Harsco Co. (NYSE:HSC) rose 13% during trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $28.71 and last traded at $27.47. Approximately 1,049,194 shares were traded during trading, an increase of 120% from the average daily volume of 477,528 shares. The stock had previously closed at $24.31.
The industrial products company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. Harsco had a return on equity of 34.29% and a net margin of 2.27%. The company had revenue of $445.48 million for the quarter, compared to the consensus estimate of $447.17 million. During the same quarter in the prior year, the business posted $0.20 earnings per share. Harsco’s revenue for the quarter was up 15.8% on a year-over-year basis.
A number of brokerages have commented on HSC. Lake Street Capital reissued a “buy” rating and set a $33.00 target price (up previously from $31.00) on shares of Harsco in a report on Wednesday. ValuEngine raised Harsco from a “hold” rating to a “buy” rating in a report on Wednesday. KeyCorp increased their target price on Harsco from $28.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, September 12th. Singular Research began coverage on Harsco in a report on Monday, August 27th. They set a “buy” rating and a $32.00 target price for the company. Finally, Zacks Investment Research cut Harsco from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 4th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Harsco currently has a consensus rating of “Buy” and a consensus price target of $29.40.
The company has a quick ratio of 1.19, a current ratio of 1.53 and a debt-to-equity ratio of 2.45. The firm has a market cap of $1.89 billion, a P/E ratio of 37.12 and a beta of 2.79.
Harsco Company Profile (NYSE:HSC)
Harsco Corporation provides industrial services and engineered products worldwide. The company operates in three segments: Harsco Metals & Minerals, Harsco Industrial, and Harsco Rail. The Harsco Metals & Minerals segment provides on-site services of material logistics, product quality improvement, and resource recovery for iron, steel, and metals manufacturing; and value added environmental solutions for industrial co-products, as well as produces industrial abrasives and roofing granules.
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