Core-Mark Holding Company, Inc. (NASDAQ:CORE) – Equities research analysts at Jefferies Financial Group upped their Q1 2019 EPS estimates for shares of Core-Mark in a research report issued on Tuesday, November 6th. Jefferies Financial Group analyst C. Mandeville now anticipates that the business services provider will post earnings of $0.09 per share for the quarter, up from their prior 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.
Several other analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Core-Mark from a “hold” rating to a “strong-buy” rating and set a $34.00 price target on the stock in a research note on Thursday. BidaskClub cut shares of Core-Mark from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Loop Capital set a $40.00 price target on shares of Core-Mark and gave the stock a “buy” rating in a research note on Wednesday. ValuEngine cut shares of Core-Mark from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Sidoti cut shares of Core-Mark from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 11th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $33.67.
Core-Mark (NASDAQ:CORE) last announced its quarterly earnings results on Tuesday, November 6th. The business services provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.46 by $0.17. The business had revenue of $4.27 billion for the quarter, compared to analysts’ expectations of $4.46 billion. Core-Mark had a net margin of 0.27% and a return on equity of 11.58%. The business’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.37 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Tuesday, November 20th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.52%. This is a boost from Core-Mark’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Monday, November 19th. Core-Mark’s dividend payout ratio is currently 40.00%.
In other news, VP Christopher Hobson sold 5,812 shares of the company’s stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $30.73, for a total transaction of $178,602.76. Following the sale, the vice president now directly owns 55,355 shares in the company, valued at approximately $1,701,059.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Globeflex Capital L P bought a new position in Core-Mark during the 3rd quarter valued at about $735,000. BlackRock Inc. grew its holdings in Core-Mark by 6.9% during the 3rd quarter. BlackRock Inc. now owns 6,950,550 shares of the business services provider’s stock valued at $236,040,000 after purchasing an additional 446,325 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Core-Mark by 207.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 8,960 shares of the business services provider’s stock valued at $305,000 after purchasing an additional 6,049 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in Core-Mark during the 3rd quarter valued at about $1,613,000. Finally, Bank of New York Mellon Corp grew its holdings in Core-Mark by 4.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 678,113 shares of the business services provider’s stock valued at $23,029,000 after purchasing an additional 31,958 shares during the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.
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.
See Also: Price to Earnings Ratio (PE) Basics
Receive News & Ratings for Core-Mark Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Core-Mark and related companies with MarketBeat.com's FREE daily email newsletter.