Harsco (NYSE:HSC) Issues Q3 2022 Earnings Guidance

Harsco (NYSE:HSCGet Rating) issued an update on its third quarter 2022 earnings guidance on Tuesday morning. The company provided EPS guidance of -$0.08–$0.02 for the period, compared to the consensus EPS estimate of $0.06. The company issued revenue guidance of -. Harsco also updated its FY 2022 guidance to -$0.13-0 EPS.

Harsco Stock Up 9.0 %

HSC traded up $0.53 during trading on Friday, hitting $6.39. 1,012,334 shares of the company’s stock traded hands, compared to its average volume of 629,471. The company’s 50 day simple moving average is $6.69 and its two-hundred day simple moving average is $10.41. The company has a current ratio of 1.32, a quick ratio of 1.37 and a debt-to-equity ratio of 2.00. Harsco has a 12-month low of $4.36 and a 12-month high of $19.90. The stock has a market capitalization of $507.48 million, a price-to-earnings ratio of -3.03 and a beta of 1.70.

Harsco (NYSE:HSCGet Rating) last released its quarterly earnings results on Tuesday, August 2nd. The industrial products company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. Harsco had a positive return on equity of 4.51% and a negative net margin of 8.36%. The firm had revenue of $481.10 million for the quarter, compared to the consensus estimate of $465.78 million. During the same period last year, the business posted $0.28 EPS. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts predict that Harsco will post -0.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on HSC shares. DA Davidson decreased their target price on Harsco from $16.00 to $13.00 and set a buy rating on the stock in a report on Wednesday, July 20th. BMO Capital Markets started coverage on Harsco in a report on Tuesday, July 12th. They issued a market perform rating on the stock. TheStreet cut Harsco from a c- rating to a d rating in a report on Friday, May 13th. Finally, Barrington Research reduced their target price on Harsco from $20.00 to $13.00 and set an outperform rating on the stock in a report on Monday, July 18th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $13.00.

Institutional Investors Weigh In On Harsco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Harsco by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 68,282 shares of the industrial products company’s stock valued at $836,000 after buying an additional 8,419 shares in the last quarter. Ancora Advisors LLC purchased a new position in Harsco in the 1st quarter valued at about $812,000. JPMorgan Chase & Co. lifted its stake in Harsco by 10.6% in the 1st quarter. JPMorgan Chase & Co. now owns 62,562 shares of the industrial products company’s stock valued at $766,000 after buying an additional 6,007 shares in the last quarter. Bridgewater Associates LP lifted its stake in Harsco by 148.6% in the 1st quarter. Bridgewater Associates LP now owns 56,869 shares of the industrial products company’s stock valued at $696,000 after buying an additional 33,995 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its stake in Harsco by 53.5% in the 1st quarter. MetLife Investment Management LLC now owns 41,980 shares of the industrial products company’s stock valued at $514,000 after buying an additional 14,636 shares in the last quarter. 95.61% of the stock is owned by institutional investors and hedge funds.

Harsco Company Profile

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Harsco Corporation provides environmental solutions for industrial and specialty waste streams worldwide. It operates through two segments, Harsco Environmental and Harsco Clean Earth. The Harsco Environmental segment offers on-site services for material logistics, product quality improvement, and resource recovery for iron, steel, and metals manufacturing; manufactures and sells industrial abrasives, roofing granules, aluminum dross, and scrap processing systems; and produces value-added downstream products from industrial waste-stream.

See Also

Earnings History and Estimates for Harsco (NYSE:HSC)

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