Horizon Global Corporation (HZN) Expected to Post Earnings of $0.38 Per Share
Equities analysts expect that Horizon Global Corporation (NYSE:HZN) will report earnings of $0.38 per share for the current quarter, according to Zacks. Four analysts have made estimates for Horizon Global Corporation’s earnings, with the lowest EPS estimate coming in at $0.35 and the highest estimate coming in at $0.40. Horizon Global Corporation posted earnings of $0.30 per share during the same quarter last year, which would suggest a positive year over year growth rate of 26.7%. The business is scheduled to report its next earnings results before the market opens on Tuesday, October 31st.
On average, analysts expect that Horizon Global Corporation will report full year earnings of $1.09 per share for the current year, with EPS estimates ranging from $1.05 to $1.12. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.36 per share, with EPS estimates ranging from $1.20 to $1.49. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Horizon Global Corporation.
Horizon Global Corporation (NYSE:HZN) last released its quarterly earnings data on Tuesday, August 1st. The company reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.17. The business had revenue of $253.60 million during the quarter, compared to analyst estimates of $241.08 million. Horizon Global Corporation had a positive return on equity of 18.86% and a negative net margin of 1.45%. The company’s revenue was up 51.1% compared to the same quarter last year.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Horizon Global Corporation from a “hold” rating to a “strong-buy” rating and set a $21.00 target price for the company in a research note on Thursday, August 3rd. BMO Capital Markets reiterated 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 downgraded 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 downgraded shares of Horizon Global Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Two analysts have rated the stock with a sell rating, two have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $19.83.
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Horizon Global Corporation (NYSE HZN) traded down 1.17% during trading on Monday, hitting $16.90. The company’s stock had a trading volume of 119,797 shares. Horizon Global Corporation has a one year low of $11.80 and a one year high of $26.36. The firm’s market cap is $421.42 million. The company has a 50-day moving average of $17.29 and a 200 day moving average of $17.29.
In related news, CEO A Mark Zeffiro sold 27,000 shares of the stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $16.38, for a total transaction of $442,260.00. Following the completion of the transaction, the chief executive officer now directly owns 238,284 shares of the company’s stock, valued at $3,903,091.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.27% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Voya Investment Management LLC purchased a new position in Horizon Global Corporation during the second quarter worth about $159,000. Sei Investments Co. raised its holdings in Horizon Global Corporation by 58.1% during the second quarter. Sei Investments Co. now owns 12,406 shares of the company’s stock worth $178,000 after purchasing an additional 4,561 shares in the last quarter. Wilen Investment Management CORP. raised its holdings in Horizon Global Corporation by 3.0% during the second quarter. Wilen Investment Management CORP. now owns 12,440 shares of the company’s stock worth $174,000 after purchasing an additional 360 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Horizon Global Corporation during the second quarter worth about $186,000. Finally, American International Group Inc. raised its holdings in Horizon Global Corporation by 25.7% during the first quarter. American International Group Inc. now owns 13,190 shares of the company’s stock worth $183,000 after purchasing an additional 2,700 shares in the last quarter. 94.02% of the stock is owned by hedge funds and other institutional investors.
About Horizon Global Corporation
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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