Intrinsic value of Essendant - ESND

Previous Close

$14.42

  Intrinsic Value

$22.77

stock screener

  Rating & Target

str. buy

+58%

Previous close

$14.42

 
Intrinsic value

$22.77

 
Up/down potential

+58%

 
Rating

str. buy

We calculate the intrinsic value of ESND stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.5

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  2.00
  2.30
  2.57
  2.81
  3.03
  3.23
  3.41
  3.57
  3.71
  3.84
  3.95
  4.06
  4.15
  4.24
  4.31
  4.38
  4.44
  4.50
  4.55
  4.59
  4.64
  4.67
  4.70
  4.73
  4.76
  4.78
  4.81
  4.83
  4.84
  4.86
Revenue, $m
  5,138
  5,256
  5,391
  5,543
  5,711
  5,895
  6,096
  6,313
  6,547
  6,799
  7,067
  7,354
  7,660
  7,984
  8,329
  8,694
  9,080
  9,488
  9,920
  10,376
  10,857
  11,364
  11,899
  12,462
  13,055
  13,680
  14,337
  15,029
  15,757
  16,523
Variable operating expenses, $m
  5,025
  5,140
  5,272
  5,420
  5,584
  5,764
  5,960
  6,172
  6,401
  6,646
  6,900
  7,180
  7,478
  7,795
  8,131
  8,487
  8,864
  9,263
  9,685
  10,130
  10,599
  11,094
  11,616
  12,166
  12,746
  13,355
  13,997
  14,673
  15,383
  16,131
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  5,025
  5,140
  5,272
  5,420
  5,584
  5,764
  5,960
  6,172
  6,401
  6,646
  6,900
  7,180
  7,478
  7,795
  8,131
  8,487
  8,864
  9,263
  9,685
  10,130
  10,599
  11,094
  11,616
  12,166
  12,746
  13,355
  13,997
  14,673
  15,383
  16,131
Operating income, $m
  113
  116
  119
  123
  127
  131
  136
  141
  147
  153
  168
  174
  182
  189
  198
  206
  215
  225
  235
  246
  258
  270
  282
  296
  310
  325
  340
  357
  374
  392
EBITDA, $m
  159
  163
  167
  171
  177
  182
  189
  195
  202
  210
  219
  227
  237
  247
  258
  269
  281
  293
  307
  321
  336
  351
  368
  385
  404
  423
  443
  465
  487
  511
Interest expense (income), $m
  23
  27
  28
  30
  32
  34
  36
  39
  41
  44
  48
  51
  55
  59
  63
  67
  72
  77
  82
  88
  94
  100
  107
  114
  121
  129
  137
  145
  154
  164
  174
Earnings before tax, $m
  86
  88
  89
  91
  93
  95
  97
  100
  102
  105
  117
  120
  123
  127
  130
  134
  138
  143
  147
  152
  157
  163
  169
  175
  181
  188
  195
  202
  210
  218
Tax expense, $m
  23
  24
  24
  25
  25
  26
  26
  27
  28
  28
  31
  32
  33
  34
  35
  36
  37
  39
  40
  41
  43
  44
  46
  47
  49
  51
  53
  55
  57
  59
Net income, $m
  63
  64
  65
  66
  68
  69
  71
  73
  75
  77
  85
  87
  90
  92
  95
  98
  101
  104
  108
  111
  115
  119
  123
  128
  132
  137
  142
  148
  153
  159

