Zacks: Analysts Anticipate Horizon Global Corp (HZN) to Post $0.38 EPS
Wall Street analysts predict that Horizon Global Corp (NYSE:HZN) will post $0.38 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Horizon Global Corp’s earnings, with estimates ranging from $0.35 to $0.40. Horizon Global Corp posted earnings per share of $0.30 during the same quarter last year, which indicates a positive year over year growth rate of 26.7%. The business is expected to report its next earnings results on Tuesday, November 7th.
On average, analysts expect that Horizon Global Corp will report full year earnings of $1.09 per share for the current financial year, with EPS estimates ranging from $1.05 to $1.12. For the next financial year, analysts expect that the company will report earnings of $1.36 per share, with EPS estimates ranging from $1.20 to $1.49. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Horizon Global Corp.
Horizon Global Corp (NYSE:HZN) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.17. Horizon Global Corp had a net margin of 7.87% and a return on equity of 57.11%. The company had revenue of $253.60 million during the quarter, compared to analyst estimates of $241.08 million. The business’s revenue was up 51.1% on a year-over-year basis.
A number of research analysts have recently issued reports on HZN shares. Bank of America Corporation downgraded Horizon Global Corp from a “neutral” rating to an “underperform” rating in a report on Tuesday, September 5th. Zacks Investment Research raised Horizon Global Corp from a “hold” rating to a “strong-buy” rating and set a $21.00 price objective on the stock in a research report on Thursday, August 3rd. Roth Capital set a $22.00 price objective on Horizon Global Corp and gave the stock a “buy” rating in a report on Wednesday, August 2nd. BMO Capital Markets lifted their price objective on Horizon Global Corp from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. Finally, BidaskClub lowered Horizon Global Corp from a “hold” rating to a “sell” rating in a research report 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 given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $19.83.
In other news, CEO A Mark Zeffiro sold 27,000 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $16.38, for a total transaction of $442,260.00. Following the transaction, the chief executive officer now directly owns 238,284 shares of the company’s stock, valued at approximately $3,903,091.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.27% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC purchased a new stake in shares of Horizon Global Corp during the 2nd quarter valued at about $159,000. Suntrust Banks Inc. bought a new stake in Horizon Global Corp during the first quarter valued at approximately $167,000. Wilen Investment Management CORP. grew its position in Horizon Global Corp by 3.0% during the second quarter. Wilen Investment Management CORP. now owns 12,440 shares of the company’s stock valued at $174,000 after buying an additional 360 shares during the period. Sei Investments Co. grew its position in Horizon Global Corp by 58.1% during the second quarter. Sei Investments Co. now owns 12,406 shares of the company’s stock valued at $178,000 after buying an additional 4,561 shares during the period. Finally, American International Group Inc. grew its position in Horizon Global Corp by 25.7% during the first quarter. American International Group Inc. now owns 13,190 shares of the company’s stock valued at $183,000 after buying an additional 2,700 shares during the period. Institutional investors and hedge funds own 94.02% of the company’s stock.
Horizon Global Corp (HZN) traded up 1.98% during mid-day trading on Wednesday, reaching $17.99. 95,056 shares of the company were exchanged. The stock has a 50-day moving average price of $16.93 and a 200 day moving average price of $16.93. Horizon Global Corp has a one year low of $15.67 and a one year high of $26.36. The company’s market capitalization is $448.60 million.
About Horizon Global Corp
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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