Horizon Global Corporation (HZN) Expected to Post Quarterly Sales of $197.55 Million
Brokerages predict that Horizon Global Corporation (NYSE:HZN) will post sales of $197.55 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Horizon Global Corporation’s earnings. The highest sales estimate is $210.70 million and the lowest is $186.49 million. Horizon Global Corporation reported sales of $183.61 million in the same quarter last year, which would suggest a positive year over year growth rate of 7.6%. The business is expected to report its next quarterly earnings report on Thursday, March 8th.
On average, analysts expect that Horizon Global Corporation will report full year sales of $197.55 million for the current year, with estimates ranging from $902.00 million to $907.70 million. For the next fiscal year, analysts anticipate that the business will report sales of $918.24 million per share, with estimates ranging from $895.00 million to $946.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Horizon Global Corporation.
Horizon Global Corporation (NYSE:HZN) last released its quarterly earnings data on Tuesday, October 31st. The company reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.01. The firm had revenue of $240.10 million during the quarter, compared to analysts’ expectations of $227.24 million. Horizon Global Corporation had a negative net margin of 0.56% and a positive return on equity of 16.58%. Horizon Global Corporation’s revenue was up 58.3% compared to the same quarter last year. During the same period last year, the business earned $0.30 earnings per share.
Several brokerages have weighed in on HZN. Zacks Investment Research lowered shares of Horizon Global Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. BMO Capital Markets reaffirmed a “buy” rating and set a $20.00 target price on shares of Horizon Global Corporation in a research note on Friday, October 13th. Bank of America Corporation lowered shares of Horizon Global Corporation from a “neutral” rating to an “underperform” rating in a research note on Tuesday, September 5th. Roth Capital set a $22.00 target price on shares of Horizon Global Corporation and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Finally, BidaskClub lowered shares of Horizon Global Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $19.83.
Horizon Global Corporation (NYSE:HZN) opened at $14.30 on Wednesday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 1.62. The firm has a market cap of $358.61, a PE ratio of 21.15, a price-to-earnings-growth ratio of 1.21 and a beta of 1.79. Horizon Global Corporation has a 12 month low of $11.80 and a 12 month high of $26.36.
In other news, CEO A Mark Zeffiro sold 17,130 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $16.45, for a total value of $281,788.50. Following the completion of the transaction, the chief executive officer now owns 238,284 shares of the company’s stock, valued at $3,919,771.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.27% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of HZN. Voya Investment Management LLC purchased a new position in shares of Horizon Global Corporation in the second quarter valued at approximately $159,000. Wilen Investment Management CORP. lifted its stake in Horizon Global Corporation by 3.0% in the second quarter. Wilen Investment Management CORP. now owns 12,440 shares of the company’s stock worth $174,000 after acquiring an additional 360 shares during the last quarter. Sei Investments Co. lifted its stake in Horizon Global Corporation by 58.1% in the second quarter. Sei Investments Co. now owns 12,406 shares of the company’s stock worth $178,000 after acquiring an additional 4,561 shares during the last quarter. American International Group Inc. lifted its stake in Horizon Global Corporation by 25.7% in the first quarter. American International Group Inc. now owns 13,190 shares of the company’s stock worth $183,000 after acquiring an additional 2,700 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in Horizon Global Corporation in the second quarter worth approximately $186,000. 89.56% of the stock is owned by institutional investors and hedge funds.
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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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