Core-Mark Holding Company, Inc. (NASDAQ:CORE) – Stock analysts at Jefferies Financial Group decreased their Q1 2020 earnings estimates for Core-Mark in a report released on Monday, January 6th. Jefferies Financial Group analyst C. Mandeville now forecasts that the business services provider will earn $0.12 per share for the quarter, down from their prior estimate of $0.15. Jefferies Financial Group also issued estimates for Core-Mark’s Q3 2020 earnings at $0.67 EPS, Q4 2020 earnings at $0.42 EPS, FY2020 earnings at $1.80 EPS and FY2021 earnings at $1.96 EPS.
Core-Mark (NASDAQ:CORE) last announced its earnings results on Thursday, November 7th. The business services provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.04. Core-Mark had a net margin of 0.32% and a return on equity of 12.67%. The firm had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter in the previous year, the company posted $0.63 EPS. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis.
Other research analysts also recently issued research reports about the stock. BidaskClub raised shares of Core-Mark from a “sell” rating to a “hold” rating in a research note on Wednesday, December 18th. Raymond James cut their target price on shares of Core-Mark from $42.00 to $31.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. TheStreet downgraded shares of Core-Mark from a “b-” rating to a “c+” rating in a research note on Tuesday, December 3rd. Zacks Investment Research raised shares of Core-Mark from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research note on Wednesday. Finally, BMO Capital Markets lowered their price target on Core-Mark to $34.00 and set a “market perform” rating for the company in a report on Tuesday, October 1st. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $33.40.
Shares of CORE stock opened at $25.72 on Thursday. The firm has a 50-day moving average price of $26.32 and a 200 day moving average price of $31.40. Core-Mark has a twelve month low of $25.04 and a twelve month high of $40.95. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 1.81 and a beta of 0.76. The company has a current ratio of 2.04, a quick ratio of 0.88 and a debt-to-equity ratio of 1.21.
Large investors have recently modified their holdings of the company. Point72 Asset Management L.P. acquired a new position in Core-Mark during the 2nd quarter worth approximately $91,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Core-Mark by 18.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,202 shares of the business services provider’s stock worth $103,000 after acquiring an additional 492 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in Core-Mark during the 3rd quarter worth approximately $112,000. Meeder Asset Management Inc. lifted its position in Core-Mark by 198.0% during the 3rd quarter. Meeder Asset Management Inc. now owns 4,405 shares of the business services provider’s stock worth $142,000 after acquiring an additional 2,927 shares in the last quarter. Finally, Qtron Investments LLC acquired a new position in Core-Mark during the 2nd quarter worth approximately $203,000. Institutional investors and hedge funds own 95.70% of the company’s stock.
In other Core-Mark news, CFO Christopher M. Miller sold 3,436 shares of Core-Mark stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $26.22, for a total value of $90,091.92. Following the completion of the sale, the chief financial officer now owns 28,366 shares in the company, valued at approximately $743,756.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.10% of the stock is owned by insiders.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Tuesday, November 19th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend was Monday, November 18th. Core-Mark’s dividend payout ratio (DPR) is 34.53%.
About Core-Mark
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.
