Harsco Corporation (HSC) Expected to Post Quarterly Sales of $402.80 Million
Equities analysts expect that Harsco Corporation (NYSE:HSC) will announce $402.80 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Harsco Corporation’s earnings, with the highest sales estimate coming in at $410.70 million and the lowest estimate coming in at $389.10 million. Harsco Corporation reported sales of $367.79 million during the same quarter last year, which indicates a positive year over year growth rate of 9.5%. The firm is expected to report its next quarterly earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Harsco Corporation will report full-year sales of $402.80 million for the current fiscal year, with estimates ranging from $1.54 billion to $1.59 billion. For the next fiscal year, analysts expect that the firm will report sales of $1.61 billion per share, with estimates ranging from $1.55 billion to $1.65 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Harsco Corporation.
Harsco Corporation (NYSE:HSC) last posted its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. Harsco Corporation had a positive return on equity of 26.28% and a negative net margin of 1.38%. The company had revenue of $394.89 million during the quarter, compared to analysts’ expectations of $384.40 million. During the same period last year, the firm earned $0.15 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis.
HSC has been the subject of several recent research reports. Zacks Investment Research raised shares of Harsco Corporation from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Tuesday, May 16th. BidaskClub lowered shares of Harsco Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. KeyCorp reissued an “overweight” rating and issued a $19.00 price target (up previously from $17.50) on shares of Harsco Corporation in a research report on Monday, June 26th. Jefferies Group LLC reissued a “buy” rating and issued a $19.00 price target (up previously from $18.00) on shares of Harsco Corporation in a research report on Wednesday, August 9th. Finally, Lake Street Capital reissued a “buy” rating on shares of Harsco Corporation in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Harsco Corporation has a consensus rating of “Buy” and an average price target of $18.50.
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Several hedge funds have recently bought and sold shares of HSC. Norges Bank purchased a new stake in Harsco Corporation during the fourth quarter valued at $6,546,000. Teachers Advisors LLC raised its stake in Harsco Corporation by 45.3% in the fourth quarter. Teachers Advisors LLC now owns 235,570 shares of the industrial products company’s stock valued at $3,204,000 after buying an additional 73,417 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in Harsco Corporation by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 32,700 shares of the industrial products company’s stock valued at $417,000 after buying an additional 500 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Harsco Corporation by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 8,850 shares of the industrial products company’s stock valued at $112,000 after buying an additional 170 shares during the last quarter. Finally, Nationwide Fund Advisors raised its stake in Harsco Corporation by 3.3% in the first quarter. Nationwide Fund Advisors now owns 183,652 shares of the industrial products company’s stock valued at $2,342,000 after buying an additional 5,817 shares during the last quarter. 81.94% of the stock is owned by institutional investors.
Harsco Corporation (NYSE HSC) traded down 0.30% during mid-day trading on Thursday, reaching $16.35. The company’s stock had a trading volume of 76,767 shares. Harsco Corporation has a 52 week low of $8.52 and a 52 week high of $17.80. The firm has a 50-day moving average of $16.12 and a 200-day moving average of $14.53. The stock’s market capitalization is $1.31 billion.
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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