Horizon Global (HZN) Issues Earnings Results

Horizon Global (NYSE:HZN) issued its earnings results on Thursday. The company reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.20), Fidelity Earnings reports. The business had revenue of $227.80 million during the quarter, compared to the consensus estimate of $239.28 million. Horizon Global had a positive return on equity of 8.57% and a negative net margin of 15.61%. The company’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 earnings per share.

NYSE HZN opened at $2.56 on Friday. The company has a market cap of $140.54 million, a PE ratio of 2.61, a PEG ratio of 11.70 and a beta of 1.20. Horizon Global has a 52 week low of $2.51 and a 52 week high of $14.80. The company has a quick ratio of 0.80, a current ratio of 1.59 and a debt-to-equity ratio of 20.60.

A number of brokerages have weighed in on HZN. B. Riley downgraded Horizon Global from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $10.50 to $3.00 in a report on Friday. ValuEngine downgraded Horizon Global from a “hold” rating to a “sell” rating in a report on Thursday. Zacks Investment Research downgraded Horizon Global from a “buy” rating to a “hold” rating in a report on Saturday, November 3rd. Finally, Roth Capital upgraded Horizon Global from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $6.00 to $13.00 in a report on Wednesday, August 8th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Horizon Global currently has an average rating of “Hold” and a consensus price target of $11.71.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HZN. LMR Partners LLP bought a new stake in shares of Horizon Global during the second quarter valued at approximately $447,000. Segall Bryant & Hamill LLC increased its holdings in shares of Horizon Global by 64.5% during the second quarter. Segall Bryant & Hamill LLC now owns 82,851 shares of the company’s stock valued at $494,000 after acquiring an additional 32,487 shares in the last quarter. Paloma Partners Management Co bought a new stake in shares of Horizon Global during the second quarter valued at approximately $684,000. Bank of America Corp DE increased its holdings in shares of Horizon Global by 14.8% during the second quarter. Bank of America Corp DE now owns 130,334 shares of the company’s stock valued at $777,000 after acquiring an additional 16,836 shares in the last quarter. Finally, Skylands Capital LLC bought a new stake in shares of Horizon Global during the third quarter valued at approximately $927,000. Hedge funds and other institutional investors own 73.87% of the company’s stock.

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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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Earnings History for Horizon Global (NYSE:HZN)

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