Brokerages expect Horizon Global Corp (NYSE:HZN) to announce sales of $194.41 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Horizon Global’s earnings, with the highest sales estimate coming in at $195.00 million and the lowest estimate coming in at $193.85 million. Horizon Global posted sales of $183.61 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.9%. The company is scheduled to report its next earnings results before the market opens on Thursday, March 8th.
According to Zacks, analysts expect that Horizon Global will report full year sales of $194.41 million for the current fiscal year, with estimates ranging from $890.84 million to $892.00 million. For the next financial year, analysts forecast that the business will post sales of $975.10 million per share, with estimates ranging from $915.00 million to $1.00 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Horizon Global.
Several equities research analysts recently issued reports on the company. Zacks Investment Research downgraded Horizon Global from a “hold” rating to a “sell” rating in a research note on Tuesday, January 30th. Seaport Global Securities reissued a “hold” rating and issued a $10.00 price objective on shares of Horizon Global in a research note on Thursday, January 25th. ValuEngine raised Horizon Global from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 25th. Bank of America raised Horizon Global from an “underperform” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Wednesday, February 7th. Finally, Roth Capital reissued a “buy” rating and issued a $14.00 price objective (down from $24.00) on shares of Horizon Global in a research note on Friday, January 26th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $17.67.
A number of hedge funds have recently modified their holdings of the business. MetLife Investment Advisors LLC acquired a new position in Horizon Global in the 4th quarter worth about $135,000. Millennium Management LLC increased its position in Horizon Global by 276.8% in the 4th quarter. Millennium Management LLC now owns 817,279 shares of the company’s stock worth $11,458,000 after purchasing an additional 600,388 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Horizon Global by 385.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 56,117 shares of the company’s stock worth $787,000 after purchasing an additional 44,568 shares during the last quarter. Cornercap Investment Counsel Inc. acquired a new position in Horizon Global in the 4th quarter worth about $742,000. Finally, Clearbridge LLC increased its position in Horizon Global by 10.3% in the 4th quarter. Clearbridge LLC now owns 819,336 shares of the company’s stock worth $11,487,000 after purchasing an additional 76,400 shares during the last quarter. 90.45% of the stock is currently owned by institutional investors.
Shares of Horizon Global (HZN) traded up $0.14 during trading on Friday, reaching $8.32. The company had a trading volume of 391,600 shares, compared to its average volume of 578,330. The stock has a market cap of $207.48, a P/E ratio of 12.23, a P/E/G ratio of 0.76 and a beta of 0.78. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 1.62. Horizon Global has a 1 year low of $7.69 and a 1 year high of $19.43.
About Horizon Global
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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