Core-Mark Holding Company, Inc. (NASDAQ:CORE) announced a quarterly dividend on Wednesday, August 8th, Wall Street Journal reports. Stockholders of record on Tuesday, August 28th will be paid a dividend of 0.10 per share by the business services provider on Friday, September 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Monday, August 27th.
Core-Mark has raised its dividend payment by an average of 22.3% annually over the last three years and has increased its dividend every year for the last 4 years. Core-Mark has a payout ratio of 32.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Core-Mark to earn $1.39 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 28.8%.
Shares of Core-Mark stock opened at $34.79 on Wednesday. Core-Mark has a 12-month low of $17.10 and a 12-month high of $35.08. The company has a market cap of $1.54 billion, a PE ratio of 30.01, a P/E/G ratio of 2.13 and a beta of 0.63. The company has a current ratio of 1.92, a quick ratio of 1.14 and a debt-to-equity ratio of 0.66.
Core-Mark (NASDAQ:CORE) last announced its quarterly earnings data on Tuesday, August 7th. The business services provider reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. Core-Mark had a return on equity of 9.56% and a net margin of 0.21%. The company had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.14 billion. equities analysts expect that Core-Mark will post 1.22 earnings per share for the current fiscal year.
In other Core-Mark news, Director Laura Jean Flanagan bought 1,930 shares of the firm’s stock in a transaction that occurred on Thursday, June 14th. The shares were acquired at an average cost of $20.61 per share, with a total value of $39,777.30. Following the acquisition, the director now owns 8,147 shares of the company’s stock, valued at $167,909.67. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is currently owned by insiders.
A number of brokerages have recently issued reports on CORE. Zacks Investment Research cut Core-Mark from a “hold” rating to a “sell” rating in a research note on Tuesday, July 10th. BMO Capital Markets reissued a “hold” rating and set a $30.00 target price (up from $21.00) on shares of Core-Mark in a report on Wednesday, August 8th. ValuEngine raised Core-Mark from a “strong sell” rating to a “sell” rating in a report on Friday, August 3rd. Loop Capital set a $32.00 target price on Core-Mark and gave the stock a “buy” rating in a report on Thursday, July 5th. Finally, TheStreet raised Core-Mark from a “c” rating to a “b-” rating in a report on Friday, August 10th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $31.33.
Core-Mark Company Profile
Core-Mark Holding Company, Inc markets fresh and broad-line supply solutions to the convenience retail industry. The company sells and distributes various food/non-food products, including cigarettes, fast food, candies, snacks, groceries, fresh products, dairy products, breads, beverages, other tobacco products, general merchandise and equipment, and health and beauty care products.
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