Jefferies Group Analysts Decrease Earnings Estimates for Core-Mark Holding Company, Inc. (CORE)
Core-Mark Holding Company, Inc. (NASDAQ:CORE) – Equities researchers at Jefferies Group cut their Q3 2017 earnings per share (EPS) estimates for shares of Core-Mark Holding in a report issued on Wednesday. Jefferies Group analyst C. Mandeville now expects that the business services provider will earn $0.43 per share for the quarter, down from their prior forecast of $0.50. Jefferies Group currently has a “Hold” rating and a $34.00 price objective on the stock. Jefferies Group also issued estimates for Core-Mark Holding’s Q4 2017 earnings at $0.45 EPS, FY2017 earnings at $1.22 EPS, Q1 2018 earnings at $0.01 EPS, Q3 2018 earnings at $0.47 EPS, Q4 2018 earnings at $0.53 EPS, FY2018 earnings at $1.36 EPS, FY2019 earnings at $1.50 EPS, FY2020 earnings at $1.74 EPS and FY2021 earnings at $1.85 EPS.
Core-Mark Holding (NASDAQ:CORE) last announced its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.11. Core-Mark Holding had a net margin of 0.27% and a return on equity of 9.70%. The firm had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.96 billion. During the same period in the prior year, the company posted $0.39 EPS. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. WARNING: This report was reported by Daily Political and is the sole property of of Daily Political. If you are viewing this report on another domain, it was illegally copied and reposted in violation of US & international trademark & copyright legislation. The legal version of this report can be accessed at https://www.dailypolitical.com/2017/08/11/jefferies-group-analysts-decrease-earnings-estimates-for-core-mark-holding-company-inc-core.html.
Several other research analysts also recently weighed in on CORE. Raymond James Financial, Inc. raised shares of Core-Mark Holding from an “outperform” rating to a “strong-buy” rating and set a $39.00 target price for the company in a research note on Tuesday, April 18th. Zacks Investment Research raised shares of Core-Mark Holding from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. Loop Capital initiated coverage on shares of Core-Mark Holding in a research note on Monday, May 15th. They issued a “buy” rating and a $40.00 target price for the company. BidaskClub downgraded shares of Core-Mark Holding from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. Finally, ValuEngine downgraded shares of Core-Mark Holding from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Core-Mark Holding presently has a consensus rating of “Hold” and an average price target of $40.00.
Shares of Core-Mark Holding (NASDAQ CORE) opened at 27.97 on Friday. The company has a 50 day moving average of $34.59 and a 200-day moving average of $33.86. Core-Mark Holding has a one year low of $27.79 and a one year high of $45.70. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 31.43 and a beta of 0.87.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 29th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.29%. The ex-dividend date is Friday, August 25th. Core-Mark Holding’s payout ratio is 40.00%.
In related news, insider Thomas B. Perkins sold 12,000 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $34.20, for a total value of $410,400.00. Following the completion of the transaction, the insider now owns 190,666 shares of the company’s stock, valued at approximately $6,520,777.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Rolheiser sold 11,470 shares of the business’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $35.10, for a total transaction of $402,597.00. Following the completion of the transaction, the insider now directly owns 5,016 shares of the company’s stock, valued at approximately $176,061.60. The disclosure for this sale can be found here. Insiders sold a total of 40,970 shares of company stock valued at $1,435,622 in the last three months. 2.40% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. UBS Group AG boosted its stake in Core-Mark Holding by 30.6% in the first quarter. UBS Group AG now owns 3,423 shares of the business services provider’s stock valued at $107,000 after buying an additional 802 shares during the period. Victory Capital Management Inc. boosted its stake in Core-Mark Holding by 65.1% in the first quarter. Victory Capital Management Inc. now owns 3,811 shares of the business services provider’s stock valued at $119,000 after buying an additional 1,503 shares during the period. Quantbot Technologies LP boosted its stake in Core-Mark Holding by 550.9% in the first quarter. Quantbot Technologies LP now owns 3,821 shares of the business services provider’s stock valued at $119,000 after buying an additional 3,234 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in Core-Mark Holding during the first quarter valued at approximately $123,000. Finally, Riverhead Capital Management LLC boosted its stake in Core-Mark Holding by 81.7% in the second quarter. Riverhead Capital Management LLC now owns 3,997 shares of the business services provider’s stock valued at $132,000 after buying an additional 1,797 shares during the period. Institutional investors own 98.27% of the company’s stock.
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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