Horizon Global Corporation (HZN) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Horizon Global Corporation (NYSE:HZN) issued its earnings results on Tuesday. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.01, Bloomberg Earnings reports. The firm had revenue of $240.10 million for the quarter, compared to the consensus estimate of $227.24 million. Horizon Global Corporation had a negative net margin of 1.45% and a positive return on equity of 18.86%. The business’s revenue was up 58.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 earnings per share. Horizon Global Corporation updated its FY17 guidance to $1.04-1.14 EPS.

Shares of Horizon Global Corporation (NYSE HZN) traded down 2.46% on Wednesday, reaching $15.83. 86,047 shares of the company were exchanged. The firm’s 50 day moving average price is $17.24 and its 200 day moving average price is $17.23. Horizon Global Corporation has a 52 week low of $11.80 and a 52 week high of $26.36. The stock’s market capitalization is $394.74 million.

Several brokerages have recently issued reports on HZN. Zacks Investment Research downgraded shares of Horizon Global Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday. BidaskClub downgraded shares of Horizon Global Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. BMO Capital Markets upped their target price on shares of Horizon Global Corporation from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. Roth Capital set a $22.00 target price on shares of Horizon Global Corporation and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Finally, Bank of America Corporation downgraded shares of Horizon Global Corporation from a “neutral” rating to an “underperform” rating in a research note on Tuesday, September 5th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $19.83.

In other Horizon Global Corporation news, CEO A Mark Zeffiro sold 17,130 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $16.45, for a total transaction of $281,788.50. Following the sale, the chief executive officer now owns 238,284 shares of the company’s stock, valued at approximately $3,919,771.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.27% of the stock is currently owned by insiders.

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About Horizon Global Corporation

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.

Earnings History for Horizon Global Corporation (NYSE:HZN)

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