Horizon Global (NYSE:HZN) Releases Earnings Results, Misses Expectations By $1.56 EPS

Horizon Global (NYSE:HZN) issued its earnings results on Tuesday. The company reported ($1.47) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($1.56), Fidelity Earnings reports. The firm had revenue of $177.85 million for the quarter, compared to the consensus estimate of $239.31 million.

HZN traded down $0.11 on Wednesday, reaching $3.68. The company had a trading volume of 136,959 shares, compared to its average volume of 190,760. Horizon Global has a fifty-two week low of $1.34 and a fifty-two week high of $5.79. The stock has a market cap of $115.46 million, a P/E ratio of -2.67 and a beta of 1.33. The company’s fifty day moving average is $3.96 and its 200 day moving average is $3.90.

In related news, Director John C. Kennedy purchased 8,944 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were acquired at an average price of $3.99 per share, for a total transaction of $35,686.56. Following the purchase, the director now owns 507,952 shares in the company, valued at $2,026,728.48. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frederick A. Henderson purchased 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was bought at an average price of $3.81 per share, for a total transaction of $57,150.00. Following the purchase, the director now owns 84,199 shares in the company, valued at approximately $320,798.19. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 85,543 shares of company stock worth $333,073. 10.23% of the stock is owned by company insiders.

HZN has been the topic of a number of research analyst reports. B. Riley set a $2.50 target price on shares of Horizon Global and gave the company a “hold” rating in a report on Monday, September 23rd. Zacks Investment Research raised shares of Horizon Global from a “hold” rating to a “buy” rating and set a $4.50 target price on the stock in a report on Tuesday, November 5th. Finally, ValuEngine lowered shares of Horizon Global from a “buy” rating to a “hold” rating in a research note on Wednesday.

Horizon Global Company Profile

Horizon Global Corporation designs, manufactures, and distributes a range of towing, trailering, cargo management, and other related accessory products worldwide. It operates in three segments: Horizon Americas, Horizon Asia-Pacific, and Horizon Europe-Africa. The company provides towing products, such as hitches, fifth wheels, gooseneck hitches, weight distribution systems, wiring harnesses, draw bars, ball mounts, crossbars, tow bars, security products, and other towing accessories for attaching a trailer, camper, etc.

Further Reading: Bid-Ask Spread

Earnings History for Horizon Global (NYSE:HZN)

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