Horizon Global Corporation (HZN) Announces Earnings Results, Beats Expectations By $0.01 EPS
Horizon Global Corporation (NYSE:HZN) released its earnings results on Tuesday. The company reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.01, Bloomberg Earnings reports. The company had revenue of $240.10 million during the quarter, compared to the consensus estimate of $227.24 million. Horizon Global Corporation had a positive return on equity of 18.86% and a negative net margin of 1.45%. Horizon Global Corporation’s quarterly revenue was up 58.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS. Horizon Global Corporation updated its FY17 guidance to $1.04-1.14 EPS.
Shares of Horizon Global Corporation (NYSE:HZN) traded down 1.85% during trading on Wednesday, reaching $15.93. The company’s stock had a trading volume of 33,383 shares. The stock’s market cap is $397.23 million. The company has a 50 day moving average of $17.24 and a 200-day moving average of $17.23. Horizon Global Corporation has a 12-month low of $11.80 and a 12-month high of $26.36.
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In other news, CEO A Mark Zeffiro sold 27,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $16.38, for a total value of $442,260.00. Following the completion of the sale, the chief executive officer now directly owns 238,284 shares of the company’s stock, valued at approximately $3,903,091.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.27% of the stock is owned by company insiders.
A number of research firms recently weighed in on HZN. Zacks Investment Research upgraded Horizon Global Corporation from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Thursday, July 6th. Roth Capital set a $22.00 target price on Horizon Global Corporation and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. BidaskClub downgraded Horizon Global Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. BMO Capital Markets boosted their target price on Horizon Global Corporation from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. Finally, Bank of America Corporation downgraded Horizon Global Corporation from a “neutral” rating to an “underperform” rating in a research report on Tuesday, September 5th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Horizon Global Corporation presently has a consensus rating of “Hold” and an average target price of $19.83.
Horizon Global Corporation Company Profile
Horizon Global Corporation is a designer, manufacturer and distributor of a range of custom-engineered towing, trailering, cargo management and other products serving the automotive aftermarket, retail and original equipment (OE) channels. The Company operates through three segments: Horizon Americas, Horizon Asia-Pacific, and Horizon Europe-Africa.
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