Core-Mark Holding Company, Inc. (NASDAQ:CORE) – Analysts at Jefferies Group dropped their FY2017 EPS estimates for shares of Core-Mark Holding in a report released on Wednesday. Jefferies Group analyst C. Mandeville now expects that the business services provider will post earnings of $1.16 per share for the year, down from their prior estimate of $1.23. Jefferies Group currently has a “Hold” rating and a $32.00 price objective on the stock. Jefferies Group also issued estimates for Core-Mark Holding’s Q4 2017 earnings at $0.47 EPS, Q1 2018 earnings at $0.06 EPS, FY2018 earnings at $1.34 EPS, FY2020 earnings at $1.83 EPS and FY2021 earnings at $1.85 EPS.
Several other analysts also recently commented on CORE. ValuEngine downgraded shares of Core-Mark Holding from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Zacks Investment Research upgraded shares of Core-Mark Holding from a “hold” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a report on Friday, August 4th. Raymond James Financial, Inc. set a $35.00 target price on shares of Core-Mark Holding and gave the stock a “buy” rating in a report on Wednesday, August 9th. Finally, BidaskClub downgraded shares of Core-Mark Holding from a “hold” rating to a “sell” rating in a report on Saturday, August 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $38.80.
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Shares of Core-Mark Holding (CORE) opened at $29.28 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.97 and a current ratio of 2.16. The company has a market cap of $1,352.47, a P/E ratio of 25.68, a price-to-earnings-growth ratio of 2.46 and a beta of 0.98. Core-Mark Holding has a fifty-two week low of $26.08 and a fifty-two week high of $44.12.
Core-Mark Holding (NASDAQ:CORE) last announced its earnings results on Tuesday, November 7th. The business services provider reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.29 billion. Core-Mark Holding had a return on equity of 9.90% and a net margin of 0.27%.
Several institutional investors and hedge funds have recently modified their holdings of CORE. BlackRock Inc. grew its stake in shares of Core-Mark Holding by 120,507.9% during the 1st quarter. BlackRock Inc. now owns 5,661,333 shares of the business services provider’s stock worth $176,579,000 after acquiring an additional 5,656,639 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Core-Mark Holding during the 2nd quarter worth approximately $22,195,000. FMR LLC bought a new position in shares of Core-Mark Holding during the 2nd quarter worth approximately $17,929,000. Jennison Associates LLC grew its stake in shares of Core-Mark Holding by 137.7% during the 2nd quarter. Jennison Associates LLC now owns 788,125 shares of the business services provider’s stock worth $26,055,000 after acquiring an additional 456,591 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Core-Mark Holding by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 4,003,793 shares of the business services provider’s stock worth $124,879,000 after acquiring an additional 208,935 shares in the last quarter. 99.47% of the stock is owned by institutional investors.
Core-Mark Holding declared that its board has authorized a stock repurchase plan on Monday, August 28th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the business services provider to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
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 paid a dividend of $0.10 per share. 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 is Monday, November 27th. Core-Mark Holding’s dividend payout ratio (DPR) is currently 40.00%.
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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