Zacks: Analysts Expect Horizon Global Corp (HZN) Will Post Quarterly Sales of $232.32 Million

Share on StockTwits

Brokerages expect Horizon Global Corp (NYSE:HZN) to post sales of $232.32 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Horizon Global’s earnings. The lowest sales estimate is $230.94 million and the highest is $233.70 million. Horizon Global reported sales of $240.12 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 3.2%. The firm is scheduled to announce its next earnings results on Tuesday, October 30th.

According to Zacks, analysts expect that Horizon Global will report full-year sales of $879.66 million for the current year, with estimates ranging from $876.81 million to $882.50 million. For the next year, analysts expect that the company will post sales of $909.07 million, with estimates ranging from $908.50 million to $909.63 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Horizon Global.

Horizon Global (NYSE:HZN) last released its quarterly earnings results on Tuesday, August 7th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.15. The business had revenue of $233.34 million for the quarter, compared to the consensus estimate of $232.85 million. Horizon Global had a negative net margin of 15.61% and a positive return on equity of 8.57%.

HZN has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Horizon Global from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a research note on Wednesday. B. Riley reduced their price target on shares of Horizon Global from $12.50 to $10.50 and set a “buy” rating on the stock in a research note on Monday, June 25th. Roth Capital raised shares of Horizon Global from a “neutral” rating to a “buy” rating and boosted their price target for the company from $6.00 to $13.00 in a research note on Wednesday, August 8th. ValuEngine raised shares of Horizon Global from a “sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. Finally, Bank of America downgraded shares of Horizon Global from a “buy” rating to an “underperform” rating and cut their target price for the stock from $10.00 to $5.00 in a research note on Friday, June 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $12.79.

A number of institutional investors and hedge funds have recently made changes to their positions in HZN. Schwab Charles Investment Management Inc. increased its stake in Horizon Global by 20.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 115,995 shares of the company’s stock worth $956,000 after buying an additional 19,827 shares during the period. Dimensional Fund Advisors LP increased 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. Russell Investments Group Ltd. increased its stake in Horizon Global by 4.6% during the 1st quarter. Russell Investments Group Ltd. now owns 320,514 shares of the company’s stock worth $2,641,000 after buying an additional 14,173 shares during the period. GSA Capital Partners LLP purchased a new stake in Horizon Global during the 1st quarter worth approximately $460,000. Finally, Segall Bryant & Hamill LLC purchased a new stake in shares of Horizon Global in the 1st quarter valued at approximately $415,000. 73.65% of the stock is currently owned by hedge funds and other institutional investors.

Horizon Global stock opened at $6.96 on Friday. The company has a market capitalization of $178.93 million, a PE ratio of 7.10, a P/E/G ratio of 14.89 and a beta of 0.92. Horizon Global has a 1 year low of $5.13 and a 1 year high of $17.78. The company has a current ratio of 1.59, a quick ratio of 0.80 and a debt-to-equity ratio of 20.60.

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.

Featured Article: Day Trading – Risk Worth the Reward?

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