|Bid||26.75 x 800|
|Ask||28.30 x 1000|
|Day's Range||26.34 - 27.88|
|52 Week Range||20.15 - 76.68|
|Beta (5Y Monthly)||1.09|
|PE Ratio (TTM)||17.42|
|Earnings Date||Apr 23, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|Ex-Dividend Date||Mar 30, 2020|
|1y Target Est||33.00|
(Bloomberg Opinion) -- In the pre-coronavirus days, the Los Angeles Lakers was one of the most valuable and profitable sports franchises on the planet. Forbes estimated last year that the team earned $147 million in 2018 and would fetch about $3.7 billion in a sale. A trust controlled by the children of the late Jerry Buss, a wealthy investor, owns a majority stake in the team. Other co-owners include Philip Anschutz, a billionaire with a broad portfolio of holdings in energy, real estate, media, entertainment and other industries; Edward Roski Jr., a successful commercial real estate developer; and Patrick Soon-Shiong, who owns the Los Angeles Times.The Lakers, as ESPN reported on Monday, received $4.6 million in bailout funds from the federal government as part of the $349 billion Paycheck Protection Program meant to backstop struggling small businesses sideswiped by Covid-19. The Lakers operation has fewer than 500 employees, which qualifies it as a small business under the government’s aid guidelines. But the Lakers hardly seem as immediately vulnerable, or without access to other resources, as, say, your corner grocer, baker, barber or dry cleaner. The Lakers, undoubtedly aware of a wave of recent disclosures about unlikely companies receiving PPP funds, told ESPN it returned the $4.6 million.The Lakers said it decided to disgorge the money after learning the entire $349 billion in federal aid was scooped up in two weeks, thereby leaving out tens of millions of other small businesses the team described as “most in need.” Indeed, only an insignificant percentage — 5% or less — of U.S. small businesses appear to have received funding from the problem-riddled program according to my own take on the data. And much of it, according to Bloomberg News, hasn’t even found its way to small businesses in regions most severely derailed by the coronavirus pandemic.Despite gaping holes in the program’s launch — or perhaps precisely because of them — the government had to approve a second, $380 billion round of funding last week. The doors opened to prospective small-business borrowers on the new round on Monday, and, like the first round, application and administrative problems erupted. Banks also took to social media to complain about all of the snafus they were encountering.The Treasury Department and the Small Business Administration have overseen the PPP program and haven’t provided enough public information about exactly which companies have received money and how they were screened. It bodes poorly for how effectively this new huge pool of funding will be deployed.“It is reckless for the Small Business Administration and Treasury Department to release a second round of funding before clarifying the major gaps and issues with the Paycheck Protection Program. The program still lacks clear terms for forgiveness, rules prohibiting banks from again prioritizing applications of larger clients, and guidance for new lenders to come online to the program,” the Main Street Alliance, an advocacy group for small businesses, said in a statement on Monday. “With funding likely to run out in 48 hours, it is ludicrous that Congress thinks it has done its job supporting small businesses.”Fortunately, a flow of valuable reporting in recent days has identified some questionable recipients of federal aid and offers a window into how haphazard and inequitable the PPP program already appears to be. Consider:NBC reported that its analysis of about 200 PPP recipients revealed at least a dozen examples of firms possibly leveraging relationships, gaming the program or overcoming problematic backgrounds to receive funding. That group includes Cinedigm Corp., an entertainment company controlled by a Chinese investment firm, and MiMedx Group, a skin-graft company repeatedly mired in law enforcement investigations. It also includes Hallador Energy, Crawford United and Flotek Industries, all of which have ties to the Trump administration and which collectively snared $18.3 million in PPP funds. (Hallador and Crawford didn’t respond to queries from NBC; Flotek said it didn’t take advantage of White House relationships to obtain funding.) The Associated Press reported that at least 94 PPP recipients were publicly traded companies with market values greater than $100 million. About a quarter of those companies had warned investors long before the coronavirus arrived that their fortunes had so soured that they might not be able to stay in business. The AP also said that its review “found examples of companies that had foreign owners and that were delisted from U.S. stock exchanges, or threatened with removal, because of their poor stock performance before the coronavirus hit. Other companies have had annual losses for years.” The Washington Post reported that AutoNation Inc., a national network of automobile dealers with 26,000 employees and a $3.2 billion market valuation, received $77 million in PPP funding. “AutoNation used separate tax identification numbers assigned to dozens of its more than 300 locations to apply for at least $266 million in funds for separate dealerships,” the Post reported. I’ve noted in an earlier column that a loophole in the $2.6 trillion federal bailout program would allow large chains and franchises that might not otherwise qualify as small businesses to apply for PPP aid on a store-by-store or location-by-location basis. The Wall Street Journal reported that dozens of publicly traded firms, including Accelerate Diagnostics Inc. and DMC Global Inc., received $500 million in PPP funds. The New York Times and Bloomberg News reported that a group of publicly traded luxury hotel companies controlled by lodging magnate and Trump donor Monty Bennett received more than $50 million in PPP aid. Bloomberg has also reported that IDT Corp., Universal Stainless and Lindblad Expeditions Holdings Inc. — all companies that have more than 500 employees — received nearly $27 million. (IDT said it’s returning the $10 million it received.) I wrote earlier about the complaints targeting Shake Shack Inc., Potbelly Corp. and Ruth’s Hospitality Group Inc. — all large restaurant chains — when they disclosed they had received PPP funding.All of this is just for starters. Much still seems to be amiss with the $729 billion avalanche of federal funds that have cascaded toward banks and small businesses, and we’ll undoubtedly learn of more problems now that we’ve entered the program’s second act. And we still don’t know whether federal aid it will have its desired effect: supporting workers left in the cold by the pandemic while also ensuring that the unprecedented crisis enveloping small businesses doesn’t become an apocalypse.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Timothy L. O'Brien is a senior columnist for Bloomberg Opinion.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
DMC Global, a publicly traded Broomfield-based oil and gas industry supplier, has returned $6.7 million it borrowed under a federal loan program meant to help small businesses prevent layoffs and pay employees.
