Jefferies Group LLC Reaffirms “Hold” Rating for Core-Mark Holding Company, Inc. (CORE)

Jefferies Group LLC reiterated their hold rating on shares of Core-Mark Holding Company, Inc. (NASDAQ:CORE) in a report published on Friday morning. Jefferies Group LLC currently has a $32.00 target price on the stock. Jefferies Group also issued estimates for Core-Mark Holding’s Q4 2017 earnings at $0.47 EPS, FY2017 earnings at $1.16 EPS, Q1 2018 earnings at $0.06 EPS, Q2 2018 earnings at $0.29 EPS, Q3 2018 earnings at $0.37 EPS, Q4 2018 earnings at $0.62 EPS, FY2018 earnings at $1.34 EPS, FY2019 earnings at $1.53 EPS, FY2020 earnings at $1.83 EPS and FY2021 earnings at $1.85 EPS.

Several other research firms have also issued reports on CORE. Zacks Investment Research upgraded Core-Mark Holding from a strong sell rating to a hold rating in a research note on Tuesday, October 10th. BidaskClub lowered Core-Mark Holding from a hold rating to a sell rating in a research note on Saturday, August 12th. ValuEngine upgraded Core-Mark Holding from a sell rating to a hold rating in a research note on Tuesday, August 8th. Finally, Raymond James Financial, Inc. set a $35.00 target price on Core-Mark Holding and gave the company a buy rating in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of C$38.80.

Core-Mark Holding (NASDAQ:CORE) opened at C$29.28 on Friday. The company has a market capitalization of $1,352.49, a price-to-earnings ratio of 25.68, a PEG ratio of 2.46 and a beta of 0.98. 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 Holding has a 52 week low of C$26.08 and a 52 week high of C$44.12.

Core-Mark Holding (NASDAQ:CORE) last announced its quarterly earnings results on Tuesday, November 7th. The company reported C$0.37 EPS for the quarter, missing the consensus estimate of C$0.41 by C($0.04). The firm had revenue of C$4.31 billion for the quarter, compared to analysts’ expectations of C$4.29 billion. Core-Mark Holding had a net margin of 0.27% and a return on equity of 9.90%. analysts forecast that Core-Mark Holding will post 1.19 EPS for the current year.

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Core-Mark Holding announced that its Board of Directors has authorized a share buyback program on Monday, August 28th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Tuesday, November 28th will be paid a dividend of $0.10 per share. This is a positive change from Core-Mark Holding’s previous quarterly dividend of $0.09. The ex-dividend date is Monday, November 27th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.37%. Core-Mark Holding’s payout ratio is presently 40.00%.

Several hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN grew its stake in shares of Core-Mark Holding by 54.1% during the third quarter. Wells Fargo & Company MN now owns 69,608 shares of the company’s stock worth $2,237,000 after acquiring an additional 24,435 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Core-Mark Holding by 6.1% during the third quarter. Legal & General Group Plc now owns 137,785 shares of the company’s stock worth $4,429,000 after acquiring an additional 7,898 shares during the last quarter. TD Asset Management Inc. grew its stake in shares of Core-Mark Holding by 5.2% during the third quarter. TD Asset Management Inc. now owns 41,467 shares of the company’s stock worth $1,333,000 after acquiring an additional 2,067 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Core-Mark Holding by 7.4% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 49,970 shares of the company’s stock worth $1,606,000 after purchasing an additional 3,447 shares during the period. Finally, American International Group Inc. lifted its holdings in shares of Core-Mark Holding by 5.7% during the third quarter. American International Group Inc. now owns 36,211 shares of the company’s stock worth $1,164,000 after purchasing an additional 1,959 shares during the period. Institutional investors and hedge funds own 98.75% of the company’s stock.

Core-Mark Holding Company Profile

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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