Harsco Corporation’s (HSC) “Buy” Rating Reaffirmed at Lake Street Capital
Harsco Corporation (NYSE:HSC)‘s stock had its “buy” rating reissued by equities researchers at Lake Street Capital in a report issued on Friday. Lake Street Capital also issued estimates for Harsco Corporation’s Q1 2019 earnings at $0.21 EPS and Q2 2019 earnings at $0.27 EPS.
A number of other research analysts also recently commented on HSC. BidaskClub downgraded shares of Harsco Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Zacks Investment Research downgraded shares of Harsco Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, KeyCorp reissued an “overweight” rating and issued a $19.00 price objective (up previously from $17.50) on shares of Harsco Corporation in a research report on Monday, June 26th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $17.00.
Shares of Harsco Corporation (HSC) opened at 16.75 on Friday. The company’s market capitalization is $1.34 billion. The firm’s 50-day moving average is $16.05 and its 200-day moving average is $14.22. Harsco Corporation has a 12-month low of $8.52 and a 12-month high of $17.08.
Harsco Corporation (NYSE:HSC) last announced its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $394.89 million during the quarter, compared to the consensus estimate of $384.40 million. During the same quarter last year, the firm posted $0.15 EPS. The company’s quarterly revenue was up 6.7% on a year-over-year basis. On average, equities research analysts anticipate that Harsco Corporation will post $0.62 EPS for the current fiscal year.
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In related news, SVP Scott H. Gerson sold 6,706 shares of Harsco Corporation stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $15.10, for a total transaction of $101,260.60. Following the completion of the sale, the senior vice president now owns 32,125 shares of the company’s stock, valued at approximately $485,087.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.76% of the company’s stock.
Several hedge funds have recently made changes to their positions in HSC. 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 valued at $123,489,000 after buying an additional 9,659,153 shares during the last quarter. Rothschild Asset Management Inc. bought a new stake in shares of Harsco Corporation during the first quarter valued at approximately $23,733,000. Norges Bank bought a new stake in shares of Harsco Corporation during the fourth quarter valued at approximately $6,546,000. Vanguard Group Inc. increased its stake in shares of Harsco Corporation by 5.7% in the first quarter. Vanguard Group Inc. now owns 7,181,030 shares of the industrial products company’s stock valued at $91,558,000 after buying an additional 384,883 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Harsco Corporation by 56.9% in the first quarter. American Century Companies Inc. now owns 826,249 shares of the industrial products company’s stock valued at $10,535,000 after buying an additional 299,483 shares during the last quarter. 82.55% of the stock is owned by institutional investors and hedge funds.
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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