Zacks: Brokerages Expect Horizon Global Corp (HZN) to Announce $0.19 EPS

Wall Street brokerages forecast that Horizon Global Corp (NYSE:HZN) will report $0.19 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Horizon Global’s earnings. The highest EPS estimate is $0.34 and the lowest is $0.11. Horizon Global reported earnings of $0.38 per share during the same quarter last year, which would indicate a negative year over year growth rate of 50%. The business is expected to announce its next quarterly earnings report on Tuesday, October 30th.

On average, analysts expect that Horizon Global will report full-year earnings of $0.18 per share for the current year, with EPS estimates ranging from $0.00 to $0.37. For the next financial year, analysts expect that the company will report earnings of $0.53 per share, with EPS estimates ranging from $0.36 to $0.70. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for 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 negative net margin of 15.61% and a positive return on equity of 8.57%. The company had revenue of $233.34 million during the quarter, compared to the consensus estimate of $232.85 million.

A number of analysts have recently weighed in on the stock. Roth Capital raised shares of Horizon Global from a “neutral” rating to a “buy” rating and raised their price target for the stock from $6.00 to $13.00 in a research report on Wednesday, August 8th. Bank of America downgraded shares of Horizon Global from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $10.00 to $5.00 in a research report on Friday, June 22nd. Zacks Investment Research raised shares of Horizon Global from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. ValuEngine raised shares of Horizon Global from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 27th. Finally, B. Riley decreased their price target on shares of Horizon Global from $12.50 to $10.50 and set a “buy” rating for the company in a research report on Monday, June 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $12.79.

Hedge funds have recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. lifted its stake in Horizon Global by 20.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 115,995 shares of the company’s stock worth $956,000 after purchasing an additional 19,827 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Horizon Global by 17.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,402,558 shares of the company’s stock worth $11,557,000 after purchasing an additional 206,467 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Horizon Global by 4.6% during the first quarter. Russell Investments Group Ltd. now owns 320,514 shares of the company’s stock worth $2,641,000 after purchasing an additional 14,173 shares during the last quarter. GSA Capital Partners LLP bought a new position in Horizon Global during the first quarter worth $460,000. Finally, Segall Bryant & Hamill LLC bought a new position in Horizon Global during the first quarter worth $415,000. 73.65% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:HZN opened at $6.96 on Friday. Horizon Global has a 52-week low of $5.13 and a 52-week high of $17.78. The company has a debt-to-equity ratio of 20.60, a current ratio of 1.59 and a quick ratio of 0.80. The company has a market capitalization of $178.93 million, a price-to-earnings ratio of 7.10, a PEG ratio of 14.89 and a beta of 0.92.

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.

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