Brokerages expect Horizon Global Corp (NYSE:HZN) to post $241.23 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Horizon Global’s earnings. The highest sales estimate is $252.36 million and the lowest is $230.10 million. Horizon Global reported sales of $233.34 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.4%. The business is scheduled to issue its next quarterly earnings report on Tuesday, August 6th.
According to Zacks, analysts expect that Horizon Global will report full-year sales of $881.49 million for the current financial year, with estimates ranging from $869.90 million to $893.07 million. For the next fiscal year, analysts expect that the business will post sales of $909.88 million, with estimates ranging from $886.90 million to $932.86 million. Zacks’ sales calculations are an average based on a survey of research analysts that cover Horizon Global.
Horizon Global (NYSE:HZN) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.16). The company had revenue of $209.66 million during the quarter, compared to analysts’ expectations of $199.75 million. Horizon Global had a negative net margin of 20.35% and a negative return on equity of 731.99%.
Several brokerages recently weighed in on HZN. ValuEngine raised shares of Zumiez from a “sell” rating to a “hold” rating in a research note on Monday. Roth Capital reiterated a “buy” rating on shares of Spartan Motors in a report on Friday, May 24th.
In related news, Director Frederick A. Henderson acquired 15,000 shares of the stock in a transaction dated Monday, May 13th. The shares were bought at an average cost of $3.01 per share, for a total transaction of $45,150.00. Following the purchase, the director now owns 10,000 shares in the company, valued at approximately $30,100. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Frederick A. Henderson acquired 10,000 shares of the stock in a transaction dated Friday, May 10th. The stock was bought at an average price of $2.90 per share, for a total transaction of $29,000.00. Following the completion of the purchase, the director now owns 10,000 shares in the company, valued at approximately $29,000. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 35,000 shares of company stock worth $110,150. 10.23% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Royce & Associates LP lifted its position in Horizon Global by 57.1% during the 1st quarter. Royce & Associates LP now owns 1,689,690 shares of the company’s stock valued at $3,278,000 after acquiring an additional 614,364 shares during the period. GSA Capital Partners LLP acquired a new position in Horizon Global during the 4th quarter valued at approximately $104,000. Finally, California Public Employees Retirement System boosted its position in Horizon Global by 12.7% during the 4th quarter. California Public Employees Retirement System now owns 146,881 shares of the company’s stock valued at $210,000 after purchasing an additional 16,521 shares during the period. Hedge funds and other institutional investors own 41.87% of the company’s stock.
Shares of HZN traded up $0.15 during trading hours on Thursday, hitting $4.65. The company’s stock had a trading volume of 201,700 shares, compared to its average volume of 218,748. The company has a market cap of $99.54 million, a P/E ratio of -3.37 and a beta of 1.21. The company has a 50 day moving average price of $3.82. Horizon Global has a 52-week low of $1.34 and a 52-week high of $8.50.
About Horizon Global
Horizon Global Corporation designs, manufactures, and distributes a range of towing, trailering, cargo management, and other related accessory products worldwide. It operates in three segments: Horizon Americas, Horizon Asia-Pacific, and Horizon Europe-Africa. The company provides towing products, such as hitches, fifth wheels, gooseneck hitches, weight distribution systems, wiring harnesses, draw bars, ball mounts, crossbars, tow bars, security products, and other towing accessories for attaching a trailer, camper, etc.
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