Core-Mark Holding Company, Inc. (NASDAQ:CORE) has been assigned an average recommendation of “Hold” from the eight research firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $34.50.
A number of brokerages recently issued reports on CORE. Raymond James dropped their price target on shares of Core-Mark from $42.00 to $31.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. BidaskClub upgraded shares of Core-Mark from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 5th. Zacks Investment Research cut shares of Core-Mark from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 4th. ValuEngine cut shares of Core-Mark from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. Finally, BMO Capital Markets lowered their target price on shares of Core-Mark to $34.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 1st. They noted that the move was a valuation call.
Shares of NASDAQ:CORE traded up $0.02 during midday trading on Wednesday, reaching $25.56. The company’s stock had a trading volume of 277,300 shares, compared to its average volume of 303,033. The firm has a 50 day moving average of $28.04 and a 200-day moving average of $33.48. The firm has a market capitalization of $1.23 billion, a P/E ratio of 18.39, a PEG ratio of 2.06 and a beta of 0.76. The company has a quick ratio of 0.88, a current ratio of 2.04 and a debt-to-equity ratio of 1.21. Core-Mark has a 12-month low of $22.53 and a 12-month high of $40.95.
Core-Mark (NASDAQ:CORE) last released its earnings results on Thursday, November 7th. The business services provider reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.04. The firm had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.45 billion. Core-Mark had a net margin of 0.32% and a return on equity of 12.67%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 EPS. On average, research analysts predict that Core-Mark will post 1.63 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 19th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Monday, November 18th. Core-Mark’s dividend payout ratio (DPR) is presently 34.53%.
Several large investors have recently modified their holdings of the company. Nuveen Asset Management LLC purchased a new stake in Core-Mark in the 2nd quarter worth approximately $21,677,000. Prudential Financial Inc. increased its holdings in Core-Mark by 139.1% in the 2nd quarter. Prudential Financial Inc. now owns 832,849 shares of the business services provider’s stock worth $33,081,000 after acquiring an additional 484,533 shares in the last quarter. Invesco Ltd. increased its holdings in Core-Mark by 218.1% in the 2nd quarter. Invesco Ltd. now owns 402,291 shares of the business services provider’s stock worth $15,979,000 after acquiring an additional 275,805 shares in the last quarter. Vanguard Group Inc. increased its holdings in Core-Mark by 5.5% in the 2nd quarter. Vanguard Group Inc. now owns 5,080,735 shares of the business services provider’s stock worth $201,806,000 after acquiring an additional 263,876 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Core-Mark by 55.1% in the 2nd quarter. Renaissance Technologies LLC now owns 420,402 shares of the business services provider’s stock worth $16,698,000 after acquiring an additional 149,402 shares in the last quarter. Hedge funds and other institutional investors own 95.70% 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 food products, including fast food, candies, snacks, and groceries, as well as beverages and fresh products, such as sandwiches, juices, salads, produce, dairy, and bread; and non-food products comprising cigars, tobacco, alternative nicotine products, health and beauty care products, and general merchandise and equipment.
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