Jefferies Group Comments on Core-Mark Holding Company, Inc.’s Q2 2018 Earnings (NASDAQ:CORE)

Core-Mark Holding Company, Inc. (NASDAQ:CORE) – Investment analysts at Jefferies Group decreased their Q2 2018 earnings per share estimates for shares of Core-Mark Holding in a research note issued to investors on Wednesday. Jefferies Group analyst C. Mandeville now anticipates that the business services provider will post earnings of $0.35 per share for the quarter, down from their previous estimate of $0.48. Jefferies Group has a “Hold” rating and a $34.00 price objective on the stock.

Other analysts have also recently issued research reports about the company. Loop Capital reiterated a “buy” rating and set a $40.00 target price on shares of Core-Mark Holding in a research report on Monday, July 10th. Raymond James Financial, Inc. set a $35.00 price target on Core-Mark Holding and gave the company a “buy” rating in a report on Wednesday. ValuEngine upgraded Core-Mark Holding from a “sell” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research upgraded Core-Mark Holding from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Finally, BidaskClub upgraded Core-Mark Holding from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Core-Mark Holding has an average rating of “Hold” and an average price target of $40.00.

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Shares of Core-Mark Holding (CORE) traded up 0.04% during mid-day trading on Thursday, hitting $27.98. The stock had a trading volume of 388,924 shares. Core-Mark Holding has a 12 month low of $27.27 and a 12 month high of $45.70. The stock’s 50-day moving average is $34.45 and its 200 day moving average is $33.77. The company has a market cap of $1.30 billion, a PE ratio of 31.44 and a beta of 0.87.

Core-Mark Holding (NASDAQ:CORE) last issued its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.11. The business had revenue of $3.80 billion for 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 business’s revenue was up 3.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 EPS.

A number of institutional investors have recently added to or reduced their stakes in CORE. Norges Bank bought a new stake in Core-Mark Holding during the fourth quarter valued at about $10,768,000. Teachers Advisors LLC raised its stake in Core-Mark Holding by 7.8% in the fourth quarter. Teachers Advisors LLC now owns 79,026 shares of the business services provider’s stock valued at $3,404,000 after buying an additional 5,689 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in Core-Mark Holding by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 18,900 shares of the business services provider’s stock valued at $589,000 after buying an additional 300 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Core-Mark Holding by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 5,110 shares of the business services provider’s stock valued at $159,000 after buying an additional 100 shares during the last quarter. Finally, Navellier & Associates Inc raised its stake in Core-Mark Holding by 9.1% in the first quarter. Navellier & Associates Inc now owns 15,452 shares of the business services provider’s stock valued at $482,000 after buying an additional 1,291 shares during the last quarter. Institutional investors and hedge funds own 98.27% of the company’s stock.

In other Core-Mark Holding news, VP William Stein sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $35.91, for a total transaction of $269,325.00. Following the completion of the transaction, the vice president now owns 73,402 shares in the company, valued at approximately $2,635,865.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas B. Perkins sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $34.20, for a total value of $410,400.00. Following the transaction, the insider now owns 190,666 shares of the company’s stock, valued at approximately $6,520,777.20. The disclosure for this sale can be found here. Insiders have sold a total of 40,970 shares of company stock valued at $1,435,622 in the last 90 days. 2.40% of the stock is currently owned by company insiders.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 29th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.29%. The ex-dividend date is Friday, August 25th. Core-Mark Holding’s dividend payout ratio is presently 40.00%.

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.

Earnings History and Estimates for Core-Mark Holding (NASDAQ:CORE)

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