Harsco Co. (NYSE:HSC)’s share price dropped 8.9% during mid-day trading on Friday . The company traded as low as $19.92 and last traded at $20.01. Approximately 1,319,391 shares changed hands during trading, an increase of 135% from the average daily volume of 562,269 shares. The stock had previously closed at $21.97.
HSC has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Harsco from a “sell” rating to a “hold” rating in a research report on Tuesday, March 5th. Singular Research reiterated a “buy” rating on shares of Harsco in a research report on Thursday, March 7th. Finally, ValuEngine downgraded Harsco from a “hold” rating to a “sell” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Harsco currently has a consensus rating of “Hold” and a consensus target price of $30.50.
The stock has a market capitalization of $1.60 billion, a PE ratio of 15.27 and a beta of 2.51. The company has a debt-to-equity ratio of 1.87, a current ratio of 1.45 and a quick ratio of 1.13.
Harsco (NYSE:HSC) last issued its quarterly earnings results on Thursday, February 21st. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.04. The company had revenue of $437.90 million for the quarter, compared to the consensus estimate of $437.23 million. Harsco had a return on equity of 38.66% and a net margin of 7.96%. Harsco’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.20 earnings per share. On average, analysts expect that Harsco Co. will post 1.4 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in HSC. Norges Bank purchased a new position in shares of Harsco in the fourth quarter valued at approximately $29,637,000. Oregon Public Employees Retirement Fund purchased a new position in shares of Harsco in the fourth quarter valued at approximately $31,000. Teachers Advisors LLC lifted its position in shares of Harsco by 163.6% in the third quarter. Teachers Advisors LLC now owns 784,334 shares of the industrial products company’s stock valued at $22,393,000 after acquiring an additional 486,799 shares in the last quarter. 1060 Capital LLC purchased a new position in shares of Harsco in the third quarter valued at approximately $13,013,000. Finally, BlackRock Inc. lifted its position in shares of Harsco by 4.0% in the third quarter. BlackRock Inc. now owns 11,572,319 shares of the industrial products company’s stock valued at $330,390,000 after acquiring an additional 444,922 shares in the last quarter. Institutional investors and hedge funds own 83.87% of the company’s stock.
Harsco Company Profile (NYSE:HSC)
Harsco Corporation provides industrial services and engineered products worldwide. The company operates in three segments: Harsco Metals & Minerals, Harsco Industrial, and Harsco Rail. The Harsco Metals & Minerals segment provides on-site services of material logistics, product quality improvement, and resource recovery for iron, steel, and metals manufacturing; and value added environmental solutions for industrial co-products, as well as produces industrial abrasives and roofing granules.
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