Horizon Global Corp (NYSE:HZN) Expected to Post Earnings of $0.10 Per Share
Equities research analysts expect Horizon Global Corp (NYSE:HZN) to post $0.10 earnings per share for the current quarter, Zacks reports. Two analysts have made estimates for Horizon Global’s earnings, with estimates ranging from $0.07 to $0.12. Horizon Global posted earnings per share of ($0.01) in the same quarter last year, which would indicate a positive year over year growth rate of 1,100%. The business is scheduled to issue its next quarterly earnings report on Thursday, November 14th.
On average, analysts expect that Horizon Global will report full year earnings of ($1.40) per share for the current year, with EPS estimates ranging from ($1.50) to ($1.30). For the next financial year, analysts forecast that the company will post earnings of ($0.53) per share, with EPS estimates ranging from ($0.70) to ($0.35). Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Horizon Global.
Horizon Global (NYSE:HZN) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.07). The business had revenue of $223.16 million during the quarter, compared to analyst estimates of $241.23 million.
In related news, Director Frederick A. Henderson purchased 15,000 shares of Horizon Global stock in a transaction dated Tuesday, August 20th. The stock was purchased at an average cost of $3.81 per share, for a total transaction of $57,150.00. Following the completion of the acquisition, the director now directly owns 84,199 shares of the company’s stock, valued at $320,798.19. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John C. Kennedy purchased 61,599 shares of Horizon Global stock in a transaction dated Thursday, August 22nd. The shares were bought at an average price of $3.90 per share, with a total value of $240,236.10. Following the completion of the acquisition, the director now directly owns 799,490 shares of the company’s stock, valued at $3,118,011. The disclosure for this purchase can be found here. Insiders have acquired 85,543 shares of company stock valued at $333,073 in the last three months. Insiders own 1.90% of the company’s stock.
Large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Horizon Global by 13.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,487,928 shares of the company’s stock valued at $12,522,000 after acquiring an additional 404,930 shares in the last quarter. D. E. Shaw & Co. Inc. increased its holdings in shares of Horizon Global by 12.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 446,807 shares of the company’s stock valued at $1,604,000 after acquiring an additional 51,118 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Horizon Global by 2.4% during the second quarter. Vanguard Group Inc. now owns 848,039 shares of the company’s stock valued at $3,044,000 after acquiring an additional 19,689 shares in the last quarter. Hedge funds and other institutional investors own 40.63% of the company’s stock.
Horizon Global stock traded up $0.03 on Tuesday, hitting $4.02. 35,876 shares of the stock traded hands, compared to its average volume of 96,261. The firm has a market cap of $101.03 million, a P/E ratio of -2.91 and a beta of 1.33. The business’s fifty day simple moving average is $4.01 and its 200 day simple moving average is $3.69. Horizon Global has a 1 year low of $1.34 and a 1 year high of $7.05.
About Horizon Global
Horizon Global Corporation designs, manufactures, and distributes a range of towing, trailering, cargo management, and other related accessory products worldwide. It operates in three segments: Horizon Americas, Horizon Asia-Pacific, and Horizon Europe-Africa. The company provides towing products, such as hitches, fifth wheels, gooseneck hitches, weight distribution systems, wiring harnesses, draw bars, ball mounts, crossbars, tow bars, security products, and other towing accessories for attaching a trailer, camper, etc.
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