Core-Mark (NASDAQ:CORE) Issues FY19 Earnings Guidance

Core-Mark (NASDAQ:CORE) issued an update on its FY19 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.50-$1.60 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.59. Core-Mark also updated its FY 2019 guidance to $1.50-1.60 EPS.

Shares of NASDAQ CORE traded down $1.80 during mid-day trading on Friday, hitting $33.75. The company had a trading volume of 414,774 shares, compared to its average volume of 208,424. The stock has a market cap of $1.56 billion, a P/E ratio of 24.28, a PEG ratio of 2.69 and a beta of 0.76. The company has a quick ratio of 0.86, a current ratio of 1.78 and a debt-to-equity ratio of 0.93. Core-Mark has a 1-year low of $22.53 and a 1-year high of $40.95. The business’s 50-day moving average price is $37.94.

Core-Mark (NASDAQ:CORE) last announced its quarterly earnings data on Wednesday, August 7th. The business services provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.06. The business had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.31 billion. Core-Mark had a return on equity of 13.11% and a net margin of 0.33%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period last year, the firm earned $0.35 earnings per share. As a group, analysts expect that Core-Mark will post 1.58 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 22nd will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.30%. The ex-dividend date is Wednesday, August 21st. Core-Mark’s payout ratio is currently 31.65%.

CORE has been the topic of several analyst reports. Zacks Investment Research cut Core-Mark from a buy rating to a hold rating in a research note on Monday, August 5th. ValuEngine cut Core-Mark from a buy rating to a hold rating in a research note on Wednesday, July 17th. Finally, BidaskClub cut Core-Mark from a hold rating to a sell rating in a research note on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Core-Mark has an average rating of Hold and a consensus price target of $38.40.

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.

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Earnings History and Estimates for Core-Mark (NASDAQ:CORE)

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