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

Brokerages predict that Harsco Co. (NYSE:HSC) will announce $479.44 million in sales for the current quarter, Zacks reports. 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 firm is scheduled to announce its next earnings results on Thursday, August 1st.

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

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

HSC has been the topic of a number of research analyst reports. KeyCorp boosted 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 lowered Harsco from a “hold” rating to a “sell” rating in a research report on Friday, March 22nd. Zacks Investment Research raised Harsco from a “sell” rating to a “hold” rating in a research report on Tuesday, March 5th. Finally, Singular Research reaffirmed a “buy” rating on shares of Harsco in a research report on Thursday, March 7th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $32.00.

In other news, SVP Scott H. Gerson sold 9,308 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $25.26, for a total transaction of $235,120.08. Following the sale, the senior vice president now owns 22,374 shares of the company’s stock, valued at $565,167.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Scott H. Gerson sold 4,428 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $25.97, for a total value of $114,995.16. Following the sale, the senior vice president now directly owns 17,633 shares in the company, valued at approximately $457,929.01. The disclosure for this sale can be found here. 1.64% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. Marshall Wace North America L.P. boosted its stake in Harsco by 1,096.7% in the first quarter. Marshall Wace North America L.P. now owns 26,639 shares of the industrial products company’s stock valued at $536,000 after acquiring an additional 24,413 shares in the last quarter. Marshall Wace LLP boosted its stake in Harsco by 139.9% in the first quarter. Marshall Wace LLP now owns 51,901 shares of the industrial products company’s stock valued at $1,046,000 after acquiring an additional 30,266 shares in the last quarter. Nordea Investment Management AB boosted its stake in Harsco by 0.7% in the first quarter. Nordea Investment Management AB now owns 172,775 shares of the industrial products company’s stock valued at $3,484,000 after acquiring an additional 1,278 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its stake in Harsco by 16.5% in the first quarter. Schonfeld Strategic Advisors LLC now owns 19,000 shares of the industrial products company’s stock valued at $383,000 after acquiring an additional 2,687 shares in the last quarter. Finally, Premia Global Advisors LLC acquired a new position in Harsco in the first quarter valued at $38,000. 84.64% of the stock is currently owned by institutional investors and hedge funds.

NYSE HSC traded down $0.19 on Friday, reaching $26.53. The stock had a trading volume of 302,600 shares, compared to its average volume of 539,946. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 20.25 and a beta of 2.18. The company has a quick ratio of 1.17, a current ratio of 1.52 and a debt-to-equity ratio of 2.03. Harsco has a 12-month low of $18.87 and a 12-month high of $30.05.

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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