Harsco (NYSE:HSC) Releases FY22 Earnings Guidance

Harsco (NYSE:HSCGet Rating) issued an update on its FY22 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.35-$0.44 for the period, compared to the Thomson Reuters consensus estimate of $0.57. Harsco also updated its Q2 guidance to $0.07-$0.11 EPS.

Shares of HSC opened at $10.28 on Tuesday. The stock has a 50-day simple moving average of $12.11 and a 200-day simple moving average of $14.65. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.34 and a current ratio of 1.45. The stock has a market capitalization of $814.38 million, a PE ratio of -256.94, a PEG ratio of 1.85 and a beta of 1.97. Harsco has a 1 year low of $10.01 and a 1 year high of $23.73.

Harsco (NYSE:HSCGet Rating) last announced its quarterly earnings data on Thursday, February 24th. The industrial products company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.15. The business had revenue of $462.00 million during the quarter, compared to analysts’ expectations of $446.18 million. Harsco had a positive return on equity of 9.05% and a negative net margin of 0.15%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.12 EPS. Analysts predict that Harsco will post 0.55 EPS for the current year.

HSC has been the subject of several recent analyst reports. StockNews.com initiated coverage on Harsco in a research note on Thursday, March 31st. They set a hold rating for the company. Zacks Investment Research cut Harsco from a hold rating to a sell rating in a research note on Tuesday, March 1st. Finally, DA Davidson initiated coverage on Harsco in a research note on Wednesday, March 30th. They set a buy rating and a $18.00 target price for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and an average target price of $21.75.

In other news, CEO F Nicholas Grasberger III acquired 25,000 shares of Harsco stock in a transaction on Monday, February 28th. The stock was bought at an average price of $11.92 per share, for a total transaction of $298,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.91% of the stock is currently owned by insiders.

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

Harsco Company Profile (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.

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