DMC Global (BOOM) delivered earnings and revenue surprises of -10.26% and -3.08%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
The Treasury Department on Thursday follows up on its pledge to get money back from big public companies that received loans meant for small businesses hurt by the coronavirus crisis.
Bruce Alexander, the longtime president and CEO of Vectra Bank Colorado, has led the bank through several downturns including the Great Recession and the dot-com bubble. “This is the most intense experience I’ve ever been through,” Alexander said. Salt Lake City, Utah-based Zions Bancorporation (Nasdaq: ZION) does business in Colorado as Vectra Bank Colorado, which is the 13th-largest bank in the state by deposits.
BROOMFIELD, Colo., April 23, 2020 -- DMC Global Inc. (Nasdaq: BOOM) recently applied for a loan under the U.S. Government’s Paycheck Protection Program (PPP). The application.
Consolidated first quarter sales were $73.6 million, down 15% sequentially and down 27% from Q1 2019 as the COVID-19 pandemic drove a sharp decline in oil and gas demand and.
One loan went to a company after its CEO told shareholders it was “well-positioned” to weather the downturn, including access to $50 million in undrawn credit.
DMC Global (BOOM) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
BROOMFIELD, Colo., April 15, 2020 -- DMC Global Inc. (Nasdaq: BOOM) today announced John Scheatzle has resigned as president of NobelClad, DMC’s composite metals business..
BROOMFIELD, Colo., April 14, 2020 -- DMC Global Inc. (Nasdaq: BOOM) will announce its 2020 first quarter financial results after the stock market closes on Thursday, April 23,.
BROOMFIELD, Colo., April 08, 2020 -- DMC Global Inc. (Nasdaq: BOOM) has published its Annual Letter to Stakeholders from President and Chief Executive Officer Kevin Longe. The.
A Broomfield-based manufacturer of oil and gas well drilling products laid off 264 people Wednesday, saying demand for its well-completion explosives has disappeared. DMC Global Inc. (Nasdaq: BOOM) cut a third of its staff, including 97 temporary positions, mainly of positions in Texas and Europe connected to the company’s DynaEnergetics business that manufactures and assembles perforation explosives used to blow holes in the steel piping that lines oil and gas wells. “This workforce reduction is a difficult and unfortunate process, but it is essential we realign the size of our organization to match the smaller size of our addressable market,” said Kevin Longe, president and CEO of DMC, in a statement.
DMC Global Inc. (BOOM) today reported it has reduced its workforce by 264 positions, 97 of which were temporary workers. The workforce reduction principally impacted full-time, part-time and temporary direct-labor roles in manufacturing and assembly at DynaEnergetics, DMC’s oilfield products business. Several general and administrative positions also were eliminated at DynaEnergetics, as well as at DMC’s corporate office, and at NobelClad, DMC’s composite metals business.
Every company wants explosive growth, but for the Colorado-based metalworking company, DMC Global (NASDAQ: BOOM), explosiveness is the name of their game.Being Explosive The company has two segments: perforation and explosive metalworking. The latter is where the company gets its explosive ticker. Explosive metalworking is where explosives are used to perform metal cladding and shock synthesis, instead of a punch or press. To further the company's relationship with explosives, its main product is an explosion-welded clad metal plate.See Also: The Story Behind The Ticker: Constellation BrandsGlobal Isn't Only A Name Although explosiveness is a big part of the company, it's much more than that. DMC Global also has a hand in the oil & gas industry. In its perforating segment, the business designs and manufactures well-completion systems under the name DynaEnergetics, whereas its explosive welding business operates under the name NobelClad.While it's safe to say a lot of companies don't put much thought into its ticker, DMC Global ignited thought into its ticker symbol.See more from Benzinga * 6 Stocks Moving In Thursday's After-Hours Session * 7 Stocks Moving In Wednesday's After-Hours Session * 4 Stocks Moving In Tuesday's After-Hours Session(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
BROOMFIELD, Colo., March 17, 2020 -- DMC Global Inc. (Nasdaq: BOOM) today announced its board of directors has declared a quarterly cash dividend of $0.125 per share. The.
BROOMFIELD, Colo., March 16, 2020 -- DMC Global Inc. (Nasdaq: BOOM) today said its first-quarter and full-year 2020 financial guidance provided on February 20, 2020, is no.
Unfortunately for some shareholders, the DMC Global (NASDAQ:BOOM) share price has dived 43% in the last thirty days...
DMC Global (BOOM) delivered earnings and revenue surprises of 41.30% and 3.56%, respectively, for the quarter ended December 2019. Do the numbers hold clues to what lies ahead for the stock?
Full-year 2019 sales were a record $397.6 million, up 22% from 2018Fourth quarter sales were $86.4 million, down 14% sequentially and down 4% versus Q4 2018Fourth quarter gross.