$479.44 Million in Sales Expected for Harsco Co. (HSC) This Quarter

Wall Street brokerages predict that Harsco Co. (NYSE:HSC) will post $479.44 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Harsco’s earnings, with the lowest sales estimate coming in at $479.20 million and the highest estimate coming in at $479.67 million. Harsco posted sales of $431.97 million in the same quarter last year, which would indicate a positive year over year growth rate of 11%. The business is expected to announce its next quarterly earnings report on Thursday, August 1st.

According to Zacks, analysts expect that Harsco will report full year sales of $1.93 billion for the current year, with estimates ranging from $1.92 billion to $1.94 billion. For the next fiscal year, analysts expect that the company will report sales of $2.03 billion, with estimates ranging from $2.03 billion to $2.04 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Harsco.

Harsco (NYSE:HSC) last released its earnings results on Thursday, May 9th. The industrial products company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.05. The company had revenue of $447.29 million during the quarter, compared to the consensus estimate of $439.33 million. Harsco had a return on equity of 37.56% and a net margin of 7.94%. Harsco’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 EPS.

Several equities analysts have weighed in on the company. Zacks Investment Research raised Harsco from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research report on Wednesday, May 15th. KeyCorp lifted their target price on Harsco from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, May 10th. ValuEngine raised Harsco from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. Finally, Singular Research reissued a “buy” rating on shares of Harsco in a research report on Thursday, March 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $32.00.

NYSE HSC traded down $0.12 during trading on Wednesday, hitting $25.21. The stock had a trading volume of 387,700 shares, compared to its average volume of 535,398. The company has a market cap of $1.99 billion, a P/E ratio of 19.24 and a beta of 2.50. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.52 and a quick ratio of 1.17. Harsco has a twelve month low of $18.87 and a twelve month high of $30.05.

In other news, SVP Scott H. Gerson sold 9,308 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $25.26, for a total transaction of $235,120.08. Following the completion of the transaction, the senior vice president now directly owns 22,374 shares of the company’s stock, valued at $565,167.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.64% of the company’s stock.

Several institutional investors have recently made changes to their positions in HSC. Bank of New York Mellon Corp grew its position in shares of Harsco by 7.1% during the third quarter. Bank of New York Mellon Corp now owns 1,214,262 shares of the industrial products company’s stock worth $34,667,000 after buying an additional 80,367 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Harsco by 3.9% during the third quarter. JPMorgan Chase & Co. now owns 728,974 shares of the industrial products company’s stock worth $20,813,000 after buying an additional 27,350 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Harsco by 41.1% during the third quarter. Nordea Investment Management AB now owns 176,184 shares of the industrial products company’s stock worth $5,030,000 after buying an additional 51,345 shares in the last quarter. Federated Investors Inc. PA lifted its stake in Harsco by 0.4% during the third quarter. Federated Investors Inc. PA now owns 334,825 shares of the industrial products company’s stock worth $9,559,000 after purchasing an additional 1,456 shares during the last quarter. Finally, SG Capital Management LLC lifted its stake in Harsco by 19.8% during the fourth quarter. SG Capital Management LLC now owns 1,541,239 shares of the industrial products company’s stock worth $30,609,000 after purchasing an additional 255,037 shares during the last quarter. 84.05% of the stock is owned by institutional investors and hedge funds.

Harsco Company Profile

Harsco Corporation provides industrial services and engineered products worldwide. The company operates in three segments: Harsco Metals & Minerals, Harsco Industrial, and Harsco Rail. The Harsco Metals & Minerals segment provides on-site services of material logistics, product quality improvement, and resource recovery for iron, steel, and metals manufacturing; and value added environmental solutions for industrial co-products, as well as produces industrial abrasives and roofing granules.

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