Zacks: Analysts Anticipate Horizon Global Corp (NYSE:HZN) to Announce -$0.13 Earnings Per Share

Wall Street brokerages predict that Horizon Global Corp (NYSE:HZN) will announce earnings of ($0.13) per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Horizon Global’s earnings. The lowest EPS estimate is ($0.38) and the highest is $0.12. Horizon Global posted earnings per share of $0.36 during the same quarter last year, which indicates a negative year-over-year growth rate of 136.1%. The business is scheduled to announce its next earnings report on Tuesday, August 6th.

On average, analysts expect that Horizon Global will report full-year earnings of ($1.13) per share for the current fiscal year, with EPS estimates ranging from ($1.50) to ($0.76). For the next fiscal year, analysts forecast that the business will post earnings of ($0.33) per share, with EPS estimates ranging from ($0.35) to ($0.30). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Horizon Global.

Horizon Global (NYSE:HZN) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.67) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by ($0.16). Horizon Global had a negative net margin of 20.35% and a negative return on equity of 731.99%. The firm had revenue of $209.66 million during the quarter, compared to analyst estimates of $199.75 million.

Several equities research analysts recently weighed in on HZN shares. Roth Capital reaffirmed a “buy” rating on shares of Spartan Motors in a report on Friday, May 24th. ValuEngine raised Zumiez from a “sell” rating to a “hold” rating in a report on Monday.

Shares of NYSE HZN traded up $0.15 during mid-day trading on Tuesday, hitting $4.65. 201,700 shares of the company were exchanged, compared to its average volume of 218,748. The business’s 50 day moving average is $3.82. Horizon Global has a 1-year low of $1.34 and a 1-year high of $8.50. The company has a market capitalization of $99.54 million, a price-to-earnings ratio of -3.37 and a beta of 1.21.

In related news, Director Frederick A. Henderson purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was purchased at an average cost of $2.90 per share, with a total value of $29,000.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at $29,000. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Frederick A. Henderson purchased 15,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were bought at an average cost of $3.01 per share, with a total value of $45,150.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $30,100. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 35,000 shares of company stock valued at $110,150. Corporate insiders own 10.23% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. California Public Employees Retirement System raised its position in Horizon Global by 12.7% in the fourth quarter. California Public Employees Retirement System now owns 146,881 shares of the company’s stock worth $210,000 after acquiring an additional 16,521 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Horizon Global in the fourth quarter worth $104,000. Finally, Royce & Associates LP raised its position in Horizon Global by 57.1% in the first quarter. Royce & Associates LP now owns 1,689,690 shares of the company’s stock worth $3,278,000 after acquiring an additional 614,364 shares in the last quarter. Hedge funds and other institutional investors own 41.87% of the company’s stock.

About Horizon Global

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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