Core-Mark (NASDAQ:CORE) Issues FY 2019 Earnings Guidance

Core-Mark (NASDAQ:CORE) issued an update on its FY 2019 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.50-1.60 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.59. The company issued revenue guidance of $16.8-17 billion, compared to the consensus revenue estimate of $16.85 billion.Core-Mark also updated its FY19 guidance to $1.50-$1.60 EPS.

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

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

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

Several brokerages recently commented on CORE. Zacks Investment Research lowered shares of Core-Mark from a buy rating to a hold rating in a research report on Monday, August 5th. BidaskClub lowered shares of Core-Mark from a hold rating to a sell rating in a research report on Wednesday, July 24th. Finally, ValuEngine lowered shares of Core-Mark from a buy rating to a hold rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average 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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