Jefferies Group LLC Reaffirms “Buy” Rating for Harsco Co. (HSC)
Harsco Co. (NYSE:HSC)‘s stock had its “buy” rating reaffirmed by research analysts at Jefferies Group LLC in a research note issued to investors on Monday. They currently have a $15.00 price objective on the stock, up from their previous price objective of $13.00. Jefferies Group LLC’s price target indicates a potential upside of 20.97% from the company’s current price.
Other equities research analysts also recently issued research reports about the company. KeyCorp increased their target price on Harsco from $12.00 to $16.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 29th. Zacks Investment Research downgraded Harsco from a “hold” rating to a “sell” rating in a research report on Wednesday, January 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $15.00.
Shares of Harsco (NYSE:HSC) traded down 0.40% on Monday, reaching $12.40. The company’s stock had a trading volume of 713,446 shares. Harsco has a 12 month low of $5.00 and a 12 month high of $15.25. The stock has a 50 day moving average of $13.48 and a 200-day moving average of $12.15. The firm’s market cap is $994.26 million.
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Harsco (NYSE:HSC) last posted its earnings results on Friday, February 24th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.07. The firm had revenue of $360 million for the quarter, compared to the consensus estimate of $357.07 million. Harsco had a positive return on equity of 11.33% and a negative net margin of 5.21%. The business’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.11 earnings per share. On average, analysts anticipate that Harsco will post $0.41 EPS for the current year.
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Several large investors have recently modified their holdings of HSC. Penn Capital Management Co. Inc. increased its stake in shares of Harsco by 230.3% in the third quarter. Penn Capital Management Co. Inc. now owns 1,414,313 shares of the company’s stock worth $14,049,000 after buying an additional 986,146 shares during the period. Wynnefield Capital Inc. acquired a new stake in shares of Harsco during the fourth quarter worth about $9,737,000. New York State Common Retirement Fund increased its stake in shares of Harsco by 876.3% in the third quarter. New York State Common Retirement Fund now owns 748,785 shares of the company’s stock worth $7,435,000 after buying an additional 672,085 shares during the period. Victory Capital Management Inc. increased its stake in shares of Harsco by 27.5% in the third quarter. Victory Capital Management Inc. now owns 2,794,544 shares of the company’s stock worth $27,750,000 after buying an additional 602,839 shares during the period. Finally, Norges Bank acquired a new stake in shares of Harsco during the fourth quarter worth about $6,546,000. Institutional investors own 82.36% of the company’s stock.
Harsco Corporation is a provider of industrial services and engineered products serving global industries. The Company operates in three segments: Harsco Metals & Minerals, Harsco Industrial and Harsco Rail. Its Harsco Metals & Minerals segment is a provider of on-site, outsourced services to the metals industries across the world.
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