Core-Mark (CORE) Updates FY17 Earnings Guidance

Core-Mark (NASDAQ:CORE) updated its FY17 earnings guidance on Friday. The company provided earnings per share guidance of $0.94-1.01 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.19. The company issued revenue guidance of $15.7 billion, compared to the consensus revenue estimate of $15.77 billion.Core-Mark also updated its FY18 guidance to $1.13-1.29 EPS.

A number of analysts recently weighed in on the stock. UBS Group upgraded shares of Core-Mark from an outperform rating to a strong-buy rating in a research report on Friday. Raymond James Financial upgraded shares of Core-Mark from an outperform rating to a buy rating and set a $31.00 price target on the stock in a research report on Friday. Stephens downgraded shares of Core-Mark from an overweight rating to an equal weight rating in a research report on Friday. BMO Capital Markets assumed coverage on shares of Core-Mark in a report on Friday. They set a market perform rating and a $33.00 target price on the stock. Finally, William Blair assumed coverage on shares of Core-Mark in a report on Wednesday. They set an outperform rating on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Core-Mark presently has an average rating of Hold and a consensus target price of $37.17.

Shares of Core-Mark (NASDAQ CORE) opened at $24.18 on Friday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.12 and a current ratio of 2.16. The company has a market cap of $1,120.00, a P/E ratio of 27.17, a price-to-earnings-growth ratio of 1.77 and a beta of 0.95. Core-Mark has a fifty-two week low of $23.95 and a fifty-two week high of $43.94.

Core-Mark (NASDAQ:CORE) last announced its earnings results on Tuesday, November 7th. The business services provider reported $0.37 EPS for the quarter, missing the 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 anticipate that Core-Mark will post 1.16 earnings per share for the current fiscal year.

The business also recently announced 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 is an increase from Core-Mark’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Monday, November 27th. Core-Mark’s dividend payout ratio (DPR) is 44.94%.

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About Core-Mark

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.

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

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