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,810
  1,851
  1,899
  1,952
  2,012
  2,076
  2,147
  2,224
  2,306
  2,395
  2,489
  2,590
  2,698
  2,812
  2,934
  3,062
  3,198
  3,342
  3,494
  3,655
  3,824
  4,003
  4,191
  4,390
  4,599
  4,819
  5,050
  5,294
  5,550
  5,820
Adjusted assets (=assets-cash), $m
  1,810
  1,851
  1,899
  1,952
  2,012
  2,076
  2,147
  2,224
  2,306
  2,395
  2,489
  2,590
  2,698
  2,812
  2,934
  3,062
  3,198
  3,342
  3,494
  3,655
  3,824
  4,003
  4,191
  4,390
  4,599
  4,819
  5,050
  5,294
  5,550
  5,820
Revenue / Adjusted assets
  2.839
  2.840
  2.839
  2.840
  2.838
  2.840
  2.839
  2.839
  2.839
  2.839
  2.839
  2.839
  2.839
  2.839
  2.839
  2.839
  2.839
  2.839
  2.839
  2.839
  2.839
  2.839
  2.839
  2.839
  2.839
  2.839
  2.839
  2.839
  2.839
  2.839
Average production assets, $m
  370
  378
  388
  399
  411
  424
  439
  455
  471
  489
  509
  530
  551
  575
  600
  626
  654
  683
  714
  747
  782
  818
  857
  897
  940
  985
  1,032
  1,082
  1,135
  1,190
Working capital, $m
  329
  336
  345
  355
  365
  377
  390
  404
  419
  435
  452
  471
  490
  511
  533
  556
  581
  607
  635
  664
  695
  727
  762
  798
  836
  876
  918
  962
  1,008
  1,057
Total debt, $m
  524
  554
  588
  626
  669
  716
  767
  822
  882
  945
  1,014
  1,087
  1,164
  1,247
  1,334
  1,427
  1,525
  1,629
  1,738
  1,854
  1,976
  2,105
  2,241
  2,384
  2,534
  2,693
  2,860
  3,036
  3,221
  3,415
Total liabilities, $m
  1,305
  1,335
  1,369
  1,408
  1,450
  1,497
  1,548
  1,603
  1,663
  1,727
  1,795
  1,868
  1,945
  2,028
  2,115
  2,208
  2,306
  2,410
  2,519
  2,635
  2,757
  2,886
  3,022
  3,165
  3,316
  3,474
  3,641
  3,817
  4,002
  4,196
Total equity, $m
  505
  517
  530
  545
  561
  579
  599
  620
  643
  668
  695
  723
  753
  785
  818
  854
  892
  932
  975
  1,020
  1,067
  1,117
  1,169
  1,225
  1,283
  1,344
  1,409
  1,477
  1,549
  1,624
Total liabilities and equity, $m
  1,810
  1,852
  1,899
  1,953
  2,011
  2,076
  2,147
  2,223
  2,306
  2,395
  2,490
  2,591
  2,698
  2,813
  2,933
  3,062
  3,198
  3,342
  3,494
  3,655
  3,824
  4,003
  4,191
  4,390
  4,599
  4,818
  5,050
  5,294
  5,551
  5,820
Debt-to-equity ratio
  1.040
  1.070
  1.110
  1.150
  1.190
  1.240
  1.280
  1.330
  1.370
  1.420
  1.460
  1.500
  1.550
  1.590
  1.630
  1.670
  1.710
  1.750
  1.780
  1.820
  1.850
  1.880
  1.920
  1.950
  1.980
  2.000
  2.030
  2.060
  2.080
  2.100
Adjusted equity ratio
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279
  0.279

