$261.84 Million in Sales Expected for Horizon Global Corp (HZN) This Quarter

Analysts expect Horizon Global Corp (NYSE:HZN) to announce sales of $261.84 million for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Horizon Global’s earnings. The lowest sales estimate is $253.90 million and the highest is $268.00 million. Horizon Global reported sales of $253.59 million during the same quarter last year, which indicates a positive year over year growth rate of 3.3%. The company is scheduled to report its next earnings report on Tuesday, August 7th.

According to Zacks, analysts expect that Horizon Global will report full-year sales of $964.92 million for the current fiscal year, with estimates ranging from $921.20 million to $1.01 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.03 billion per share, with estimates ranging from $943.20 million to $1.11 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Horizon Global.

Horizon Global (NYSE:HZN) last announced its quarterly earnings data on Thursday, May 3rd. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.17). The business had revenue of $216.80 million during 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 revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.17) earnings per share.

HZN has been the topic of a number of recent analyst reports. TheStreet downgraded Horizon Global from a “c-” rating to a “d” rating in a research note on Monday, February 26th. Zacks Investment Research raised Horizon Global from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 29th. ValuEngine downgraded Horizon Global from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. B. Riley started coverage on Horizon Global in a research note on Friday, April 13th. They issued a “buy” rating and a $12.50 price objective on the stock. Finally, Roth Capital downgraded Horizon Global from a “buy” rating to a “hold” rating and dropped their price target for the stock from $11.00 to $7.00 in a research note on Friday, May 4th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $15.93.

A number of hedge funds have recently bought and sold shares of HZN. Millennium Management LLC raised its stake in Horizon Global by 276.8% during the 4th quarter. Millennium Management LLC now owns 817,279 shares of the company’s stock worth $11,458,000 after buying an additional 600,388 shares during the period. Kennedy Capital Management Inc. raised its stake in Horizon Global by 364.7% during the 4th quarter. Kennedy Capital Management Inc. now owns 292,278 shares of the company’s stock worth $4,098,000 after buying an additional 229,388 shares during the period. Royal Bank of Canada raised its stake in Horizon Global by 17.9% during the 1st quarter. Royal Bank of Canada now owns 1,363,966 shares of the company’s stock worth $11,239,000 after buying an additional 206,932 shares during the period. Dimensional Fund Advisors LP raised its stake in Horizon Global by 17.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,402,558 shares of the company’s stock worth $11,557,000 after buying an additional 206,467 shares during the period. Finally, Spitfire Capital LLC raised its stake in Horizon Global by 17.4% during the 1st quarter. Spitfire Capital LLC now owns 1,288,888 shares of the company’s stock worth $10,620,000 after buying an additional 190,569 shares during the period. 81.16% of the stock is currently owned by institutional investors and hedge funds.

Shares of Horizon Global opened at $6.97 on Friday, MarketBeat Ratings reports. The stock has a market capitalization of $170.34 million, a PE ratio of 7.11, a price-to-earnings-growth ratio of 1.36 and a beta of 0.69. The company has a debt-to-equity ratio of 3.39, a quick ratio of 0.71 and a current ratio of 1.53. Horizon Global has a 1 year low of $5.13 and a 1 year high of $19.26.

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