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Stock Market & Financial Investment News

News Breaks
February 4, 2014
05:38 EDTSLCAU.S. Silica downgraded to Hold from Buy at Jefferies
Jefferies downgraded U.S. Silica citing the company's lack of progress in managing logistics and weaker than expected volumes of higher-grade sand. The firm lowered its price target for shares to $31 from $41.
News For SLCA From The Last 14 Days
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July 29, 2014
17:39 EDTSLCAU.S. Silica raises FY14 EBITDA to $215M-$225M
The Company is increasing the guidance it provided in its press release dated April 29, 2014. The Company now expects capital expenditures in the range of $95M-$105M and an effective tax rate of approximately 27%. FY14 EBITDA view includes a small contribution from the Cadre acquisition.
17:38 EDTSLCAU.S. Silica reports Q2 EPS 55c, consensus 46c
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July 18, 2014
07:27 EDTSLCAU.S. Silica price target raised to $69 from $54 at Jefferies
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July 17, 2014
07:51 EDTSLCAU.S. Silica to host conference call
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July 16, 2014
17:09 EDTSLCAU.S. Silica to acquire Cadre Services for $98M cash
U.S. Silica Holdings announced that it has signed a stock purchase agreement to acquire all of the outstanding shares of Cadre Services for approximately $98M in cash. Closing is expected by the end of the month. The purchase price of $98M, less the net present value of approximately $14M in deferred tax assets, results in $84M of net consideration. Adjusted LTM EBITDA of $11.1M represents a purchase price multiple of 7.6 times. Projected 2015 Adjusted EBITDA of approximately $18M after synergies and the benefit of a full year of sales from the March capacity expansion represents a purchase price multiple of 4.7 times. This would result in Adjusted EPS accretion of 11c-13c per share in 2015.

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