Stephens Reiterates $25.00 Price Target for Core-Mark (CORE)
CORE has been the topic of several other research reports. BMO Capital Markets reaffirmed a hold rating and issued a $26.00 price target on shares of Core-Mark in a research note on Wednesday. Zacks Investment Research lowered Core-Mark from a hold rating to a sell rating in a research note on Tuesday, January 9th. Loop Capital set a $31.00 price target on Core-Mark and gave the company a buy rating in a research note on Monday, January 8th. They noted that the move was a valuation call. William Blair assumed coverage on Core-Mark in a research note on Wednesday, January 3rd. They issued an outperform rating on the stock. Finally, BidaskClub lowered Core-Mark from a hold rating to a sell rating in a research note on Friday, December 22nd. Two analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Hold and an average price target of $30.50.
Core-Mark (NASDAQ CORE) opened at $24.73 on Wednesday. The firm has a market capitalization of $1,142.30, a price-to-earnings ratio of 21.69, a price-to-earnings-growth ratio of 1.80 and a beta of 0.94. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.12 and a current ratio of 2.16. Core-Mark has a 12 month low of $23.33 and a 12 month high of $43.50.
Core-Mark (NASDAQ:CORE) last released its quarterly earnings data on Tuesday, November 7th. The business services provider reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.04). The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.29 billion. Core-Mark had a return on equity of 9.90% and a net margin of 0.27%. equities analysts forecast that Core-Mark will post 0.95 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Stockholders of record on Tuesday, November 28th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Monday, November 27th. This is a positive change from Core-Mark’s previous quarterly dividend of $0.09. Core-Mark’s dividend payout ratio is 44.44%.
Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Core-Mark by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 4,075,508 shares of the business services provider’s stock valued at $134,736,000 after purchasing an additional 71,715 shares during the last quarter. Brown Advisory Inc. lifted its stake in Core-Mark by 1.4% during the 3rd quarter. Brown Advisory Inc. now owns 2,311,394 shares of the business services provider’s stock worth $74,288,000 after acquiring an additional 31,689 shares in the last quarter. State Street Corp lifted its stake in Core-Mark by 4.1% during the 2nd quarter. State Street Corp now owns 1,097,819 shares of the business services provider’s stock worth $36,293,000 after acquiring an additional 43,605 shares in the last quarter. Macquarie Group Ltd. lifted its stake in Core-Mark by 6.8% during the 3rd quarter. Macquarie Group Ltd. now owns 1,036,747 shares of the business services provider’s stock worth $33,321,000 after acquiring an additional 66,418 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its stake in Core-Mark by 2.4% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 860,000 shares of the business services provider’s stock worth $27,640,000 after acquiring an additional 20,000 shares in the last quarter. 98.27% of the stock is currently owned by institutional investors and hedge funds.
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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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