Zacks: Core-Mark Holding Co. (NASDAQ:CORE) Receives Average Recommendation of “Hold” from Analysts
Core-Mark Holding Co. (NASDAQ:CORE) has been given a consensus broker rating score of 2.50 (Hold) from the two analysts that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has given a buy rating to the company. Core-Mark Holding’s rating score has declined by 88% from 90 days ago as a result of a number of analysts’ ratings changes.
Analysts have set a one year consensus price objective of $39.50 for the company and are anticipating that the company will post $0.44 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Core-Mark Holding an industry rank of 171 out of 265 based on the ratings given to related companies.
Several brokerages have issued reports on CORE. Jefferies Group reaffirmed a “buy” rating on shares of Core-Mark Holding in a report on Wednesday, June 8th. Stephens reaffirmed a “buy” rating on shares of Core-Mark Holding in a report on Monday, June 13th. Zacks Investment Research downgraded Core-Mark Holding from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Finally, Raymond James Financial Inc. cut their price target on Core-Mark Holding from $51.00 to $46.00 and set an “outperform” rating for the company in a report on Tuesday, August 30th.
Core-Mark Holding (NASDAQ:CORE) traded up 0.06% during midday trading on Thursday, hitting $34.90. 72,252 shares of the stock traded hands. Core-Mark Holding has a 12-month low of $34.22 and a 12-month high of $50.00. The stock has a market capitalization of $1.61 billion, a PE ratio of 29.70 and a beta of 0.64. The firm’s 50 day moving average is $38.45 and its 200-day moving average is $42.40.
Core-Mark Holding (NASDAQ:CORE) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by $0.03. Core-Mark Holding had a net margin of 0.44% and a return on equity of 12.18%. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period in the prior year, the business earned $0.33 EPS. The company’s revenue for the quarter was up 31.2% compared to the same quarter last year. On average, analysts anticipate that Core-Mark Holding will post $1.41 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 24th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Monday, August 22nd. Core-Mark Holding’s dividend payout ratio is currently 27.35%.
In related news, SVP Scott E. Mcpherson sold 5,478 shares of the business’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $45.07, for a total value of $246,893.46. Following the completion of the transaction, the senior vice president now owns 155,244 shares of the company’s stock, valued at $6,996,847.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Scott E. Mcpherson sold 4,522 shares of the business’s 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 completion of the transaction, the senior vice president now directly owns 155,244 shares of the company’s stock, valued at approximately $7,020,133.68. The disclosure for this sale can be found here. Insiders own 2.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Independent Portfolio Consultants Inc. increased its position in Core-Mark Holding by 1.9% in the third quarter. Independent Portfolio Consultants Inc. now owns 7,360 shares of the company’s stock worth $263,000 after buying an additional 140 shares during the period. Macquarie Group Ltd. increased its position in Core-Mark Holding by 97.6% in the second quarter. Macquarie Group Ltd. now owns 844,724 shares of the company’s stock worth $39,584,000 after buying an additional 417,249 shares during the period. Mason Street Advisors LLC bought a new position in Core-Mark Holding during the second quarter worth approximately $424,000. Royal Bank of Canada increased its position in Core-Mark Holding by 81.8% in the second quarter. Royal Bank of Canada now owns 1,041,520 shares of the company’s stock worth $48,807,000 after buying an additional 468,475 shares during the period. Finally, Personal Capital Advisors Corp increased its position in Core-Mark Holding by 646.9% in the second quarter. Personal Capital Advisors Corp now owns 254,071 shares of the company’s stock worth $11,906,000 after buying an additional 220,053 shares during the period. 96.48% 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 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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