Horizon Global Corp (HZN) Expected to Post Quarterly Sales of $232.32 Million

Wall Street brokerages forecast that Horizon Global Corp (NYSE:HZN) will announce $232.32 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Horizon Global’s earnings, with the highest sales estimate coming in at $233.70 million and the lowest estimate coming in at $230.94 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 business is scheduled to announce its next quarterly earnings results on Tuesday, October 30th.

On average, 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 firm will post sales of $909.07 million per share, 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 research firms that follow Horizon Global.

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

A number of equities research analysts have recently issued reports on HZN shares. B. Riley dropped their target price on shares of Horizon Global from $12.50 to $10.50 and set a “buy” rating on the stock in a report on Monday, June 25th. Roth Capital increased their price objective on shares of Horizon Global from $6.50 to $7.50 and gave the stock a “neutral” rating in a research report on Friday, June 22nd. ValuEngine upgraded shares of Horizon Global from a “sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. Zacks Investment Research upgraded shares of Horizon Global from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Bank of America cut shares of Horizon Global from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $10.00 to $5.00 in a research report on Friday, June 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Horizon Global has an average rating of “Hold” and an average price target of $13.58.

Several hedge funds and other institutional investors have recently modified their holdings of HZN. Dimensional Fund Advisors LP grew its position in Horizon Global by 12.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,572,752 shares of the company’s stock valued at $9,374,000 after purchasing an additional 170,194 shares during the last quarter. Weber Alan W grew its position in Horizon Global by 46.2% during the 2nd quarter. Weber Alan W now owns 229,570 shares of the company’s stock valued at $1,368,000 after purchasing an additional 72,500 shares during the last quarter. Segall Bryant & Hamill LLC grew its position in Horizon Global by 64.5% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 82,851 shares of the company’s stock valued at $494,000 after purchasing an additional 32,487 shares during the last quarter. Rutabaga Capital Management LLC MA grew its position in Horizon Global by 104.7% during the 2nd quarter. Rutabaga Capital Management LLC MA now owns 747,191 shares of the company’s stock valued at $4,453,000 after purchasing an additional 382,238 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its position in Horizon Global by 227.2% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 535,305 shares of the company’s stock valued at $3,190,000 after purchasing an additional 371,719 shares during the last quarter. Hedge funds and other institutional investors own 80.57% of the company’s stock.

Shares of HZN stock traded down $0.25 on Tuesday, reaching $7.64. The stock had a trading volume of 431,173 shares, compared to its average volume of 393,644. The company has a debt-to-equity ratio of 20.60, a quick ratio of 0.71 and a current ratio of 1.59. The stock has a market cap of $198.01 million, a price-to-earnings ratio of 7.80, a PEG ratio of 36.39 and a beta of 0.84. Horizon Global has a 12 month low of $5.13 and a 12 month high of $18.24.

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.

See Also: Price to Earnings Ratio (PE), For Valuing Stocks

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

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