Zacks: Brokerages Expect Harsco Corporation (HSC) Will Post Earnings of $0.16 Per Share
Equities research analysts expect that Harsco Corporation (NYSE:HSC) will report earnings per share of $0.16 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Harsco Corporation’s earnings. The highest EPS estimate is $0.17 and the lowest is $0.14. Harsco Corporation reported earnings of $0.14 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 14.3%. The business is scheduled to report its next quarterly earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Harsco Corporation will report full year earnings of $0.63 per share for the current year, with EPS estimates ranging from $0.60 to $0.65. For the next financial year, analysts forecast that the company will report earnings of $0.74 per share, with EPS estimates ranging from $0.68 to $0.83. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Harsco Corporation.
Harsco Corporation (NYSE:HSC) last issued its earnings results on Thursday, August 3rd. The industrial products company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.05. The company had revenue of $394.89 million for the quarter, compared to analysts’ expectations of $384.40 million. Harsco Corporation had a negative net margin of 1.38% and a positive return on equity of 26.28%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 EPS.
A number of research firms recently issued reports on HSC. Argus raised shares of Harsco Corporation from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Friday, September 15th. Jefferies Group LLC reaffirmed a “buy” rating and set a $19.00 price target (up previously from $18.00) on shares of Harsco Corporation in a research note on Wednesday, August 9th. BidaskClub raised shares of Harsco Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 13th. Lake Street Capital reaffirmed a “buy” rating on shares of Harsco Corporation in a research note on Friday, August 4th. Finally, Zacks Investment Research downgraded shares of Harsco Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $19.50.
Shares of Harsco Corporation (NYSE HSC) traded up 0.72% during trading on Thursday, reaching $20.90. 534,826 shares of the company were exchanged. Harsco Corporation has a 1-year low of $9.05 and a 1-year high of $21.10. The company’s market capitalization is $1.68 billion. The stock’s 50 day moving average is $16.91 and its 200 day moving average is $15.00.
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Several institutional investors and hedge funds have recently made changes to their positions in HSC. BlackRock Inc. raised 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 acquiring an additional 9,659,153 shares during the period. Rothschild Asset Management Inc. purchased a new stake in shares of Harsco Corporation in the first quarter valued at $23,733,000. Hood River Capital Management LLC purchased a new stake in shares of Harsco Corporation in the second quarter valued at $20,263,000. 1060 Capital LLC purchased a new stake in shares of Harsco Corporation in the second quarter valued at $14,658,000. Finally, Vanguard Group Inc. raised its stake in shares of Harsco Corporation by 9.1% in the second quarter. Vanguard Group Inc. now owns 7,831,203 shares of the industrial products company’s stock valued at $126,082,000 after acquiring an additional 650,173 shares during the period. 80.67% of the stock is currently 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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