Core-Mark Holding Company, Inc. (NASDAQ:CORE) – Equities research analysts at William Blair issued their FY2017 earnings estimates for shares of Core-Mark in a research note issued on Wednesday. William Blair analyst R. Domyancic forecasts that the business services provider will post earnings per share of $1.20 for the year. William Blair has a “Outperform” rating on the stock. William Blair also issued estimates for Core-Mark’s Q4 2017 earnings at $0.51 EPS and FY2018 earnings at $1.41 EPS.
Several other equities analysts have also recently commented on CORE. Zacks Investment Research raised Core-Mark from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 10th. Jefferies Group reissued a “hold” rating and issued a $32.00 target price on shares of Core-Mark in a report on Friday, November 10th. BidaskClub cut Core-Mark from a “hold” rating to a “sell” rating in a report on Friday, December 22nd. BMO Capital Markets started coverage on Core-Mark in a report on Friday. They issued a “market perform” rating and a $33.00 target price for the company. Finally, Stephens cut Core-Mark from an “overweight” rating to an “equal weight” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $35.67.
Core-Mark (NASDAQ:CORE) last posted its quarterly earnings results on Tuesday, November 7th. The business services provider reported $0.37 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.04). The firm had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.29 billion. Core-Mark had a net margin of 0.27% and a return on equity of 9.90%.
The business also recently announced a quarterly dividend, which was paid on Friday, December 22nd. Stockholders of record on Tuesday, November 28th were issued a $0.10 dividend. The ex-dividend date was Monday, November 27th. This is a boost from Core-Mark’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.56%. Core-Mark’s dividend payout ratio is presently 44.94%.
Institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of Core-Mark in the 3rd quarter worth approximately $117,000. Riverhead Capital Management LLC raised its holdings in shares of Core-Mark by 81.7% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,997 shares of the business services provider’s stock worth $132,000 after buying an additional 1,797 shares in the last quarter. Flinton Capital Management LLC grew its position in Core-Mark by 77.3% during the 2nd quarter. Flinton Capital Management LLC now owns 4,368 shares of the business services provider’s stock worth $144,000 after acquiring an additional 1,904 shares during the last quarter. Victory Capital Management Inc. grew its position in Core-Mark by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,484 shares of the business services provider’s stock worth $148,000 after acquiring an additional 673 shares during the last quarter. Finally, Zions Bancorporation bought a new stake in Core-Mark during the 3rd quarter worth approximately $161,000. 98.27% of the stock is owned by institutional investors and hedge funds.
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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