Research Analysts Issue Forecasts for Core-Mark Holding Company, Inc.’s FY2017 Earnings (CORE)
Core-Mark Holding Company, Inc. (NASDAQ:CORE) – Equities research analysts at Jefferies Group increased their FY2017 earnings per share estimates for Core-Mark Holding in a research note issued to investors on Thursday. Jefferies Group analyst C. Mandeville now forecasts that the business services provider will earn $1.45 per share for the year, up from their prior estimate of $1.44. Jefferies Group currently has a “Hold” rating on the stock. Jefferies Group also issued estimates for Core-Mark Holding’s Q2 2018 earnings at $0.48 EPS and Q3 2018 earnings at $0.52 EPS.
Core-Mark Holding (NASDAQ:CORE) last released its quarterly earnings results on Tuesday, May 9th. The business services provider reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by $0.08. Core-Mark Holding had a net margin of 0.34% and a return on equity of 11.42%. The business had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter last year, the business posted $0.17 earnings per share. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. COPYRIGHT VIOLATION NOTICE: This report was originally posted by American Banking News and is owned by of American Banking News. If you are viewing this report on another publication, it was illegally copied and republished in violation of U.S. and international trademark and copyright laws. The original version of this report can be accessed at https://www.americanbankingnews.com/2017/08/07/research-analysts-issue-forecasts-for-core-mark-holding-company-inc-s-fy2017-earnings-core.html.
Several other research analysts have also recently issued reports on the company. Zacks Investment Research raised Core-Mark Holding from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective for the company in a research report on Friday. ValuEngine downgraded Core-Mark Holding from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. BidaskClub raised Core-Mark Holding from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Loop Capital reissued a “buy” rating and issued a $40.00 target price on shares of Core-Mark Holding in a report on Monday, July 10th. Finally, Raymond James Financial, Inc. reissued an “outperform” rating on shares of Core-Mark Holding in a report on Wednesday, May 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Core-Mark Holding presently has a consensus rating of “Buy” and an average price target of $41.00.
Core-Mark Holding (NASDAQ:CORE) opened at 35.77 on Monday. The stock has a market capitalization of $1.66 billion, a PE ratio of 32.73 and a beta of 0.87. The stock has a 50 day moving average price of $34.87 and a 200 day moving average price of $34.11. Core-Mark Holding has a 52 week low of $30.00 and a 52 week high of $48.27.
In other news, VP William Stein sold 7,500 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $35.91, for a total value of $269,325.00. Following the completion of the sale, the vice president now directly owns 73,402 shares of the company’s stock, valued at approximately $2,635,865.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Scott E. Mcpherson sold 10,000 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $35.33, for a total value of $353,300.00. Following the completion of the sale, the senior vice president now directly owns 144,651 shares of the company’s stock, valued at $5,110,519.83. 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 over the last three months. Company insiders own 2.50% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new stake in Core-Mark Holding during the fourth quarter valued at $10,768,000. Teachers Advisors LLC increased its stake in Core-Mark Holding by 7.8% in the fourth quarter. Teachers Advisors LLC now owns 79,026 shares of the business services provider’s stock valued at $3,404,000 after buying an additional 5,689 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Core-Mark Holding by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 18,900 shares of the business services provider’s stock valued at $589,000 after buying an additional 300 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Core-Mark Holding by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 5,110 shares of the business services provider’s stock valued at $159,000 after buying an additional 100 shares during the last quarter. Finally, Navellier & Associates Inc increased its stake in Core-Mark Holding by 9.1% in the first quarter. Navellier & Associates Inc now owns 15,452 shares of the business services provider’s stock valued at $482,000 after buying an additional 1,291 shares during the last quarter. 98.27% of the stock is owned by institutional investors and hedge funds.
About Core-Mark Holding
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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