Zacks: Core-Mark Holding Company, Inc. (CORE) Receives Average Recommendation of “Hold” from Brokerages
Core-Mark Holding Company, Inc. (NASDAQ:CORE) has earned an average broker rating score of 2.50 (Hold) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating and one has given a buy rating to the company.
Analysts have set a twelve-month consensus price objective of $37.00 for the company and are predicting that the company will post $0.19 EPS for the current quarter, according to Zacks. Zacks has also assigned Core-Mark Holding Company an industry rank of 230 out of 265 based on the ratings given to its competitors.
Several brokerages have weighed in on CORE. Raymond James Financial, Inc. raised Core-Mark Holding Company from an “outperform” rating to a “strong-buy” rating and set a $39.00 price objective for the company in a report on Tuesday. Zacks Investment Research raised Core-Mark Holding Company from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Tuesday, January 10th. TheStreet cut Core-Mark Holding Company from a “b” rating to a “c+” rating in a report on Wednesday, March 8th. Jefferies Group LLC dropped their price objective on Core-Mark Holding Company from $40.00 to $35.00 and set a “hold” rating for the company in a report on Thursday, March 2nd. Finally, Stephens set a $49.00 price objective on Core-Mark Holding Company and gave the company a “buy” rating in a report on Friday, January 13th.
Core-Mark Holding Company (NASDAQ:CORE) traded up 13.36% during trading on Tuesday, reaching $34.87. The company’s stock had a trading volume of 777,084 shares. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 29.80 and a beta of 0.69. The firm has a 50 day moving average price of $31.46 and a 200-day moving average price of $35.56. Core-Mark Holding Company has a 52-week low of $30.00 and a 52-week high of $50.00.
Core-Mark Holding Company (NASDAQ:CORE) last announced its quarterly earnings data on Wednesday, March 1st. The business services provider reported $0.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by $0.02. The company earned $3.84 billion during the quarter, compared to analyst estimates of $3.76 billion. Core-Mark Holding Company had a net margin of 0.39% and a return on equity of 11.72%. Core-Mark Holding Company’s revenue was up 36.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 earnings per share. On average, analysts expect that Core-Mark Holding Company will post $1.52 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 28th. Stockholders of record on Monday, March 13th were paid a $0.09 dividend. The ex-dividend date was Thursday, March 9th. This represents a $0.36 annualized dividend and a dividend yield of 1.03%. Core-Mark Holding Company’s payout ratio is 31.72%.
In other news, VP Christopher L. Walsh sold 1,374 shares of Core-Mark Holding Company stock in a transaction on Wednesday, January 25th. The stock was sold at an average price of $40.11, for a total value of $55,111.14. Following the transaction, the vice president now owns 152,052 shares in the company, valued at approximately $6,098,805.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.40% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. State of New Jersey Common Pension Fund D acquired a new position in shares of Core-Mark Holding Company during the third quarter valued at about $28,640,000. Brown Advisory Inc. raised its position in shares of Core-Mark Holding Company by 40.4% in the fourth quarter. Brown Advisory Inc. now owns 1,708,010 shares of the business services provider’s stock valued at $73,563,000 after buying an additional 491,077 shares during the last quarter. Aberdeen Asset Management PLC UK raised its position in shares of Core-Mark Holding Company by 39.6% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 1,287,055 shares of the business services provider’s stock valued at $55,434,000 after buying an additional 364,971 shares during the last quarter. Northern Trust Corp raised its position in shares of Core-Mark Holding Company by 40.1% in the third quarter. Northern Trust Corp now owns 1,164,094 shares of the business services provider’s stock valued at $41,675,000 after buying an additional 333,045 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of Core-Mark Holding Company during the fourth quarter valued at about $13,027,000. Institutional investors own 98.63% of the company’s stock.
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About Core-Mark Holding Company
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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