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  63
  64
  65
  66
  68
  69
  71
  73
  75
  77
  85
  87
  90
  92
  95
  98
  101
  104
  108
  111
  115
  119
  123
  128
  132
  137
  142
  148
  153
  159
Depreciation, amort., depletion, $m
  46
  47
  48
  49
  50
  51
  53
  54
  56
  58
  51
  53
  55
  57
  60
  63
  65
  68
  71
  75
  78
  82
  86
  90
  94
  98
  103
  108
  113
  119
Funds from operations, $m
  109
  111
  113
  115
  118
  121
  124
  127
  130
  134
  136
  140
  145
  150
  155
  161
  166
  173
  179
  186
  193
  201
  209
  217
  226
  236
  245
  256
  267
  278
Change in working capital, $m
  6
  8
  9
  10
  11
  12
  13
  14
  15
  16
  17
  18
  20
  21
  22
  23
  25
  26
  28
  29
  31
  32
  34
  36
  38
  40
  42
  44
  47
  49
Cash from operations, $m
  102
  103
  104
  105
  107
  109
  111
  113
  115
  118
  119
  122
  125
  129
  133
  137
  142
  146
  151
  157
  162
  168
  175
  181
  188
  196
  203
  212
  220
  229
Maintenance CAPEX, $m
  -36
  -37
  -38
  -39
  -40
  -41
  -42
  -44
  -45
  -47
  -49
  -51
  -53
  -55
  -57
  -60
  -63
  -65
  -68
  -71
  -75
  -78
  -82
  -86
  -90
  -94
  -98
  -103
  -108
  -113
New CAPEX, $m
  -5
  -9
  -10
  -11
  -12
  -13
  -14
  -16
  -17
  -18
  -19
  -21
  -22
  -23
  -25
  -26
  -28
  -29
  -31
  -33
  -35
  -37
  -38
  -41
  -43
  -45
  -47
  -50
  -52
  -55
Cash from investing activities, $m
  -41
  -46
  -48
  -50
  -52
  -54
  -56
  -60
  -62
  -65
  -68
  -72
  -75
  -78
  -82
  -86
  -91
  -94
  -99
  -104
  -110
  -115
  -120
  -127
  -133
  -139
  -145
  -153
  -160
  -168
Free cash flow, $m
  60
  58
  57
  56
  55
  54
  54
  53
  53
  53
  51
  50
  51
  51
  51
  51
  51
  52
  52
  52
  53
  54
  54
  55
  56
  57
  57
  58
  60
  61
Issuance/(repayment) of debt, $m
  26
  30
  34
  39
  43
  47
  51
  55
  59
  64
  68
  73
  78
  82
  87
  93
  98
  104
  110
  116
  122
  129
  136
  143
  151
  159
  167
  176
  185
  194
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  26
  30
  34
  39
  43
  47
  51
  55
  59
  64
  68
  73
  78
  82
  87
  93
  98
  104
  110
  116
  122
  129
  136
  143
  151
  159
  167
  176
  185
  194
Total cash flow (excl. dividends), $m
  86
  88
  91
  94
  98
  101
  105
  109
  113
  117
  119
  123
  128
  133
  138
  144
  149
  155
  162
  168
  175
  182
  190
  198
  206
  215
  224
  234
  244
  255
Retained Cash Flow (-), $m
  -10
  -12
  -13
  -15
  -17
  -18
  -20
  -21
  -23
  -25
  -26
  -28
  -30
  -32
  -34
  -36
  -38
  -40
  -42
  -45
  -47
  -50
  -53
  -55
  -58
  -61
  -65
  -68
  -72
  -75
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  5
  5
  5
  5
  6
  6
  6
  6
  6
  7
  7
  7
  7
  8
  8
  8
  9
  9
  9
  10
  10
  11
  11
  12
  12
  13
  14
  14
  15
  16
Cash available for distribution, $m
  76
  76
  78
  79
  81
  83
  85
  87
  90
  92
  92
  95
  98
  101
  104
  108
  111
  115
  119
  123
  128
  133
  137
  143
  148
  154
  160
  166
  173
  180
Discount rate, %
  5.20
  5.46
  5.73
  6.02
  6.32
  6.64
  6.97
  7.32
  7.68
  8.07
  8.47
  8.89
  9.34
  9.81
  10.30
  10.81
  11.35
  11.92
  12.51
  13.14
  13.80
  14.49
  15.21
  15.97
  16.77
  17.61
  18.49
  19.41
  20.38
  21.40
PV of cash for distribution, $m
  72
  68
  66
  63
  60
  56
  53
  50
  46
  42
  38
  34
  31
  27
  24
  21
  18
  15
  13
  10
  8
  7
  5
  4
  3
  2
  2
  1
  1
  1
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Essendant Inc. (Essendant) is a wholesale distributor of workplace items. The Company's product portfolio includes Janitorial, Foodservice and Breakroom Supplies (JanSan), Technology Products, Traditional Office Products, Industrial Supplies, Cut Sheet Paper Products, Automotive Products and Office Furniture. It operates principally within the United States, with additional operations in Canada and Dubai, the United Arab Emirates (UAE). As of December 31, 2016, the Company provided access to over 22,000 items in these lines: janitorial supplies (cleaners and cleaning accessories), breakroom items (food and beverage products), foodservice consumables (such as disposable cups, plates and utensils), safety and security items, and paper and packaging supplies. As of December 31, 2016, the Company provided access to approximately 11,000 items, including imaging supplies, data storage, digital cameras, computer accessories and computer hardware items, such as printers and other peripherals.

