$388.20 Million in Sales Expected for Harsco Corporation (HSC) This Quarter
Equities research analysts predict that Harsco Corporation (NYSE:HSC) will post sales of $388.20 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Harsco Corporation’s earnings, with the lowest sales estimate coming in at $387.50 million and the highest estimate coming in at $388.90 million. Harsco Corporation reported sales of $369.93 million in the same quarter last year, which indicates a positive year over year growth rate of 4.9%. The business is expected to announce its next earnings report on Thursday, August 3rd.
On average, analysts expect that Harsco Corporation will report full year sales of $388.20 million for the current year, with estimates ranging from $1.55 billion to $1.56 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.61 billion per share, with estimates ranging from $1.60 billion to $1.61 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Harsco Corporation.
Harsco Corporation (NYSE:HSC) last released its earnings results on Wednesday, May 3rd. The industrial products company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.09. Harsco Corporation had a positive return on equity of 20.08% and a negative net margin of 4.48%. The firm had revenue of $372.54 million during the quarter, compared to the consensus estimate of $343.40 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The company’s revenue was up 5.5% compared to the same quarter last year.
A number of analysts have weighed in on the company. BidaskClub raised Harsco Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 13th. Zacks Investment Research raised Harsco Corporation from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Tuesday, May 16th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $15.00 price objective (up from $13.00) on shares of Harsco Corporation in a research report on Monday, March 20th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $16.25.
In other news, SVP Scott H. Gerson sold 6,706 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $15.10, for a total value of $101,260.60. Following the completion of the sale, the senior vice president now directly owns 32,125 shares of the company’s stock, valued at approximately $485,087.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.76% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of HSC. State of Alaska Department of Revenue boosted its stake in Harsco Corporation by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 8,850 shares of the industrial products company’s stock valued at $112,000 after buying an additional 170 shares in the last quarter. Invictus RG acquired a new stake in Harsco Corporation during the first quarter valued at approximately $120,000. Quantbot Technologies LP acquired a new stake in Harsco Corporation during the first quarter valued at approximately $147,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Harsco Corporation during the first quarter valued at approximately $148,000. Finally, Cipher Capital LP acquired a new stake in Harsco Corporation during the first quarter valued at approximately $155,000. 83.95% of the stock is owned by institutional investors and hedge funds.
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Shares of Harsco Corporation (HSC) opened at 16.80 on Friday. The firm’s market cap is $1.35 billion. Harsco Corporation has a 12-month low of $5.81 and a 12-month high of $16.88. The company’s 50 day moving average price is $15.05 and its 200-day moving average price is $13.80.
About Harsco Corporation
Harsco Corporation is a provider of industrial services and engineered products. The Company operates in three segments: Harsco Metals & Minerals, Harsco Industrial and Harsco Rail. The Harsco Metals & Minerals segment provides outsourced on-site services to the global metals industry, with the operations focused in the United States, the United Kingdom, France and Brazil.
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