|Bid||0.00 x 1000|
|Ask||9.99 x 800|
|Day's Range||7.56 - 7.94|
|52 Week Range||3.25 - 13.55|
|Beta (5Y Monthly)||2.13|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 04, 2020 - Nov 09, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||11.09|
Cars.com (CARS) 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.
Cars.com Inc. (NYSE: CARS) ("CARS" or the "Company"), a leading digital marketplace and solutions provider for the automotive industry, announced today that it has successfully priced its offering of $400 million aggregate principal amount of 6.375% senior unsecured notes due 2028 (the "Notes"). The Notes will bear interest at a fixed rate of 6.375% per year, payable semi-annually, and will mature on November 1, 2028. The offering is expected to close on October 30, 2020, subject to customary closing conditions. CARS intends to use the net proceeds of the offering, together with cash on hand, to repay certain borrowings under its existing credit facility.
Moody's Investors Service, ("Moody's") assigned a first-time B1 Corporate Family Rating (CFR) and a B1-PD Probability of Default Rating (PDR) to Cars.com Inc. (Cars.com). In connection with the proposed debt issuance, Moody's also assigned a B3 instrument rating to the new senior unsecured notes. Rating assignments remain subject to Moody's review of final transaction terms and conditions.