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.
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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.
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