Core-Mark Holding Company, Inc. (CORE) Given Average Recommendation of “Hold” by Brokerages
Core-Mark Holding Company, Inc. (NASDAQ:CORE) has been assigned a consensus rating of “Hold” from the eight research firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $39.50.
Several brokerages have recently commented on CORE. Zacks Investment Research raised shares of Core-Mark Holding from a “strong sell” rating to a “hold” rating in a research note on Tuesday. BidaskClub cut shares of Core-Mark Holding from a “hold” rating to a “sell” rating in a research note on Saturday, August 12th. Raymond James Financial, Inc. set a $35.00 price objective on shares of Core-Mark Holding and gave the company a “buy” rating in a research note on Wednesday, August 9th. Jefferies Group LLC decreased their price objective on shares of Core-Mark Holding from $38.00 to $34.00 and set a “hold” rating on the stock in a research note on Wednesday, August 9th. Finally, ValuEngine raised shares of Core-Mark Holding from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th.
Shares of Core-Mark Holding (NASDAQ CORE) traded up 1.54% during mid-day trading on Thursday, hitting $33.03. The stock had a trading volume of 115,820 shares. Core-Mark Holding has a 12-month low of $26.08 and a 12-month high of $44.12. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 37.11 and a beta of 0.97. The stock’s 50-day moving average price is $29.55 and its 200-day moving average price is $32.58.
Core-Mark Holding (NASDAQ:CORE) last released its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.11). The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.96 billion. Core-Mark Holding had a net margin of 0.27% and a return on equity of 9.70%. The firm’s revenue was up 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.39 earnings per share. On average, equities analysts anticipate that Core-Mark Holding will post $1.24 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, August 29th were issued a dividend of $0.09 per share. The ex-dividend date was Friday, August 25th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.09%. Core-Mark Holding’s dividend payout ratio (DPR) is presently 40.00%.
Core-Mark Holding declared that its Board of Directors has approved a share repurchase program on Monday, August 28th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the business services provider to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
A number of hedge funds have recently added to or reduced their stakes in CORE. UBS Group AG increased 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 purchasing an additional 802 shares in the last quarter. Victory Capital Management Inc. increased 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 purchasing an additional 1,503 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in Core-Mark Holding in the first quarter valued at $123,000. Riverhead Capital Management LLC increased 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 purchasing an additional 1,797 shares in the last quarter. Finally, Flinton Capital Management LLC increased its stake in Core-Mark Holding by 77.3% in the second quarter. Flinton Capital Management LLC now owns 4,368 shares of the business services provider’s stock valued at $144,000 after purchasing an additional 1,904 shares in the last quarter. Institutional investors and hedge funds own 98.27% of the company’s stock.
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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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