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Cimpress Completes $525 Million Senior Notes Offering Due 2032
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Cimpress plc (CMPR - Free Report) recently completed its earlier announced private offering of senior notes worth $525 million in aggregate principal amount.
CMPR’s shares lost 0.4% on the last trading day to eventually close the trading session at $81.84.
Inside the Headlines
The senior notes carry an interest rate of 7.375% and are scheduled to mature in 2032. The notes are priced at 100% of the principal amount. Interest on the notes will be paid on a semi-annual basis.
Along with the senior notes offering, Cimpress revised its credit agreement to extend the maturity of its revolving credit facility and modify the interest rate on loans associated with the facility.
The net proceeds from the offering, along with available cash, were used by the company to redeem all 7.0% senior notes due 2026 and cover all fees and expenses related to the offering and the credit agreement amendment.
CMPR’s Zacks Rank & Price Performance
Cimpress is benefiting from strength across the Vista, National Pen and Upload & Print segments. The Vista segment is poised to gain from new product introductions while growth in the e-commerce channel is driving the National Pen segment. The strong order rate for products is driving the performance of the Upload & Print unit.
In the past year, this Zacks Rank #3 (Hold) company’s shares have risen 20% compared with the industry’s 16.5% growth.
Image Source: Zacks Investment Research
However, the escalating cost of revenues due to increasing production and shipping costs remains a concern. High debt levels are likely to weigh on Cimpress in the quarters ahead.
HRB delivered a trailing four-quarter average earnings surprise of 10.8%. In the past 60 days, the Zacks Consensus Estimate for H&R Block’s fiscal 2025 earnings has increased 9.7%.
Crane Company (CR - Free Report) presently carries a Zacks Rank #2 (Buy). The company delivered a trailing four-quarter average earnings surprise of 11.2%.
In the past 60 days, the Zacks Consensus Estimate for CR’s 2024 earnings has increased 2%.
Parker-Hannifin Corporation (PH - Free Report) currently carries a Zacks Rank of 2. PH delivered a trailing four-quarter average earnings surprise of 2.6%.
In the past 60 days, the consensus estimate for Parker-Hannifin’s fiscal 2025 earnings has increased 1.3%.
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Cimpress Completes $525 Million Senior Notes Offering Due 2032
Cimpress plc (CMPR - Free Report) recently completed its earlier announced private offering of senior notes worth $525 million in aggregate principal amount.
CMPR’s shares lost 0.4% on the last trading day to eventually close the trading session at $81.84.
Inside the Headlines
The senior notes carry an interest rate of 7.375% and are scheduled to mature in 2032. The notes are priced at 100% of the principal amount. Interest on the notes will be paid on a semi-annual basis.
Along with the senior notes offering, Cimpress revised its credit agreement to extend the maturity of its revolving credit facility and modify the interest rate on loans associated with the facility.
The net proceeds from the offering, along with available cash, were used by the company to redeem all 7.0% senior notes due 2026 and cover all fees and expenses related to the offering and the credit agreement amendment.
CMPR’s Zacks Rank & Price Performance
Cimpress is benefiting from strength across the Vista, National Pen and Upload & Print segments. The Vista segment is poised to gain from new product introductions while growth in the e-commerce channel is driving the National Pen segment. The strong order rate for products is driving the performance of the Upload & Print unit.
In the past year, this Zacks Rank #3 (Hold) company’s shares have risen 20% compared with the industry’s 16.5% growth.
Image Source: Zacks Investment Research
However, the escalating cost of revenues due to increasing production and shipping costs remains a concern. High debt levels are likely to weigh on Cimpress in the quarters ahead.
Stocks to Consider
Some better-ranked companies are discussed below.
H&R Block, Inc. (HRB - Free Report) currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
HRB delivered a trailing four-quarter average earnings surprise of 10.8%. In the past 60 days, the Zacks Consensus Estimate for H&R Block’s fiscal 2025 earnings has increased 9.7%.
Crane Company (CR - Free Report) presently carries a Zacks Rank #2 (Buy). The company delivered a trailing four-quarter average earnings surprise of 11.2%.
In the past 60 days, the Zacks Consensus Estimate for CR’s 2024 earnings has increased 2%.
Parker-Hannifin Corporation (PH - Free Report) currently carries a Zacks Rank of 2. PH delivered a trailing four-quarter average earnings surprise of 2.6%.
In the past 60 days, the consensus estimate for Parker-Hannifin’s fiscal 2025 earnings has increased 1.3%.