$402.80 Million in Sales Expected for Harsco Corporation (HSC) This Quarter
Wall Street brokerages expect Harsco Corporation (NYSE:HSC) to announce sales of $402.80 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided 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 would suggest a positive year-over-year growth rate of 9.5%. The firm is expected to report its next 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 forecast that the firm will report sales of $1.61 billion per share, with estimates ranging from $1.55 billion to $1.65 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Harsco Corporation.
Harsco Corporation (NYSE:HSC) last posted its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 analyst estimates of $384.40 million. During the same period in the previous year, the business earned $0.15 EPS. Harsco Corporation’s quarterly revenue was up 6.7% on a year-over-year basis.
A number of equities research analysts have recently issued reports on HSC shares. KeyCorp reiterated an “overweight” rating and set a $19.00 price target (up from $17.50) on shares of Harsco Corporation in a research report on Monday, June 26th. Zacks Investment Research downgraded shares of Harsco Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. BidaskClub upgraded shares of Harsco Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 13th. Finally, Lake Street Capital reiterated a “buy” rating on shares of Harsco Corporation in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Harsco Corporation presently has an average rating of “Buy” and a consensus price target of $17.50.
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In other news, SVP Scott H. Gerson sold 6,706 shares of the firm’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 32,125 shares of the company’s stock, valued at approximately $485,087.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.76% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of HSC. Principal Financial Group Inc. boosted its position in shares of Harsco Corporation by 2.8% in the second quarter. Principal Financial Group Inc. now owns 626,598 shares of the industrial products company’s stock worth $10,088,000 after buying an additional 17,152 shares during the period. Greenwood Capital Associates LLC purchased a new stake in Harsco Corporation during the second quarter valued at approximately $186,000. 1060 Capital LLC purchased a new stake in Harsco Corporation during the second quarter valued at approximately $14,658,000. Virginia Retirement Systems ET AL purchased a new stake in Harsco Corporation during the second quarter valued at approximately $222,000. Finally, Federated Investors Inc. PA boosted its stake in Harsco Corporation by 1.7% in the second quarter. Federated Investors Inc. PA now owns 7,678 shares of the industrial products company’s stock valued at $124,000 after buying an additional 132 shares during the last quarter. 82.90% of the stock is owned by institutional investors and hedge funds.
Harsco Corporation (NYSE:HSC) traded up 4.85% during midday trading on Friday, reaching $17.30. The company’s stock had a trading volume of 1,236,419 shares. The company’s 50-day moving average is $16.00 and its 200 day moving average is $14.27. The firm’s market capitalization is $1.39 billion. Harsco Corporation has a 52 week low of $8.52 and a 52 week high of $17.80.
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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