FINANCIAL RATIOS  of  Essendant (ESND)

Valuation Ratios
P/E Ratio 8.4
Price to Sales 0.1
Price to Book 0.7
Price to Tangible Book
Price to Cash Flow 4.1
Price to Free Cash Flow 5.8
Growth Rates
Sales Growth Rate 0.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 35.7%
Cap. Spend. - 3 Yr. Gr. Rate 2.2%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 78%
Total Debt to Equity 78%
Interest Coverage 5
Management Effectiveness
Return On Assets 3.6%
Ret/ On Assets - 3 Yr. Avg. 1.1%
Return On Total Capital 4.5%
Ret/ On T. Cap. - 3 Yr. Avg. 3.1%
Return On Equity 8.5%
Return On Equity - 3 Yr. Avg. 5.4%
Asset Turnover 2.4
Profitability Ratios
Gross Margin 14.2%
Gross Margin - 3 Yr. Avg. 14.9%
EBITDA Margin 3%
EBITDA Margin - 3 Yr. Avg. 3%
Operating Margin 2.2%
Oper. Margin - 3 Yr. Avg. 2.2%
Pre-Tax Margin 1.8%
Pre-Tax Margin - 3 Yr. Avg. 1.8%
Net Profit Margin 1.2%
Net Profit Margin - 3 Yr. Avg. 0.8%
Effective Tax Rate 32.6%
Eff/ Tax Rate - 3 Yr. Avg. 203.8%
Payout Ratio 31.3%

ESND stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ESND stock intrinsic value calculation we used $5037 million for the last fiscal year's total revenue generated by Essendant. The default revenue input number comes from 2017 income statement of Essendant. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our ESND stock valuation model: a) initial revenue growth rate of 2% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 5.2%, whose default value for ESND is calculated based on our internal credit rating of Essendant, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Essendant.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of ESND stock the variable cost ratio is equal to 97.8%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for ESND stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Essendant.

Corporate tax rate of 27% is the nominal tax rate for Essendant. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the ESND stock is equal to 0.1%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for ESND are equal to 7.2%.

Life of production assets of 10 years is the average useful life of capital assets used in Essendant operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for ESND is equal to 6.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $495 million for Essendant - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 37 million for Essendant is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Essendant at the current share price and the inputted number of shares is $0.5 billion.

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ODP Office Depot 2.71 10.93  str.buy
SYX Systemax 44.37 98.41  str.buy
URI United Rentals 151.11 178.56  hold

