$0.38 EPS Expected for Horizon Global Corporation (HZN) This Quarter
Wall Street brokerages predict that Horizon Global Corporation (NYSE:HZN) will report earnings per share (EPS) of $0.38 for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Horizon Global Corporation’s earnings, with estimates ranging from $0.35 to $0.40. Horizon Global Corporation posted earnings per share of $0.30 during the same quarter last year, which would suggest a positive year-over-year growth rate of 26.7%. The company is scheduled to issue its next earnings results on Tuesday, November 7th.
According to Zacks, 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 year, analysts expect that the company will post earnings of $1.36 per share, with EPS estimates ranging from $1.20 to $1.49. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Horizon Global Corporation.
Horizon Global Corporation (NYSE:HZN) last announced its earnings results on Tuesday, August 1st. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.17. Horizon Global Corporation had a negative net margin of 1.45% and a positive return on equity of 18.86%. The business had revenue of $253.60 million during the quarter, compared to analyst estimates of $241.08 million. The firm’s quarterly revenue was up 51.1% on a year-over-year basis.
Several brokerages have recently issued reports on HZN. Bank of America Corporation lowered shares of Horizon Global Corporation from a “neutral” rating to an “underperform” rating in a research report on Tuesday, September 5th. Zacks Investment Research lowered shares of Horizon Global Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. BMO Capital Markets reaffirmed a “buy” rating and set a $18.00 target price on shares of Horizon Global Corporation in a research note on Thursday, July 13th. 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 equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Horizon Global Corporation currently has an average rating of “Hold” and an average target price of $19.83.
Shares of Horizon Global Corporation (NYSE HZN) traded down 0.53% during midday trading on Monday, hitting $17.04. 125,664 shares of the stock were exchanged. The firm’s 50-day moving average is $17.32 and its 200-day moving average is $17.32. The stock’s market cap is $424.91 million. Horizon Global Corporation has a 12 month low of $11.80 and a 12 month high of $26.36.
In related news, CEO A Mark Zeffiro sold 17,130 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $16.45, for a total value of $281,788.50. Following the sale, the chief executive officer now directly owns 238,284 shares of the company’s stock, valued at approximately $3,919,771.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.27% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the business. Wilen Investment Management CORP. boosted its stake in shares of Horizon Global Corporation by 3.0% during the 2nd quarter. Wilen Investment Management CORP. now owns 12,440 shares of the company’s stock worth $174,000 after purchasing an additional 360 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Horizon Global Corporation by 0.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 76,822 shares of the company’s stock valued at $1,104,000 after buying an additional 418 shares during the period. PNC Financial Services Group Inc. raised its holdings in Horizon Global Corporation by 0.8% in the second quarter. PNC Financial Services Group Inc. now owns 78,513 shares of the company’s stock valued at $1,127,000 after buying an additional 621 shares during the period. Neuberger Berman Group LLC raised its holdings in Horizon Global Corporation by 1.3% in the second quarter. Neuberger Berman Group LLC now owns 59,308 shares of the company’s stock valued at $852,000 after buying an additional 776 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its holdings in Horizon Global Corporation by 5.0% in the second quarter. Oppenheimer Asset Management Inc. now owns 20,341 shares of the company’s stock valued at $292,000 after buying an additional 973 shares during the period. 94.02% of the stock is currently owned by institutional investors.
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Horizon Global Corporation Company Profile
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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