Wall Street brokerages expect Horizon Global Corp (NYSE:HZN) to report sales of $241.29 million for the current quarter, according to Zacks. Two analysts have made estimates for Horizon Global’s earnings, with estimates ranging from $236.28 million to $246.30 million. Horizon Global posted sales of $227.84 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.9%. The firm is scheduled to issue its next quarterly earnings report on Thursday, November 14th.
According to Zacks, analysts expect that Horizon Global will report full year sales of $857.13 million for the current year, with estimates ranging from $844.36 million to $869.90 million. For the next year, analysts forecast that the firm will report sales of $887.40 million, with estimates ranging from $886.90 million to $887.89 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Horizon Global.
Horizon Global (NYSE:HZN) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.07). Horizon Global had a negative net margin of 13.54% and a negative return on equity of 731.99%. The firm had revenue of $223.16 million during the quarter, compared to analysts’ expectations of $241.23 million.
HZN has been the topic of a number of analyst reports. Roth Capital reiterated a “neutral” rating on shares of Horizon Global in a report on Friday, May 24th. ValuEngine upgraded Horizon Global from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research upgraded Horizon Global from a “sell” rating to a “hold” rating in a report on Wednesday.
Several hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in Horizon Global by 13.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,487,928 shares of the company’s stock valued at $12,522,000 after acquiring an additional 404,930 shares during the last quarter. Royce & Associates LP boosted its holdings in Horizon Global by 57.1% in the first 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 last quarter. Vanguard Group Inc. boosted its holdings in Horizon Global by 2.4% in the second quarter. Vanguard Group Inc. now owns 848,039 shares of the company’s stock valued at $3,044,000 after acquiring an additional 19,689 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in Horizon Global by 12.9% in the second quarter. D. E. Shaw & Co. Inc. now owns 446,807 shares of the company’s stock valued at $1,604,000 after acquiring an additional 51,118 shares during the last quarter. Finally, California Public Employees Retirement System boosted its holdings in Horizon Global by 12.7% in the fourth quarter. California Public Employees Retirement System now owns 146,881 shares of the company’s stock valued at $210,000 after acquiring an additional 16,521 shares during the last quarter. Institutional investors and hedge funds own 40.26% of the company’s stock.
NYSE HZN traded up $0.01 during mid-day trading on Friday, hitting $2.93. The stock had a trading volume of 79,600 shares, compared to its average volume of 216,417. Horizon Global has a 52-week low of $1.34 and a 52-week high of $8.50. The firm has a market cap of $74.95 million, a P/E ratio of -2.12 and a beta of 1.25. The stock has a 50 day moving average price of $4.08.
Horizon Global Company Profile
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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