Zacks: Analysts Expect Harsco Co. (HSC) Will Post Quarterly Sales of $388.2 Million
Equities research analysts predict that Harsco Co. (NYSE:HSC) will report $388.2 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Harsco’s earnings, with the highest sales estimate coming in at $388.9 million and the lowest estimate coming in at $387.5 million. Harsco posted sales of $369.93 million in the same quarter last year, which would indicate a positive year over year growth rate of 4.9%. The company is scheduled to announce its next earnings results on Thursday, August 3rd.
On average, analysts expect that Harsco will report full-year sales of $388.2 million for the current fiscal 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 $1.6 billion to $1.61 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Harsco.
Harsco (NYSE:HSC) last posted its quarterly earnings results on Wednesday, May 3rd. The industrial products company reported $0.11 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.09. The firm had revenue of $372.54 million for the quarter, compared to the consensus estimate of $343.40 million. Harsco had a negative net margin of 5.21% and a positive return on equity of 11.33%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the firm posted $0.03 earnings per share.
Several brokerages have issued reports on HSC. Zacks Investment Research downgraded shares of Harsco from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. Jefferies Group LLC reaffirmed a “buy” rating and issued a $15.00 price objective (up previously from $13.00) on shares of Harsco in a research report on Monday, March 20th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $15.00.
Harsco (NYSE:HSC) opened at 15.05 on Friday. The stock’s market capitalization is $1.21 billion. The stock has a 50 day moving average of $12.78 and a 200 day moving average of $13.00. Harsco has a 1-year low of $5.81 and a 1-year high of $15.75.
Several hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. bought a new stake in Harsco during the fourth quarter worth $5,252,000. Comerica Bank boosted its stake in shares of Harsco by 5.7% in the fourth quarter. Comerica Bank now owns 85,582 shares of the industrial products company’s stock worth $1,138,000 after buying an additional 4,608 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Harsco by 19.0% in the fourth quarter. AQR Capital Management LLC now owns 242,604 shares of the industrial products company’s stock worth $3,299,000 after buying an additional 38,699 shares in the last quarter. HBK Investments L P boosted its stake in shares of Harsco by 55.9% in the third quarter. HBK Investments L P now owns 227,828 shares of the industrial products company’s stock worth $2,262,000 after buying an additional 81,728 shares in the last quarter. Finally, Cortina Asset Management LLC boosted its stake in shares of Harsco by 4.1% in the fourth quarter. Cortina Asset Management LLC now owns 543,498 shares of the industrial products company’s stock worth $7,392,000 after buying an additional 21,622 shares in the last quarter. 82.36% of the stock is owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION NOTICE: “Zacks: Analysts Expect Harsco Co. (HSC) Will Post Quarterly Sales of $388.2 Million” was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this news story on another domain, it was copied illegally and republished in violation of US and international copyright law. The legal version of this news story can be accessed at https://www.thecerbatgem.com/2017/05/20/zacks-analysts-anticipate-harsco-co-hsc-will-announce-quarterly-sales-of-353-73-million-updated-updated.html.
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 & Stock Ratings for Harsco Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harsco Co. and related stocks with our FREE daily email newsletter.