Harsco Corporation (NYSE:HSC) Expected to Post Earnings of $0.16 Per Share
Wall Street analysts expect that Harsco Corporation (NYSE:HSC) will announce earnings of $0.16 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Harsco Corporation’s earnings, with the highest EPS estimate coming in at $0.17 and the lowest estimate coming in at $0.14. Harsco Corporation reported earnings of $0.14 per share during the same quarter last year, which indicates a positive year over year growth rate of 14.3%. The business is scheduled to announce its next earnings results on Thursday, November 2nd.
On average, analysts expect that Harsco Corporation will report full-year earnings of $0.63 per share for the current financial year, with EPS estimates ranging from $0.60 to $0.65. For the next financial year, analysts forecast that the company will report earnings of $0.74 per share, with EPS estimates ranging from $0.68 to $0.83. Zacks’ EPS averages are an average based on a survey of analysts that cover Harsco Corporation.
Harsco Corporation (NYSE:HSC) last released its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $384.40 million. During the same period in the previous year, the company earned $0.15 earnings per share. The company’s quarterly revenue was up 6.7% on a year-over-year basis.
Several equities research analysts recently weighed in on the company. BidaskClub raised Harsco Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 13th. Lake Street Capital reissued a “buy” rating on shares of Harsco Corporation in a report on Friday. Zacks Investment Research lowered Harsco Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $19.00 target price (up previously from $17.50) on shares of Harsco Corporation in a report on Monday, June 26th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Harsco Corporation currently has a consensus rating of “Buy” and an average target price of $17.50.
In other Harsco Corporation news, SVP Scott H. Gerson sold 6,706 shares of Harsco Corporation stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $15.10, for a total transaction of $101,260.60. Following the completion of the transaction, the senior vice president now owns 32,125 shares of the company’s stock, valued at approximately $485,087.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.76% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in shares of Harsco Corporation by 36,936.1% in the first quarter. BlackRock Inc. now owns 9,685,304 shares of the industrial products company’s stock worth $123,489,000 after buying an additional 9,659,153 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Harsco Corporation during the second quarter worth about $167,000. Public Employees Retirement System of Ohio increased its stake in shares of Harsco Corporation by 1.8% in the first quarter. Public Employees Retirement System of Ohio now owns 201,695 shares of the industrial products company’s stock worth $2,572,000 after buying an additional 3,599 shares during the period. UBS Asset Management Americas Inc. increased its stake in shares of Harsco Corporation by 12.8% in the first quarter. UBS Asset Management Americas Inc. now owns 42,286 shares of the industrial products company’s stock worth $539,000 after buying an additional 4,806 shares during the period. Finally, Martingale Asset Management L P acquired a new stake in shares of Harsco Corporation during the first quarter worth about $1,460,000. 82.90% of the stock is owned by institutional investors and hedge funds.
Shares of Harsco Corporation (HSC) traded up 4.85% during midday trading on Thursday, hitting $17.30. 1,236,419 shares of the stock were exchanged. Harsco Corporation has a 1-year low of $8.52 and a 1-year high of $17.80. The firm’s market capitalization is $1.39 billion. The stock’s 50-day moving average price is $16.00 and its 200-day moving average price is $14.27.
About Harsco Corporation
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.
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