Analysts predict that Horizon Global Corporation (NYSE:HZN) will post sales of $226.52 million for the current quarter, Zacks reports. Four analysts have made estimates for Horizon Global Corporation’s earnings. The highest sales estimate is $230.00 million and the lowest is $220.00 million. Horizon Global Corporation posted sales of $151.72 million during the same quarter last year, which suggests a positive year-over-year growth rate of 49.3%. The business is scheduled to announce its next quarterly earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Horizon Global Corporation will report full year sales of $226.52 million for the current year, with estimates ranging from $863.90 million to $875.00 million. For the next year, analysts forecast that the firm will report sales of $893.99 million per share, with estimates ranging from $887.40 million to $901.75 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Horizon Global Corporation.
Horizon Global Corporation (NYSE:HZN) last posted its earnings results on Tuesday, August 1st. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.17. The company had revenue of $253.60 million for the quarter, compared to analyst estimates of $241.08 million. Horizon Global Corporation had a negative net margin of 1.45% and a positive return on equity of 18.86%. The firm’s revenue was up 51.1% compared to the same quarter last year.
Several research analysts have issued reports on the company. Bank of America Corporation lowered Horizon Global Corporation from a “neutral” rating to an “underperform” rating in a research note on Tuesday, September 5th. BMO Capital Markets reiterated a “buy” rating and set a $18.00 price objective on shares of Horizon Global Corporation in a research note on Thursday, July 13th. Zacks Investment Research lowered Horizon Global Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. Roth Capital set a $22.00 price objective on Horizon Global Corporation and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Finally, BidaskClub lowered Horizon Global Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Horizon Global Corporation has an average rating of “Hold” and an average price target of $20.29.
Horizon Global Corporation (HZN) traded down 0.30% during trading on Monday, reaching $16.79. 212,511 shares of the company’s stock traded hands. The firm has a 50 day moving average of $16.69 and a 200 day moving average of $15.10. Horizon Global Corporation has a 1-year low of $11.80 and a 1-year high of $26.36. The firm’s market capitalization is $418.68 million.
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Institutional investors have recently added to or reduced their stakes in the business. Capital Fund Management S.A. acquired a new position in Horizon Global Corporation during the first quarter worth $149,000. Voya Investment Management LLC acquired a new stake in shares of Horizon Global Corporation in the second quarter valued at $159,000. Suntrust Banks Inc. acquired a new stake in shares of Horizon Global Corporation in the first quarter valued at $167,000. Wilen Investment Management CORP. increased its stake in shares of Horizon Global Corporation by 3.0% in the second quarter. Wilen Investment Management CORP. now owns 12,440 shares of the company’s stock valued at $174,000 after buying an additional 360 shares in the last quarter. Finally, Sei Investments Co. increased its stake in shares of Horizon Global Corporation by 58.1% in the second quarter. Sei Investments Co. now owns 12,406 shares of the company’s stock valued at $178,000 after buying an additional 4,561 shares in the last quarter. Hedge funds and other institutional investors own 94.02% of the company’s stock.
Horizon Global Corporation Company Profile
Horizon Global Corporation is a designer, manufacturer and distributor of a range of custom-engineered towing, trailering, cargo management and other products serving the automotive aftermarket, retail and original equipment (OE) channels. The Company operates through three segments: Horizon Americas, Horizon Asia-Pacific, and Horizon Europe-Africa.
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