Wall Street brokerages predict that Horizon Global Corp (NYSE:HZN) will report earnings per share (EPS) of $0.19 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Horizon Global’s earnings, with the lowest EPS estimate coming in at $0.11 and the highest estimate coming in at $0.34. Horizon Global reported earnings per share of $0.38 during the same quarter last year, which indicates a negative year over year growth rate of 50%. The business is expected to issue its next earnings results on Tuesday, October 30th.
According to Zacks, analysts expect that Horizon Global will report full year earnings of $0.18 per share for the current financial year, with EPS estimates ranging from $0.00 to $0.37. For the next financial year, analysts expect that the company will report earnings of $0.53 per share, with EPS estimates ranging from $0.36 to $0.70. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Horizon Global.
Horizon Global (NYSE:HZN) last released its quarterly earnings data on Tuesday, August 7th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.15. The business had revenue of $233.34 million during the quarter, compared to analyst estimates of $232.85 million. Horizon Global had a negative net margin of 15.61% and a positive return on equity of 8.57%.
A number of research firms have weighed in on HZN. Roth Capital upgraded shares of Horizon Global from a “neutral” rating to a “buy” rating and raised their price objective for the company from $6.00 to $13.00 in a research note on Wednesday, August 8th. ValuEngine upgraded shares of Horizon Global from a “sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. Zacks Investment Research upgraded shares of Horizon Global from a “sell” rating to a “hold” rating in a research note on Thursday, August 9th. B. Riley reduced their price objective on shares of Horizon Global from $12.50 to $10.50 and set a “buy” rating for the company in a research note on Monday, June 25th. Finally, Bank of America lowered shares of Horizon Global from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $10.00 to $5.00 in a research note on Friday, June 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $12.79.
NYSE:HZN traded up $0.20 on Friday, reaching $6.96. 212,500 shares of the stock traded hands, compared to its average volume of 378,343. The firm has a market cap of $178.93 million, a P/E ratio of 7.10, a P/E/G ratio of 14.89 and a beta of 0.92. The company has a debt-to-equity ratio of 20.60, a quick ratio of 0.80 and a current ratio of 1.59. Horizon Global has a 12 month low of $5.13 and a 12 month high of $17.78.
Several hedge funds and other institutional investors have recently made changes to their positions in HZN. Schwab Charles Investment Management Inc. boosted its holdings in shares of Horizon Global by 20.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 115,995 shares of the company’s stock valued at $956,000 after acquiring an additional 19,827 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Horizon Global by 17.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,402,558 shares of the company’s stock valued at $11,557,000 after acquiring an additional 206,467 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Horizon Global by 4.6% during the 1st quarter. Russell Investments Group Ltd. now owns 320,514 shares of the company’s stock valued at $2,641,000 after acquiring an additional 14,173 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Horizon Global during the 1st quarter valued at about $460,000. Finally, Segall Bryant & Hamill LLC purchased a new stake in shares of Horizon Global during the 1st quarter valued at about $415,000. 73.65% of the stock is currently owned by hedge funds and other institutional investors.
About Horizon Global
Horizon Global Corporation designs, manufactures, and distributes a range of towing, trailering, cargo management, and other related accessory products to the automotive aftermarket, retail, and original equipment channels worldwide. It operates through three segments: Horizon Americas, Horizon Asia-Pacific, and Horizon Europe-Africa.
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