Core-Mark Holding Company, Inc. (CORE) Given “Hold” Rating at Jefferies Group LLC
Jefferies Group LLC reaffirmed their hold rating on shares of Core-Mark Holding Company, Inc. (NASDAQ:CORE) in a research note released on Friday. Jefferies Group LLC currently has a $32.00 target price on the stock. Jefferies Group also issued estimates for Core-Mark Holding’s Q4 2017 earnings at $0.47 EPS, FY2017 earnings at $1.16 EPS, Q1 2018 earnings at $0.06 EPS, Q2 2018 earnings at $0.29 EPS, Q3 2018 earnings at $0.37 EPS, Q4 2018 earnings at $0.62 EPS, FY2018 earnings at $1.34 EPS, FY2019 earnings at $1.53 EPS, FY2020 earnings at $1.83 EPS and FY2021 earnings at $1.85 EPS.
A number of other research firms have also recently weighed in on CORE. Zacks Investment Research raised Core-Mark Holding from a strong sell rating to a hold rating in a research report on Tuesday, October 10th. BidaskClub cut Core-Mark Holding from a hold rating to a sell rating in a research report on Saturday, August 12th. ValuEngine raised Core-Mark Holding from a sell rating to a hold rating in a research report on Tuesday, August 8th. Finally, Raymond James Financial, Inc. set a $35.00 price objective on Core-Mark Holding and gave the stock a buy rating in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Core-Mark Holding presently has an average rating of Hold and an average price target of C$38.80.
Core-Mark Holding (NASDAQ:CORE) opened at C$29.28 on Friday. The stock has a market capitalization of $1,352.49, a P/E ratio of 25.68, a P/E/G ratio of 2.46 and a beta of 0.98. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.12 and a current ratio of 2.16. Core-Mark Holding has a 12 month low of C$26.08 and a 12 month high of C$44.12.
Core-Mark Holding (NASDAQ:CORE) last released its quarterly earnings results on Tuesday, November 7th. The company reported C$0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.41 by C($0.04). The firm had revenue of C$4.31 billion for the quarter, compared to analysts’ expectations of C$4.29 billion. Core-Mark Holding had a return on equity of 9.90% and a net margin of 0.27%. analysts expect that Core-Mark Holding will post 1.19 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Tuesday, November 28th will be issued a $0.10 dividend. This is a boost from Core-Mark Holding’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Monday, November 27th. Core-Mark Holding’s dividend payout ratio (DPR) is currently 40.00%.
Core-Mark Holding announced that its board has approved a stock repurchase plan on Monday, August 28th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the company to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Core-Mark Holding by 120,507.9% in the 1st quarter. BlackRock Inc. now owns 5,661,333 shares of the company’s stock valued at $176,579,000 after buying an additional 5,656,639 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Core-Mark Holding by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 4,075,508 shares of the company’s stock valued at $134,736,000 after buying an additional 71,715 shares during the period. Aberdeen Asset Management PLC UK lifted its holdings in shares of Core-Mark Holding by 7.5% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 1,714,517 shares of the company’s stock valued at $56,682,000 after buying an additional 119,697 shares during the period. State Street Corp lifted its holdings in shares of Core-Mark Holding by 4.1% in the 2nd quarter. State Street Corp now owns 1,097,819 shares of the company’s stock valued at $36,293,000 after buying an additional 43,605 shares during the period. Finally, Macquarie Group Ltd. lifted its holdings in shares of Core-Mark Holding by 6.8% in the 3rd quarter. Macquarie Group Ltd. now owns 1,036,747 shares of the company’s stock valued at $33,321,000 after buying an additional 66,418 shares during the period. 98.75% of the stock is owned by institutional investors and hedge funds.
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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