Brokerages Expect Horizon Global Corp (HZN) to Post $0.12 Earnings Per Share

Brokerages expect Horizon Global Corp (NYSE:HZN) to post $0.12 earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Horizon Global’s earnings, with the lowest EPS estimate coming in at $0.11 and the highest estimate coming in at $0.13. Horizon Global reported earnings per share of $0.38 in the same quarter last year, which would suggest a negative year-over-year growth rate of 68.4%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, October 30th.

According to Zacks, analysts expect that Horizon Global will report full year earnings of $0.08 per share for the current year, with EPS estimates ranging from $0.00 to $0.16. For the next year, analysts anticipate that the business will post earnings of $0.53 per share, with EPS estimates ranging from $0.36 to $0.70. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Horizon Global.

Horizon Global (NYSE:HZN) last released its earnings results on Tuesday, August 7th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.15. Horizon Global had a positive return on equity of 8.57% and a negative net margin of 15.61%. The company had revenue of $233.34 million for the quarter, compared to the consensus estimate of $232.85 million.

HZN has been the topic of a number of research reports. B. Riley dropped their price target on Horizon Global from $12.50 to $10.50 and set a “buy” rating on the stock in a research report on Monday, June 25th. Roth Capital increased their price target on Horizon Global from $6.50 to $7.50 and gave the stock a “neutral” rating in a research report on Friday, June 22nd. ValuEngine upgraded Horizon Global from a “sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. Zacks Investment Research upgraded Horizon Global from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Bank of America cut Horizon Global from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $10.00 to $5.00 in a research report on Friday, June 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Horizon Global currently has a consensus rating of “Hold” and a consensus target price of $13.58.

Several institutional investors have recently made changes to their positions in the company. Royal Bank of Canada increased its position in Horizon Global by 17.9% in the 1st quarter. Royal Bank of Canada now owns 1,363,966 shares of the company’s stock valued at $11,239,000 after acquiring an additional 206,932 shares during the period. Renaissance Technologies LLC acquired a new stake in Horizon Global in the 4th quarter valued at approximately $2,483,000. Marcato Capital Management LP increased its position in Horizon Global by 6.8% in the 1st quarter. Marcato Capital Management LP now owns 838,000 shares of the company’s stock valued at $6,905,000 after acquiring an additional 53,600 shares during the period. GW&K Investment Management LLC increased its position in Horizon Global by 9.0% in the 1st quarter. GW&K Investment Management LLC now owns 767,199 shares of the company’s stock valued at $6,322,000 after acquiring an additional 63,128 shares during the period. Finally, Spitfire Capital LLC increased its position in Horizon Global by 17.4% in the 1st quarter. Spitfire Capital LLC now owns 1,288,888 shares of the company’s stock valued at $10,620,000 after acquiring an additional 190,569 shares during the period. Institutional investors and hedge funds own 80.57% of the company’s stock.

Horizon Global traded down $0.25, reaching $7.64, during trading hours on Friday, Marketbeat.com reports. 431,173 shares of the stock were exchanged, compared to its average volume of 393,644. The company has a quick ratio of 0.71, a current ratio of 1.59 and a debt-to-equity ratio of 20.60. Horizon Global has a 52 week low of $5.13 and a 52 week high of $18.24. The company has a market cap of $198.01 million, a PE ratio of 7.80, a P/E/G ratio of 36.39 and a beta of 0.84.

Horizon Global Company Profile

Horizon Global Corporation designs, manufactures, and distributes a range of towing, trailering, cargo management, and other related accessory products to the automotive aftermarket, retail, and original equipment channels worldwide. It operates through three segments: Horizon Americas, Horizon Asia-Pacific, and Horizon Europe-Africa.

See Also: Leveraged Buyout (LBO)

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Earnings History and Estimates for Horizon Global (NYSE:HZN)

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