FY2019 EPS Estimates for Horizon Global Corp Lowered by Analyst (NYSE:HZN)

Horizon Global Corp (NYSE:HZN) – Analysts at B. Riley cut their FY2019 earnings estimates for shares of Horizon Global in a note issued to investors on Wednesday, November 13th. B. Riley analyst J. Nichols now forecasts that the company will post earnings of ($2.64) per share for the year, down from their previous forecast of ($1.23). B. Riley has a “Neutral” rating on the stock. B. Riley also issued estimates for Horizon Global’s Q4 2019 earnings at ($0.44) EPS and FY2020 earnings at ($0.11) EPS.

Horizon Global (NYSE:HZN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($1.47) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($1.56). The company had revenue of $177.85 million during the quarter, compared to analyst estimates of $239.31 million.

Several other brokerages have also issued reports on HZN. Zacks Investment Research upgraded Horizon Global from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a report on Tuesday, November 5th. ValuEngine lowered Horizon Global from a “buy” rating to a “hold” rating in a report on Wednesday.

Shares of NYSE:HZN opened at $3.47 on Friday. Horizon Global has a 1 year low of $1.34 and a 1 year high of $5.79. The business has a fifty day simple moving average of $3.94 and a 200 day simple moving average of $3.90. The firm has a market cap of $87.86 million, a price-to-earnings ratio of -2.51 and a beta of 1.33.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Horizon Global by 2.4% in the second quarter. Vanguard Group Inc. now owns 848,039 shares of the company’s stock valued at $3,044,000 after purchasing an additional 19,689 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in shares of Horizon Global by 12.9% in the second quarter. D. E. Shaw & Co. Inc. now owns 446,807 shares of the company’s stock valued at $1,604,000 after purchasing an additional 51,118 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Horizon Global by 13.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,487,928 shares of the company’s stock valued at $12,522,000 after purchasing an additional 404,930 shares during the last quarter. California Public Employees Retirement System grew its position in shares of Horizon Global by 5.8% in the third quarter. California Public Employees Retirement System now owns 114,900 shares of the company’s stock valued at $439,000 after purchasing an additional 6,300 shares during the last quarter. Finally, Adirondack Research & Management Inc. acquired a new stake in shares of Horizon Global in the third quarter valued at about $974,000. Institutional investors own 41.64% of the company’s stock.

In related news, Director Frederick A. Henderson bought 15,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were bought at an average cost of $3.81 per share, for a total transaction of $57,150.00. Following the completion of the acquisition, the director now directly owns 84,199 shares in the company, valued at $320,798.19. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John C. Kennedy bought 8,944 shares of the business’s stock in a transaction on Monday, August 26th. The shares were bought at an average price of $3.99 per share, for a total transaction of $35,686.56. Following the completion of the acquisition, the director now owns 507,952 shares of the company’s stock, valued at $2,026,728.48. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 85,543 shares of company stock valued at $333,073. 1.90% of the stock is owned by corporate insiders.

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.

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