We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Machinery company EnPro Industries Inc. (NPO - Free Report) recently announced the pricing of tack-on offering of its $150 million Senior Notes due 2022. The notes carry a 5.875% coupon rate and belong to the same series as $300 million Senior Notes issued on Sep 16, 2014.
Over the last six months, EnPro Industries’ shares yielded 14.02% return, outperforming the gain of 8.63% recorded by the S&P 500.
As disclosed, EnPro Industries offered 5.875% Senior Notes due 2022 at a premium price of 101% of principal amount, plus accrued interest from Mar 15 to offer-closing date of Mar 24, 2016.
EnPro Industries intends to use the net proceeds from the issuance to repay its borrowings under the senior secured revolving credit facility and for general corporate purposes. Though such debt issuances satisfy general corporate purposes, we believe it makes the company more levered. Exiting 2016, the company had long-term debt of approximately $424.8 million, representing 19.3% increase over the year-ago tally of $356.28 million. If unchecked, higher debt levels will increase the company’s financial obligations and subsequently hurt its profitability.
EnPro Industries currently has a market capitalization of $1.37 billion and carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the machinery industry include Parker-Hannifin Corporation (PH - Free Report) , Roper Technologies, Inc. (ROP - Free Report) and Altra Industrial Motion Corporation . While both Parker-Hannifin and Roper Technologies sport a Zacks Rank #1 (Strong Buy), Altra Industrial Motion carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Parker-Hannifin reported better-than-expected results in the last four quarters, with an average positive earnings surprise of 12.44%. Also, bottom-line expectations for fiscal 2017 and fiscal 2018 have improved over the past 60 days.
Roper Technologies’ financial performance has been impressive, with an average positive earnings surprise of 0.92% for the last four quarters. Also, earnings estimates for 2017 and 2018 have been revised upward over the last 60 days.
Altra Industrial Motion reported better-than-expected results in the last four quarters, with an average positive earnings surprise of 12.49%. Also, its earnings estimates for 2017 and 2018 improved in the last 60 days.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report predicting the 7 stocks that will soar highest in the coming month.
Image: Bigstock
EnPro Industries (NPO) Prices $150M Senior Notes Offering
Machinery company EnPro Industries Inc. (NPO - Free Report) recently announced the pricing of tack-on offering of its $150 million Senior Notes due 2022. The notes carry a 5.875% coupon rate and belong to the same series as $300 million Senior Notes issued on Sep 16, 2014.
Over the last six months, EnPro Industries’ shares yielded 14.02% return, outperforming the gain of 8.63% recorded by the S&P 500.
As disclosed, EnPro Industries offered 5.875% Senior Notes due 2022 at a premium price of 101% of principal amount, plus accrued interest from Mar 15 to offer-closing date of Mar 24, 2016.
EnPro Industries intends to use the net proceeds from the issuance to repay its borrowings under the senior secured revolving credit facility and for general corporate purposes. Though such debt issuances satisfy general corporate purposes, we believe it makes the company more levered. Exiting 2016, the company had long-term debt of approximately $424.8 million, representing 19.3% increase over the year-ago tally of $356.28 million. If unchecked, higher debt levels will increase the company’s financial obligations and subsequently hurt its profitability.
EnPro Industries Price and Consensus
EnPro Industries Price and Consensus | EnPro Industries Quote
EnPro Industries currently has a market capitalization of $1.37 billion and carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the machinery industry include Parker-Hannifin Corporation (PH - Free Report) , Roper Technologies, Inc. (ROP - Free Report) and Altra Industrial Motion Corporation . While both Parker-Hannifin and Roper Technologies sport a Zacks Rank #1 (Strong Buy), Altra Industrial Motion carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Parker-Hannifin reported better-than-expected results in the last four quarters, with an average positive earnings surprise of 12.44%. Also, bottom-line expectations for fiscal 2017 and fiscal 2018 have improved over the past 60 days.
Roper Technologies’ financial performance has been impressive, with an average positive earnings surprise of 0.92% for the last four quarters. Also, earnings estimates for 2017 and 2018 have been revised upward over the last 60 days.
Altra Industrial Motion reported better-than-expected results in the last four quarters, with an average positive earnings surprise of 12.49%. Also, its earnings estimates for 2017 and 2018 improved in the last 60 days.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging
phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>