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YRCW

YRC Worldwide

$4.13

0.65 (18.68%)

12:41
09/11/19
09/11
12:41
09/11/19
12:41

YRC Worldwide spikes 20% after announcing new term loan pact

Earlier on Wednesday, YRC Worldwide announced it has completed a refinancing of its term loan obligations and entered into a term loan agreement with funds managed by affiliates of Apollo Global Management acting collectively as the lead lender for a $600M facility which provides additional liquidity and has a less restrictive financial covenant. This is expected to create operational runway as the company moves forward with its multi-year strategic initiatives designed to achieve sustained profitability. "The new Term Loan Agreement provides the company with increased liquidity through the elimination of annual principal amortization and the ability to reinvest cash proceeds from certain property sales back into the business. To successfully execute the company's multi-year strategy, it is essential we have a capital structure in place that provides added liquidity to invest in the initiatives we have planned and better positions the Company to navigate through cyclical economic environments," said Stephanie Fisher, CFO of YRC Worldwide. Shares of YRC Worldwide are up 19.80% or 69c ti $4.15 per share in afternoon trading on Wednesday.

  • 11

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  • 23

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  • 13

    Nov

YRCW YRC Worldwide
$4.13

0.65 (18.68%)

12/11/18
LOOP
12/11/18
NO CHANGE
Target $11
LOOP
Buy
YRC Worldwide price target lowered to $11 from $16 at Loop Capital
Loop Capital analyst Jeffrey Kauffman lowered his price target on YRC Worldwide to $11 to reflect the lower relative valuations and his more modest view for tonnage gains in 2019-2020. The analyst also keeps his Buy rating on the shares, raising his Q4 EPS forecast to (1c) from (7c) on "stronger Q4 fundamentals" and expectations of a "modest improvement in operating profits" that should follow the Teamster labor discussions early next year.
01/14/19
LOOP
01/14/19
NO CHANGE
Target $11
LOOP
Buy
YRC Worldwide multiple decline 'oversold', says Loop Capital
Loop Capital analyst Jeffrey Kauffman kept his Buy rating and $11 price target on YRC Worldwide, saying the environment in the less-than-truckload market remains healthy. The analyst adds that while the company is struggling in translating those fundamentals as effectively as its competitors, he sees it being capable of "much more". Kauffman also believes that the 5.3-times expected earnings multiple on YRC Worldwide stock is "oversold", even given the "cycle-low valuation ranges".
02/12/19
LOOP
02/12/19
NO CHANGE
LOOP
Buy
NEMF liquidation could be boost for LTL companies, says Loop Capital
After New England Motor Freight, or NEMF, announced that it was liquidating, Loop Capital analyst Jeffrey Kauffman noted that the company was the 19th largest LTL carrier by revenues in 2018 and had a reputation as more of a discounter. He believes NEMF's customers, which reportedly includes Amazon (AMZN), will be challenged to find capacity easily with other LTL carriers given the current tightness in the market. The analyst, who said the liquidation should buoy LTL companies, has a Buy rating on YRC Worldwide (YRCW).
07/12/19
LOOP
07/12/19
NO CHANGE
Target $11
LOOP
Buy
Loop Capital cuts FY19 EPS view on YRC Worldwide on unexpected HQ consolidation
Loop Capital analyst Jeffrey Kauffman kept his Buy rating and $11 price target on YRC Worldwide but also cut his FY19 EPS outlook to (97c) from (52c) after the company announced an "unexpected" consolidation at its headquarters earlier this week. The analyst notes that after the facility closures expected to occur in Q3 and Q4, the company will see cost savings of about $60M-$80M in FY20, keeping his EPS view for next year at $1.50. Kauffman adds that the outlook for YRC Worldwide will get "much brighter" relative to its trucking peers and also expects the LTL trucking environment to be steadier going forward. At 2.3-times his expected FY20 earnings, the analyst contends that the stock is "oversold".

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