$450.91 Million in Sales Expected for Harsco Co. (NYSE:HSC) This Quarter

Equities research analysts expect Harsco Co. (NYSE:HSC) to announce sales of $450.91 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Harsco’s earnings. The lowest sales estimate is $445.10 million and the highest is $455.50 million. Harsco posted sales of $350.90 million during the same quarter last year, which would indicate a positive year over year growth rate of 28.5%. The business is scheduled to report its next earnings report on Wednesday, July 29th.

According to Zacks, analysts expect that Harsco will report full year sales of $1.88 billion for the current financial year, with estimates ranging from $1.83 billion to $1.90 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.16 billion, with estimates ranging from $2.13 billion to $2.17 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Harsco.

Harsco (NYSE:HSC) last issued its earnings results on Friday, May 8th. The industrial products company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.14. The company had revenue of $398.80 million for the quarter, compared to analyst estimates of $380.60 million. Harsco had a net margin of 30.74% and a return on equity of 9.64%. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.29 EPS.

Several research analysts have recently issued reports on the stock. ValuEngine raised shares of Harsco from a “sell” rating to a “hold” rating in a research note on Wednesday, April 8th. Lake Street Capital reduced their target price on shares of Harsco from $31.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, April 8th. Barrington Research lifted their price objective on shares of Harsco from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 16th. Zacks Investment Research raised shares of Harsco from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Wednesday, June 10th. Finally, KeyCorp reduced their price objective on shares of Harsco from $24.00 to $15.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $18.60.

In other Harsco news, SVP Tracey L. Mckenzie sold 41,179 shares of Harsco stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $8.31, for a total value of $342,197.49. Following the transaction, the senior vice president now owns 2,600 shares of the company’s stock, valued at $21,606. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Edgar M. Purvis, Jr. purchased 9,000 shares of the business’s stock in a transaction on Friday, May 15th. The stock was bought at an average cost of $9.30 per share, for a total transaction of $83,700.00. 1.81% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in HSC. Channing Capital Management LLC bought a new position in Harsco in the first quarter valued at approximately $13,955,000. Wells Fargo & Company MN raised its holdings in shares of Harsco by 2,635.5% in the first quarter. Wells Fargo & Company MN now owns 1,289,311 shares of the industrial products company’s stock valued at $8,986,000 after purchasing an additional 1,242,179 shares during the last quarter. Norges Bank acquired a new stake in shares of Harsco in the fourth quarter valued at approximately $25,926,000. Royal Bank of Canada raised its holdings in shares of Harsco by 3,391.6% in the first quarter. Royal Bank of Canada now owns 816,197 shares of the industrial products company’s stock valued at $5,689,000 after purchasing an additional 792,821 shares during the last quarter. Finally, Investment Counselors of Maryland LLC acquired a new stake in shares of Harsco in the first quarter valued at approximately $5,363,000. 90.72% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE HSC traded up $0.04 during mid-day trading on Monday, hitting $12.89. The company’s stock had a trading volume of 344,415 shares, compared to its average volume of 739,157. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 2.16 and a beta of 2.66. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.51 and a quick ratio of 1.14. Harsco has a one year low of $4.19 and a one year high of $27.27. The company’s fifty day simple moving average is $11.80 and its 200-day simple moving average is $12.94.

Harsco Company Profile

Harsco Corporation provides industrial services and engineered products worldwide. The company operates in three segments: Harsco Metals & Minerals, Harsco Industrial, and Harsco Rail. The Harsco Metals & Minerals segment provides on-site services of material logistics, product quality improvement, and resource recovery for iron, steel, and metals manufacturing; and value added environmental solutions for industrial co-products, as well as produces industrial abrasives and roofing granules.

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