Wall Street brokerages expect Horizon Global Corp (NYSE:HZN) to announce sales of $241.29 million for the current quarter, Zacks reports. Two analysts have issued estimates for Horizon Global’s earnings, with the lowest sales estimate coming in at $236.28 million and the highest estimate coming in at $246.30 million. Horizon Global posted sales of $227.84 million during the same quarter last year, which suggests a positive year over year growth rate of 5.9%. The business is expected to report its next earnings report on Thursday, November 14th.
On average, analysts expect that Horizon Global will report full-year sales of $857.13 million for the current financial year, with estimates ranging from $844.36 million to $869.90 million. For the next year, analysts expect that the company will post sales of $887.40 million, with estimates ranging from $886.90 million to $887.89 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Horizon Global.
Horizon Global (NYSE:HZN) last posted its earnings results on Thursday, August 8th. The company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.07). The firm had revenue of $223.16 million during the quarter, compared to analysts’ expectations of $241.23 million. Horizon Global had a negative net margin of 13.54% and a negative return on equity of 731.99%.
A number of hedge funds have recently made changes to their positions in HZN. California Public Employees Retirement System increased its stake 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 in the last quarter. D. E. Shaw & Co. Inc. increased its stake in Horizon Global by 12.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 446,807 shares of the company’s stock valued at $1,604,000 after purchasing an additional 51,118 shares in the last quarter. Vanguard Group Inc. increased its stake in Horizon Global by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 848,039 shares of the company’s stock valued at $3,044,000 after purchasing an additional 19,689 shares in the last quarter. Royce & Associates LP increased its stake 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 purchasing an additional 614,364 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Horizon Global by 13.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,487,928 shares of the company’s stock worth $12,522,000 after acquiring an additional 404,930 shares in the last quarter. Institutional investors and hedge funds own 40.26% of the company’s stock.
HZN stock traded up $0.01 during trading on Friday, hitting $2.93. The company had a trading volume of 79,600 shares, compared to its average volume of 216,417. The stock has a market cap of $74.95 million, a price-to-earnings ratio of -2.12 and a beta of 1.25. Horizon Global has a 1-year low of $1.34 and a 1-year high of $8.50. The company has a 50-day simple moving average 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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