Jefferies Group Brokers Trimmed Revenue Estimation for Harsco Co. (HSC)

Jefferies Group Brokers Trimmed Revenue Estimation for Harsco Co. (HSC)

Harsco Co. (NYSE:HSC) – Jefferies Group cut their Q2 2017 earnings per share (EPS) estimates for Harsco in a report issued on Monday. Jefferies Group analyst B. Bohra now forecasts that the brokerage will post earnings of $0.14 per share for the quarter, down from their prior estimate of $0.17. Jefferies Group currently has a “Buy” rating and a $15.00 target price on the stock. Jefferies Group also issued estimates for Harsco’s Q3 2017 earnings at $0.15 EPS and FY2018 earnings at $0.59 EPS.

Other equities analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Harsco from a “sell” rating to a “hold” rating in a research report on Monday. KeyCorp increased their price objective on shares of Harsco from $12.00 to $16.00 and gave the company an “overweight” rating in a research report on Tuesday, November 29th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Harsco currently has a consensus rating of “Buy” and a consensus target price of $15.00.

Shares of Harsco (NYSE:HSC) opened at 12.40 on Tuesday. The stock’s market capitalization is $994.26 million. The stock has a 50 day moving average of $13.48 and a 200 day moving average of $12.15. Harsco has a 52-week low of $5.00 and a 52-week high of $15.25.

Harsco (NYSE:HSC) last posted its earnings results on Friday, February 24th. The company reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.07. Harsco had a negative net margin of 5.21% and a positive return on equity of 11.33%. The firm earned $360 million during the quarter, compared to analysts’ expectations of $357.07 million. During the same period last year, the company posted $0.11 EPS. The company’s quarterly revenue was down 7.0% compared to the same quarter last year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Capstone Asset Management Co. raised its position in Harsco by 1.4% in the third quarter. Capstone Asset Management Co. now owns 22,410 shares of the company’s stock valued at $223,000 after buying an additional 320 shares during the period. Municipal Employees Retirement System of Michigan raised its position in Harsco by 1.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 17,750 shares of the company’s stock valued at $176,000 after buying an additional 320 shares during the period. US Bancorp DE raised its position in Harsco by 1.0% in the third quarter. US Bancorp DE now owns 35,125 shares of the company’s stock valued at $349,000 after buying an additional 333 shares during the period. Eagle Boston Investment Management Inc. raised its position in Harsco by 1.0% in the third quarter. Eagle Boston Investment Management Inc. now owns 64,913 shares of the company’s stock valued at $644,000 after buying an additional 673 shares during the period. Finally, Royal Bank of Canada raised its position in Harsco by 1.5% in the second quarter. Royal Bank of Canada now owns 92,754 shares of the company’s stock valued at $616,000 after buying an additional 1,415 shares during the period. Institutional investors and hedge funds own 82.36% of the company’s stock.

Harsco Company Profile

Harsco Corporation is a provider of industrial services and engineered products serving global industries. The Company operates in three segments: Harsco Metals & Minerals, Harsco Industrial and Harsco Rail. Its Harsco Metals & Minerals segment is a provider of on-site, outsourced services to the metals industries across the world.

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