Horizon Global (HZN) Expected to Announce Earnings of $0.58 Per Share

Wall Street analysts forecast that Horizon Global (NYSE:HZN) will announce earnings per share of $0.58 for the current quarter, Zacks reports. Five analysts have made estimates for Horizon Global’s earnings, with the highest EPS estimate coming in at $0.84 and the lowest estimate coming in at $0.45. Horizon Global reported earnings of $0.84 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 31%. The firm is scheduled to issue its next earnings results on Tuesday, August 7th.

On average, analysts expect that Horizon Global will report full-year earnings of $0.80 per share for the current financial year, with EPS estimates ranging from $0.65 to $1.00. For the next fiscal year, analysts forecast that the firm will report earnings of $1.13 per share, with EPS estimates ranging from $1.07 to $1.19. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Horizon Global.

Horizon Global (NYSE:HZN) last announced its quarterly earnings data on Thursday, May 3rd. The company reported ($0.32) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.17). The company had revenue of $216.80 million for the quarter, compared to analyst estimates of $212.66 million. Horizon Global had a negative net margin of 5.65% and a positive return on equity of 15.81%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.17) EPS.

Several research analysts recently issued reports on HZN shares. B. Riley started coverage on shares of Horizon Global in a research report on Friday, April 13th. They issued a “buy” rating and a $12.50 price target for the company. Roth Capital reissued a “buy” rating and issued a $14.00 price target (down previously from $24.00) on shares of Horizon Global in a research report on Friday, January 26th. Bank of America raised shares of Horizon Global from an “underperform” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Wednesday, February 7th. ValuEngine lowered shares of Horizon Global from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, TheStreet lowered shares of Horizon Global from a “c-” rating to a “d” rating in a research report on Monday, February 26th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $15.93.

Shares of Horizon Global traded down $0.35, reaching $5.32, during trading hours on Thursday, according to Marketbeat.com. 49,153 shares of the company traded hands, compared to its average volume of 377,401. Horizon Global has a 1-year low of $5.15 and a 1-year high of $5.63. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.71 and a current ratio of 1.53. The firm has a market capitalization of $142.32 million, a P/E ratio of 5.42, a P/E/G ratio of 1.01 and a beta of 0.75.

Large investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. grew its stake in Horizon Global by 7.8% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 96,168 shares of the company’s stock worth $1,349,000 after buying an additional 6,999 shares during the last quarter. MetLife Investment Advisors LLC bought a new stake in Horizon Global during the fourth quarter worth about $135,000. Wilen Investment Management CORP. grew its stake in Horizon Global by 202.1% during the first quarter. Wilen Investment Management CORP. now owns 37,461 shares of the company’s stock worth $300,000 after buying an additional 25,061 shares during the last quarter. BlackRock Inc. grew its stake in Horizon Global by 1.7% during the fourth quarter. BlackRock Inc. now owns 1,546,801 shares of the company’s stock worth $21,686,000 after buying an additional 25,400 shares during the last quarter. Finally, GW&K Investment Management LLC grew its stake in Horizon Global by 4.0% during the fourth quarter. GW&K Investment Management LLC now owns 704,071 shares of the company’s stock worth $9,871,000 after buying an additional 27,026 shares during the last quarter. 85.56% of the stock is owned by hedge funds and other institutional investors.

About Horizon Global

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.

Get a free copy of the Zacks research report on Horizon Global (HZN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates 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