Harsco (NYSE:HSC) Issues Quarterly Earnings Results

Harsco (NYSE:HSCGet Rating) released its quarterly earnings results on Tuesday. The industrial products company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.05), MarketWatch Earnings reports. Harsco had a positive return on equity of 9.05% and a negative net margin of 0.15%. The business had revenue of $452.80 million during the quarter, compared to the consensus estimate of $447.22 million. During the same quarter in the previous year, the business posted $0.15 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. Harsco updated its FY22 guidance to $0.35-$0.44 EPS and its Q2 guidance to $0.07-$0.11 EPS.

HSC traded down $2.26 during trading on Tuesday, hitting $8.02. 45,979 shares of the company traded hands, compared to its average volume of 338,268. The company has a market cap of $635.34 million, a PE ratio of -196.45, a P/E/G ratio of 1.85 and a beta of 1.97. The stock’s 50-day simple moving average is $12.11 and its two-hundred day simple moving average is $14.65. Harsco has a 1 year low of $10.01 and a 1 year high of $23.73. The company has a current ratio of 1.45, a quick ratio of 1.34 and a debt-to-equity ratio of 1.69.

Several brokerages have recently commented on HSC. Zacks Investment Research downgraded shares of Harsco from a “hold” rating to a “sell” rating in a research report on Tuesday, March 1st. StockNews.com began coverage on shares of Harsco in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, DA Davidson began coverage on shares of Harsco in a research report on Wednesday, March 30th. They set a “buy” rating and a $18.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $21.75.

In other Harsco news, CEO F Nicholas Grasberger III acquired 25,000 shares of the company’s stock in a transaction on Monday, February 28th. The stock was acquired at an average cost of $11.92 per share, with a total value of $298,000.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.91% of the company’s stock.

Several large investors have recently modified their holdings of the business. Metropolitan Life Insurance Co NY grew its stake in shares of Harsco by 3.5% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 19,697 shares of the industrial products company’s stock worth $329,000 after buying an additional 664 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Harsco by 16.5% during the 4th quarter. Public Employees Retirement System of Ohio now owns 6,705 shares of the industrial products company’s stock worth $112,000 after purchasing an additional 949 shares during the period. California State Teachers Retirement System boosted its stake in shares of Harsco by 2.8% during the 4th quarter. California State Teachers Retirement System now owns 109,969 shares of the industrial products company’s stock worth $1,838,000 after purchasing an additional 3,016 shares during the period. Geode Capital Management LLC boosted its stake in shares of Harsco by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 1,322,746 shares of the industrial products company’s stock worth $22,103,000 after purchasing an additional 6,298 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of Harsco by 3.0% during the 4th quarter. Legal & General Group Plc now owns 229,900 shares of the industrial products company’s stock worth $3,842,000 after purchasing an additional 6,632 shares during the period. 95.61% of the stock is owned by institutional investors and hedge funds.

About Harsco (Get Rating)

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.

Further Reading

Earnings History for Harsco (NYSE:HSC)

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