Brokerages Expect Harsco Corporation (HSC) Will Post Quarterly Sales of $402.80 Million
Brokerages expect Harsco Corporation (NYSE:HSC) to report $402.80 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Harsco Corporation’s earnings. The highest sales estimate is $410.70 million and the lowest is $389.10 million. Harsco Corporation posted sales of $367.79 million in the same quarter last year, which suggests a positive year over year growth rate of 9.5%. The firm is expected to announce its next earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that Harsco Corporation will report full year sales of $402.80 million for the current year, with estimates ranging from $1.54 billion to $1.59 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.61 billion per share, with estimates ranging from $1.55 billion to $1.65 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Harsco Corporation.
Harsco Corporation (NYSE:HSC) last released its earnings results on Thursday, August 3rd. The industrial products company reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.05. Harsco Corporation had a negative net margin of 1.38% and a positive return on equity of 26.28%. The firm had revenue of $394.89 million for the quarter, compared to analyst estimates of $384.40 million. During the same period in the prior year, the firm earned $0.15 earnings per share. The business’s quarterly revenue was up 6.7% compared to the same quarter last year.
HSC has been the topic of several analyst reports. Zacks Investment Research downgraded Harsco Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Argus upgraded Harsco Corporation from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Friday, September 15th. BidaskClub downgraded Harsco Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. Jefferies Group LLC restated a “buy” rating and set a $19.00 price objective (up from $18.00) on shares of Harsco Corporation in a report on Wednesday, August 9th. Finally, Lake Street Capital restated a “buy” rating on shares of Harsco Corporation in a report on Friday, August 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $19.50.
WARNING: This piece was first published by American Banking News and is the property of of American Banking News. If you are reading this piece on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark laws. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/19/brokerages-expect-harsco-corporation-hsc-will-post-quarterly-sales-of-402-80-million.html.
A number of institutional investors and hedge funds have recently modified their holdings of HSC. Flinton Capital Management LLC grew its stake in Harsco Corporation by 71.9% during the 2nd quarter. Flinton Capital Management LLC now owns 6,496 shares of the industrial products company’s stock worth $105,000 after buying an additional 2,716 shares during the last quarter. Invictus RG bought a new position in Harsco Corporation during the 1st quarter worth $120,000. Federated Investors Inc. PA grew its stake in Harsco Corporation by 1.7% during the 2nd quarter. Federated Investors Inc. PA now owns 7,678 shares of the industrial products company’s stock worth $124,000 after buying an additional 132 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in Harsco Corporation during the 1st quarter worth $148,000. Finally, Oppenheimer Asset Management Inc. bought a new position in Harsco Corporation during the 1st quarter worth $158,000. Hedge funds and other institutional investors own 80.67% of the company’s stock.
Harsco Corporation (NYSE:HSC) traded down 0.93% during mid-day trading on Thursday, hitting $21.30. 374,250 shares of the company were exchanged. The stock’s market cap is $1.71 billion. The firm has a 50 day moving average price of $19.61 and a 200 day moving average price of $16.25. Harsco Corporation has a 12 month low of $9.05 and a 12 month high of $21.75.
Harsco Corporation Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Harsco Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harsco Corporation and related companies with MarketBeat.com's FREE daily email newsletter.