BMO Capital Markets Initiates Coverage on Core-Mark (CORE)
BMO Capital Markets initiated coverage on shares of Core-Mark (NASDAQ:CORE) in a research report released on Friday, Marketbeat.com reports. The firm issued a market perform rating and a $33.00 target price on the business services provider’s stock.
CORE has been the subject of a number of other reports. BidaskClub cut shares of Core-Mark from a hold rating to a sell rating in a report on Friday, December 22nd. Zacks Investment Research cut shares of Core-Mark from a buy rating to a hold rating in a report on Thursday, November 9th. William Blair assumed coverage on shares of Core-Mark in a report on Wednesday, January 3rd. They set an outperform rating for the company. Finally, Jefferies Group restated a hold rating and set a $32.00 price target on shares of Core-Mark in a report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Core-Mark currently has an average rating of Hold and an average price target of $35.67.
Shares of Core-Mark (NASDAQ CORE) traded up $1.50 during trading hours on Friday, reaching $25.68. 816,100 shares of the company were exchanged, compared to its average volume of 789,800. The company has a market capitalization of $1,190.00, a PE ratio of 28.85, a PEG ratio of 1.83 and a beta of 0.95. Core-Mark has a 12-month low of $23.95 and a 12-month high of $43.50. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.16 and a quick ratio of 1.12.
Core-Mark (NASDAQ:CORE) last issued its quarterly earnings data on Tuesday, November 7th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.04). The business had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.29 billion. Core-Mark had a return on equity of 9.90% and a net margin of 0.27%. equities analysts anticipate that Core-Mark will post 1.16 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Tuesday, November 28th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.56%. This is a boost from Core-Mark’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Monday, November 27th. Core-Mark’s dividend payout ratio is 44.94%.
Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in Core-Mark during the third quarter valued at about $117,000. Riverhead Capital Management LLC raised its position in shares of Core-Mark by 81.7% during the second quarter. Riverhead Capital Management LLC now owns 3,997 shares of the business services provider’s stock valued at $132,000 after buying an additional 1,797 shares during the last quarter. Flinton Capital Management LLC raised its position in shares of Core-Mark by 77.3% during the second quarter. Flinton Capital Management LLC now owns 4,368 shares of the business services provider’s stock valued at $144,000 after buying an additional 1,904 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Core-Mark by 17.7% during the second quarter. Victory Capital Management Inc. now owns 4,484 shares of the business services provider’s stock valued at $148,000 after buying an additional 673 shares during the last quarter. Finally, Zions Bancorporation acquired a new position in shares of Core-Mark during the third quarter valued at about $161,000. Institutional investors own 98.27% of the company’s stock.
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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