Core-Mark Holding Company, Inc. (NASDAQ:CORE) – Stock analysts at Jefferies Financial Group increased their Q1 2019 earnings per share estimates for shares of Core-Mark in a research note issued on Tuesday, November 6th. Jefferies Financial Group analyst C. Mandeville now forecasts that the business services provider will earn $0.09 per share for the quarter, up from their previous estimate of $0.08. Jefferies Financial Group also issued estimates for Core-Mark’s Q3 2019 earnings at $0.66 EPS and FY2020 earnings at $1.68 EPS.
Core-Mark (NASDAQ:CORE) last released its quarterly earnings results on Tuesday, November 6th. The business services provider reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.17. The company had revenue of $4.27 billion during the quarter, compared to analyst estimates of $4.46 billion. Core-Mark had a return on equity of 11.66% and a net margin of 0.27%. The firm’s revenue was down .9% on a year-over-year basis. During the same quarter last year, the business posted $0.37 earnings per share.
Several other research firms have also commented on CORE. Raymond James lowered Core-Mark from a “strong-buy” rating to an “outperform” rating and lifted their price target for the stock from $33.00 to $40.00 in a research report on Friday, September 7th. Loop Capital lifted their price target on Core-Mark to $41.00 and gave the stock a “buy” rating in a research report on Friday, September 7th. Sidoti lowered Core-Mark from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 11th. ValuEngine upgraded Core-Mark from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th. Finally, BidaskClub upgraded Core-Mark from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 11th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $33.67.
CORE traded down $0.39 on Friday, hitting $30.15. The company had a trading volume of 972 shares, compared to its average volume of 370,578. The firm has a market cap of $1.40 billion, a P/E ratio of 30.11, a P/E/G ratio of 1.82 and a beta of 0.57. Core-Mark has a 12-month low of $17.10 and a 12-month high of $40.12. The company has a current ratio of 1.92, a quick ratio of 1.14 and a debt-to-equity ratio of 0.66.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its stake in Core-Mark by 4.9% in the third quarter. Bank of New York Mellon Corp now owns 678,113 shares of the business services provider’s stock worth $23,029,000 after purchasing an additional 31,958 shares during the last quarter. Keybank National Association OH bought a new stake in Core-Mark in the third quarter worth about $861,000. Prudential Financial Inc. lifted its stake in Core-Mark by 483.1% in the third quarter. Prudential Financial Inc. now owns 477,453 shares of the business services provider’s stock worth $16,214,000 after purchasing an additional 395,565 shares during the last quarter. Strategic Wealth Advisors Group LLC bought a new stake in Core-Mark in the third quarter worth about $436,000. Finally, Stone Ridge Asset Management LLC lifted its stake in Core-Mark by 24.6% in the third quarter. Stone Ridge Asset Management LLC now owns 35,964 shares of the business services provider’s stock worth $1,221,000 after purchasing an additional 7,106 shares during the last quarter. 93.91% of the stock is owned by institutional investors and hedge funds.
In other Core-Mark news, VP Christopher Hobson sold 5,812 shares of the firm’s stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $30.73, for a total value of $178,602.76. Following the completion of the sale, the vice president now owns 55,355 shares of the company’s stock, valued at $1,701,059.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by company insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Tuesday, November 20th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Monday, November 19th. This represents a $0.44 annualized dividend and a yield of 1.46%. This is an increase from Core-Mark’s previous quarterly dividend of $0.10. Core-Mark’s dividend payout ratio (DPR) is presently 40.00%.
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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