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

Brokerages expect that Horizon Global Corp (NYSE:HZN) will report sales of $232.32 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Horizon Global’s earnings, with the lowest sales estimate coming in at $230.94 million and the highest estimate coming in at $233.70 million. Horizon Global posted sales of $240.12 million in the same quarter last year, which suggests a negative year-over-year growth rate of 3.2%. The company is scheduled to announce its next quarterly 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 anticipate that the firm will post sales of $909.07 million, with estimates ranging from $908.50 million to $909.63 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Horizon Global.

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

A number of equities analysts have weighed in on HZN shares. Roth Capital raised Horizon Global from a “neutral” rating to a “buy” rating and upped their price target for the stock from $6.00 to $13.00 in a research report on Wednesday, August 8th. Bank of America downgraded Horizon Global from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $10.00 to $5.00 in a research report on Friday, June 22nd. Zacks Investment Research raised Horizon Global from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a research report on Wednesday, October 10th. B. Riley reduced their price target on Horizon Global from $12.50 to $10.50 and set a “buy” rating for the company in a research report on Monday, June 25th. Finally, ValuEngine raised Horizon Global from a “sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $12.79.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HZN. Dynamic Technology Lab Private Ltd increased its position in shares of Horizon Global by 168.1% in the first quarter. Dynamic Technology Lab Private Ltd now owns 46,322 shares of the company’s stock worth $382,000 after purchasing an additional 29,042 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in Horizon Global in the 1st quarter worth approximately $415,000. LMR Partners LLP purchased a new stake in Horizon Global in the 2nd quarter worth approximately $447,000. GSA Capital Partners LLP purchased a new stake in Horizon Global in the 1st quarter worth approximately $460,000. Finally, Paloma Partners Management Co purchased a new stake in Horizon Global in the 2nd quarter worth approximately $684,000. 73.65% of the stock is owned by institutional investors.

NYSE:HZN traded down $0.55 during trading hours on Friday, reaching $6.30. 225,200 shares of the stock were exchanged, compared to its average volume of 375,471. Horizon Global has a twelve month low of $5.13 and a twelve month high of $17.78. The company has a quick ratio of 0.80, a current ratio of 1.59 and a debt-to-equity ratio of 20.60. The company has a market cap of $179.94 million, a P/E ratio of 6.43, a price-to-earnings-growth ratio of 14.98 and a beta of 0.92.

Horizon Global Company Profile

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.

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Earnings History and Estimates for Horizon Global (NYSE:HZN)

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