B. Riley Comments on Horizon Global Corp’s FY2020 Earnings (NYSE:HZN)

Horizon Global Corp (NYSE:HZN) – Stock analysts at B. Riley dropped their FY2020 EPS estimates for Horizon Global in a note issued to investors on Wednesday, July 31st. B. Riley analyst J. Nichols now forecasts that the company will earn ($0.31) per share for the year, down from their prior estimate of ($0.30).

Other research analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Horizon Global from a “hold” rating to a “sell” rating in a research report on Saturday. Roth Capital reissued a “neutral” rating on shares of Horizon Global in a research note on Friday, May 24th. Finally, ValuEngine raised shares of Horizon Global from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st.

Shares of NYSE:HZN opened at $4.71 on Monday. Horizon Global has a 52-week low of $1.34 and a 52-week high of $8.50. The stock has a fifty day moving average of $4.14.

Horizon Global (NYSE:HZN) last announced its earnings results on Thursday, May 9th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.16). Horizon Global had a negative return on equity of 731.99% and a negative net margin of 20.35%. The company had revenue of $209.66 million during the quarter, compared to analysts’ expectations of $199.75 million.

In other Horizon Global news, Director Frederick A. Henderson purchased 15,000 shares of the stock in a transaction on Monday, May 13th. The stock was acquired at an average cost of $3.01 per share, with a total value of $45,150.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $30,100. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frederick A. Henderson purchased 10,000 shares of the stock in a transaction on Friday, May 10th. The stock was acquired at an average cost of $2.90 per share, with a total value of $29,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $29,000. The disclosure for this purchase can be found here. Insiders acquired 35,000 shares of company stock valued at $110,150 over the last three months. 10.23% of the stock is currently owned by insiders.

An institutional investor recently raised its position in Horizon Global stock. California Public Employees Retirement System boosted its holdings in Horizon Global Corp (NYSE:HZN) by 12.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 146,881 shares of the company’s stock after purchasing an additional 16,521 shares during the period. California Public Employees Retirement System owned approximately 0.58% of Horizon Global worth $210,000 at the end of the most recent reporting period. 41.87% of the stock is owned by hedge funds and other institutional investors.

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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