COMPANY NEWS

▶ Genuine Parts credits acquisitions for record-breaking quarter   [Jul-19-18 11:09AM  American City Business Journals]
▶ Genuine Parts buys German part supplier, expands European footprint   [Jun-07-18 11:12AM  American City Business Journals]
▶ Essendant's Board Declares Regular Dividend   [May-25-18 02:05PM  PR Newswire]
▶ Essendant Adopts Stockholder Rights Plan   [May-17-18 01:30PM  PR Newswire]
▶ Why Essendant Stock Plunged 24% Today   [Apr-26-18 08:22PM  Motley Fool]
▶ Essendant: 1Q Earnings Snapshot   [Apr-25-18 06:45PM  Associated Press]
▶ Genuine Parts spins off S.P. Richards in merger   [Apr-13-18 12:58PM  American City Business Journals]
▶ Deals of the day-Mergers and acquisitions   [Apr-12-18 04:02PM  Reuters]
▶ Essendant To Report First Quarter 2018 Results   [Apr-03-18 04:05PM  PR Newswire]
▶ Essendant Inc. to Host Earnings Call   [06:30AM  ACCESSWIRE]
▶ Essendant reports 4Q loss   [Feb-21-18 07:35PM  Associated Press]
▶ Essendant's Board Declares Regular Dividend   [Feb-16-18 10:28AM  PR Newswire]
▶ ETFs with exposure to Essendant, Inc. : December 19, 2017   [Dec-19-17 12:54PM  Capital Cube]
▶ ETFs with exposure to Essendant, Inc. : December 5, 2017   [Dec-05-17 12:46PM  Capital Cube]
▶ ETFs with exposure to Essendant, Inc. : November 21, 2017   [Nov-21-17 11:43AM  Capital Cube]
▶ ETFs with exposure to Essendant, Inc. : November 9, 2017   [Nov-09-17 12:39PM  Capital Cube]
▶ ETFs with exposure to Essendant, Inc. : October 30, 2017   [Oct-30-17 11:45AM  Capital Cube]
▶ Essendant Inc. to Host Earnings Call   [06:40AM  ACCESSWIRE]
▶ Essendant reports 3Q loss   [Oct-25-17 07:57PM  Associated Press]
▶ Is It Too Late To Buy Essendant Inc (ESND)?   [08:48AM  Simply Wall St.]
▶ ETFs with exposure to Essendant, Inc. : October 11, 2017   [Oct-11-17 11:28AM  Capital Cube]
▶ Essendant To Report Third Quarter 2017 Results   [Sep-28-17 01:00PM  PR Newswire]
▶ Essendant's Board Declares Regular Dividend   [Sep-18-17 10:13AM  PR Newswire]
▶ ETFs with exposure to Essendant, Inc. : August 22, 2017   [Aug-22-17 04:06PM  Capital Cube]
▶ ETFs with exposure to Essendant, Inc. : August 11, 2017   [Aug-11-17 05:25PM  Capital Cube]
▶ Investor Network: Essendant Inc. to Host Earnings Call   [Jul-27-17 06:50AM  ACCESSWIRE]
▶ Essendant posts 2Q profit   [Jul-26-17 11:23PM  Associated Press]
▶ Essendant's Board Declares Regular Dividend   [Jul-12-17 10:30AM  PR Newswire]
▶ Essendant To Report Second Quarter 2017 Results   [Jun-27-17 06:00PM  PR Newswire]
▶ Facebook and State Street climb; Cheesecake Factory skids   [Jun-13-17 05:26PM  Associated Press]
▶ Essendant's Board Declares Regular Dividend   [May-24-17 04:15PM  PR Newswire]
▶ New Strong Buy Stocks for May 19th   [May-19-17 09:50AM  Zacks]
▶ ETFs with exposure to Essendant, Inc. : May 9, 2017   [May-09-17 04:35PM  Capital Cube]
▶ Can The Uptrend Continue for Essendant (ESND)?   [May-03-17 04:52AM  Zacks]
▶ Essendant reports 1Q loss   [Apr-26-17 06:54PM  Associated Press]
▶ ETFs with exposure to Essendant, Inc. : April 7, 2017   [Apr-07-17 04:27PM  Capital Cube]
▶ Essendant To Report First Quarter 2017 Results   [Apr-03-17 04:15PM  PR Newswire]
▶ Essendant reports 4Q loss   [Feb-27-17 05:14PM  Associated Press]
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