Horizon Global Corp (NYSE:HZN) – Equities researchers at Barrington Research issued their FY2017 earnings estimates for shares of Horizon Global in a report issued on Tuesday. Barrington Research analyst M. Gall forecasts that the company will post earnings per share of $1.07 for the year. Barrington Research has a “Outperform” rating and a $23.00 price target on the stock. Barrington Research also issued estimates for Horizon Global’s Q4 2017 earnings at $0.03 EPS, Q1 2018 earnings at $0.04 EPS, Q2 2018 earnings at $0.75 EPS, Q3 2018 earnings at $0.49 EPS, Q4 2018 earnings at $0.15 EPS and FY2018 earnings at $1.43 EPS.
Several other research firms also recently issued reports on HZN. Zacks Investment Research downgraded shares of Horizon Global from a “hold” rating to a “sell” rating in a research note on Tuesday, October 31st. Roth Capital set a $24.00 price target on shares of Horizon Global and gave the stock a “buy” rating in a research note on Saturday, December 16th. BMO Capital Markets reaffirmed a “buy” rating and set a $20.00 price target on shares of Horizon Global in a research note on Friday, October 13th. ValuEngine raised shares of Horizon Global from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Bank of America downgraded shares of Horizon Global from a “neutral” rating to an “underperform” rating in a research note on Tuesday, September 5th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $20.33.
Horizon Global (NYSE:HZN) last released its quarterly earnings results on Tuesday, October 31st. The company reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.01. Horizon Global had a negative net margin of 0.56% and a positive return on equity of 16.58%. The firm had revenue of $240.10 million for the quarter, compared to the consensus estimate of $227.24 million. During the same quarter in the previous year, the firm posted $0.30 EPS. The firm’s quarterly revenue was up 58.3% on a year-over-year basis.
A number of hedge funds have recently made changes to their positions in the business. Dean Investment Associates LLC acquired a new position in Horizon Global during the 3rd quarter worth $3,387,000. PEAK6 Investments L.P. acquired a new position in Horizon Global during the 3rd quarter worth $233,000. Spitfire Capital LLC grew its holdings in Horizon Global by 2.1% during the 3rd quarter. Spitfire Capital LLC now owns 1,093,319 shares of the company’s stock worth $19,286,000 after acquiring an additional 22,100 shares in the last quarter. Engineers Gate Manager LP acquired a new position in Horizon Global during the 3rd quarter worth $490,000. Finally, Dimensional Fund Advisors LP grew its holdings in Horizon Global by 3.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,021,346 shares of the company’s stock worth $18,017,000 after acquiring an additional 29,724 shares in the last quarter. 90.84% of the stock is owned by institutional investors.
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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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