On Monday, Freeport-McMoRan Inc (NYSE:FCX)’s shares inclined 0.40% to $6.24. With its recent share price change, FCX market value has reached roughly $7.18 billion. Its most recent quarter balance sheet showed the company is standing at a 1.70 current ratio and possess -1.89 as debt to equity ratio. The company has a Profit Margin (ttm) of negative -63.60% and has -7.80% gross margins. The operating profit margin is -72.60%. The stock’s performance in 1 month is -25.80% and its volatility for the same period is 6.26%.
Freeport-McMoRan Inc., a natural resource company, engages in the acquisition of mineral assets, and oil and natural gas resources. It primarily explores for copper, gold, molybdenum, cobalt, silver, and other metals, in addition to oil and gas.
Sunstone Hotel Investors Inc (NYSE:SHO)’s shares gained 3.33% to $13.66.
Sunstone Hotel Investors, Inc (SHO) declared that it has sold 100% of the membership interests in its wholly-owned partner that is the indirect holder of the leasehold interest through which the 468-room Doubletree Guest Suites Times Square (the “Hotel”) is operated (the “Sale”). The contractual gross sale price of $540.0 million (or about $1,154,000 per key) represents a 25.4x multiple on 2015 forecasted Hotel Adjusted EBITDA of $21.3 million, and a 3.4% capitalization rate on 2015 forecasted Hotel net operating income. Concurrent with the Sale, the Company repaid the remaining $175.0 million current balance of the mortgage secured by the Hotel.
Corporate Implications
The Sale has the following implications to the Company:
- Comparable Hotel RevPAR Growth: Year-to-date third quarter 2015 Comparable Hotel RevPAR growth was 5.9%. Adjusting for the Sale, Pro Forma Comparable Hotel RevPAR growth year-to-date third quarter 2015 would have been 6.5%, or 60 basis points higher.
- Comparable Hotel Adjusted EBITDA Margin: Year-to-date third quarter 2015 Comparable Hotel Adjusted EBITDA Margin was 31.1%, representing a 100 basis point enhance over the preceding year comparable figure. Adjusting for the Sale, year-to-date third quarter 2015 Pro Forma Comparable Hotel Adjusted EBITDA Margin would have been 31.3%, representing a 130 basis point enhance over the preceding year comparable figure.
- Leverage: After adjusting for the Sale, the repayment of the loan secured by the Hilton North Houston (see the talk aboution below regarding the “Houston Loan Repayment”) and the fourth quarter dividends to both common and preferred stockholders, the Company’s ratio of net debt plus preferred stock to Adjusted EBITDA as of September 30, 2015 would have reduced by about 0.8 times to 2.7 times.
- Liquidity: After adjusting for the Sale, the Houston Loan Repayment and the fourth quarter dividends to both common and preferred stockholders, third quarter pro forma unrestricted cash would have been about $307 million as of September 30, 2015 .
Sunstone Hotel Investors, Inc. operates as a real estate investment trust. The firm engages in the acquisition, ownership, asset administration, renovation, and sale of luxury, upper upscale, and upscale full-service hotels in the United States.
FMC Technologies, Inc. (NYSE:FTI)‘s shares surged 1.23% to $28.70. The last trading range of FMC Technologies, Inc. (NYSE:FTI) ranges between $28.08 and $28.85. The EPS of the company stands at $2.16. The 52-week range shows that the stock reached higher at $48.75 while its lower range is $27.94 in the last 52-weeks. The average volume of the company is at 2.57 million with the Outstanding Shares of 227.95 million. The market capitalization of the company is $6.46 billion. The Beta of the company stands at 1.04 with the RSI (Relative Strength Index) of 36.03.
FMC Technologies, Inc. provides technology solutions for the energy industry worldwide. The company operates through Subsea Technologies, Surface Technologies, and Energy Infrastructure segments.
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