Q3 2016 EPS Estimates for Core-Mark Holding Co. (CORE) Lowered by Analyst
Core-Mark Holding Co. (NASDAQ:CORE) – Analysts at Jefferies Group dropped their Q3 2016 earnings per share estimates for shares of Core-Mark Holding in a research note issued to investors on Friday. Jefferies Group analyst C. Mandeville now expects that the brokerage will post earnings per share of $0.43 for the quarter, down from their prior forecast of $0.44. Jefferies Group currently has a “Hold” rating and a $33.00 price target 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 has been the topic of a number of other reports. 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 on the stock in a report on Tuesday, August 30th. Stephens reissued a “buy” rating on shares of Core-Mark Holding in a research note on Monday, June 13th. Finally, Zacks Investment Research cut shares of Core-Mark Holding from a “buy” rating to a “hold” rating in a research note on Wednesday, August 31st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $60.20.
Core-Mark Holding (NASDAQ:CORE) opened at 35.47 on Monday. Core-Mark Holding has a 1-year low of $33.00 and a 1-year high of $50.00. The company has a 50-day moving average of $38.68 and a 200-day moving average of $42.46. The company has a market capitalization of $1.64 billion, a P/E ratio of 30.19 and a beta of 0.65.
Core-Mark Holding (NASDAQ:CORE) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 company earned $3.70 billion during the quarter, compared to the consensus estimate of $3.50 billion. During the same period in the previous year, the company earned $0.33 earnings per share. Core-Mark Holding’s quarterly revenue was up 31.2% on a year-over-year basis.
Several institutional investors have recently added to or reduced their stakes in CORE. Analytic Investors LLC boosted its position in Core-Mark Holding by 0.4% in the second quarter. Analytic Investors LLC now owns 13,746 shares of the company’s stock worth $644,000 after buying an additional 53 shares in the last quarter. Aperio Group LLC boosted its position 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 in the last quarter. Strs Ohio boosted its position in Core-Mark Holding by 7.7% in the second quarter. Strs Ohio now owns 15,400 shares of the company’s stock worth $721,000 after buying an additional 1,100 shares in the last quarter. Paloma Partners Management Co boosted its position in Core-Mark Holding by 27.7% in the second quarter. Paloma Partners Management Co now owns 6,055 shares of the company’s stock worth $283,000 after buying an additional 1,313 shares in the last quarter. Finally, BlackRock Inc. boosted its position in Core-Mark Holding by 175.0% in the first quarter. BlackRock Inc. now owns 2,148 shares of the company’s stock worth $175,000 after buying an additional 1,367 shares in the last quarter. 96.48% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Scott E. Mcpherson sold 5,478 shares of Core-Mark Holding 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 transaction, the senior vice president now directly owns 155,244 shares of the company’s stock, valued at approximately $6,996,847.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Scott E. Mcpherson sold 4,522 shares of Core-Mark Holding stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $45.22, for a total transaction of $204,484.84. Following the transaction, the senior vice president now directly owns 155,244 shares of the company’s stock, valued at $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. Shareholders of record on Wednesday, August 24th were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, August 22nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.90%. Core-Mark Holding’s payout ratio is currently 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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