Harsco Co. (NYSE:HSC – Get Rating) – Research analysts at KeyCorp lowered their Q3 2022 earnings per share (EPS) estimates for shares of Harsco in a note issued to investors on Tuesday, August 2nd. KeyCorp analyst J. Hammond now expects that the industrial products company will earn ($0.02) per share for the quarter, down from their previous forecast of $0.10. The consensus estimate for Harsco’s current full-year earnings is ($0.06) per share. KeyCorp also issued estimates for Harsco’s Q4 2022 earnings at ($0.01) EPS and FY2022 earnings at ($0.03) EPS.
Several other equities analysts have also recently commented on the company. TheStreet cut Harsco from a “c-” rating to a “d” rating in a report on Friday, May 13th. BMO Capital Markets started coverage on Harsco in a report on Tuesday, July 12th. They issued a “market perform” rating for the company. Barrington Research dropped their target price on Harsco from $20.00 to $13.00 and set an “outperform” rating for the company in a report on Monday, July 18th. Finally, DA Davidson dropped their target price on Harsco from $16.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, July 20th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Harsco currently has a consensus rating of “Hold” and a consensus price target of $13.00.
Harsco Trading Up 9.0 %
Harsco (NYSE:HSC – Get Rating) last announced its earnings results on Tuesday, August 2nd. The industrial products company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The firm had revenue of $481.10 million during the quarter, compared to the consensus estimate of $465.78 million. Harsco had a positive return on equity of 4.51% and a negative net margin of 8.36%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.28 EPS.
Hedge Funds Weigh In On Harsco
A number of hedge funds have recently modified their holdings of HSC. Yousif Capital Management LLC acquired a new position in Harsco in the fourth quarter worth $1,181,000. Assenagon Asset Management S.A. bought a new position in shares of Harsco in the fourth quarter valued at about $803,000. FDx Advisors Inc. raised its holdings in shares of Harsco by 18.8% in the fourth quarter. FDx Advisors Inc. now owns 21,466 shares of the industrial products company’s stock valued at $359,000 after buying an additional 3,399 shares during the last quarter. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income raised its holdings in shares of Harsco by 18.3% in the fourth quarter. MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income now owns 393,237 shares of the industrial products company’s stock valued at $6,571,000 after buying an additional 60,940 shares during the last quarter. Finally, Royce & Associates LP bought a new position in shares of Harsco in the fourth quarter valued at about $328,000. 95.61% of the stock is owned by institutional investors and hedge funds.
Harsco Company Profile
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.
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