Horizon Global (HZN) Announces Earnings Results

Share on StockTwits

Horizon Global (NYSE:HZN) posted its quarterly earnings data on Thursday. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.20), Fidelity Earnings reports. The business had revenue of $227.80 million during the quarter, compared to the consensus estimate of $239.28 million. Horizon Global had a negative net margin of 15.61% and a positive return on equity of 8.57%. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 EPS.

Shares of Horizon Global stock remained flat at $$2.56 on Friday. 1,907,153 shares of the stock were exchanged, compared to its average volume of 180,466. Horizon Global has a 12 month low of $2.51 and a 12 month high of $14.80. The company has a debt-to-equity ratio of 20.60, a quick ratio of 0.80 and a current ratio of 1.59. The company has a market cap of $141.54 million, a P/E ratio of 2.61, a PEG ratio of 11.78 and a beta of 1.20.

A number of analysts have issued reports on the stock. Roth Capital raised shares of Horizon Global from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $6.00 to $13.00 in a report on Wednesday, August 8th. Zacks Investment Research downgraded shares of Horizon Global from a “hold” rating to a “strong sell” rating in a report on Saturday. ValuEngine downgraded shares of Horizon Global from a “hold” rating to a “sell” rating in a report on Thursday. Finally, B. Riley downgraded shares of Horizon Global from a “buy” rating to a “neutral” rating and cut their price objective for the company from $10.50 to $3.00 in a report on Friday. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $11.71.

Institutional investors have recently modified their holdings of the company. LMR Partners LLP bought a new stake in shares of Horizon Global during the 2nd quarter worth approximately $447,000. Segall Bryant & Hamill LLC lifted its holdings in shares of Horizon Global by 64.5% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 82,851 shares of the company’s stock worth $494,000 after acquiring an additional 32,487 shares during the period. Paloma Partners Management Co bought a new stake in shares of Horizon Global during the 2nd quarter worth approximately $684,000. Skylands Capital LLC bought a new stake in shares of Horizon Global during the 3rd quarter worth approximately $927,000. Finally, Bank of America Corp DE lifted its holdings in shares of Horizon Global by 14.8% during the 2nd quarter. Bank of America Corp DE now owns 130,334 shares of the company’s stock worth $777,000 after acquiring an additional 16,836 shares during the period. 73.87% of the stock is owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally posted by Macon Daily and is the sole property of of Macon Daily. If you are reading this piece of content on another site, it was illegally stolen and reposted in violation of US & international copyright & trademark legislation. The original version of this piece of content can be viewed at https://macondaily.com/2018/11/10/horizon-global-hzn-announces-earnings-results.html.

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.

Featured Story: What is Compound Annual Growth Rate (CAGR)?

Earnings History for Horizon Global (NYSE:HZN)

Receive News & Ratings for Horizon Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Horizon Global and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply