $0.09 dividend. This is a positive change from Core-Mark Holding’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 1.08%. The ex-dividend date is Monday, November 21st. Core-Mark Holding’s dividend payout ratio is presently 28.19%.
In other news, SVP Scott E. Mcpherson sold 5,478 shares of the stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $45.07, for a total transaction of $246,893.46. Following the transaction, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Scott E. Mcpherson sold 4,522 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of CORE. Vanguard Group Inc. raised its position in shares of Core-Mark Holding by 110.0% in the second quarter. Vanguard Group Inc. now owns 3,532,723 shares of the company’s stock worth $165,543,000 after buying an additional 1,850,417 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Core-Mark Holding by 105.3% in the second quarter. BlackRock Fund Advisors now owns 2,953,441 shares of the company’s stock worth $138,398,000 after buying an additional 1,514,838 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Core-Mark Holding by 83.3% in the second quarter. Dimensional Fund Advisors LP now owns 3,065,104 shares of the company’s stock worth $143,627,000 after buying an additional 1,393,345 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new position in shares of Core-Mark Holding during the third quarter worth approximately $28,640,000. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of Core-Mark Holding by 117.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,361,940 shares of the company’s stock worth $63,821,000 after buying an additional 736,329 shares in the last quarter. 98.16% of the stock is currently owned by institutional investors and hedge funds.
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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