Harsco Corporation (NYSE:HSC) Trading 6.8% Higher on Better-Than-Expected Earnings

Harsco Corporation (NYSE:HSC)’s share price traded up 6.8% on Thursday following a better than expected earnings announcement. The stock traded as high as $16.85 and last traded at $16.60, with a volume of 890,738 shares changing hands. The stock had previously closed at $15.55.

The industrial products company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.05. Harsco Corporation had a negative net margin of 1.38% and a positive return on equity of 26.28%. The firm had revenue of $394.89 million during the quarter, compared to analyst estimates of $384.40 million. During the same period last year, the firm posted $0.15 earnings per share. Harsco Corporation’s revenue for the quarter was up 6.7% compared to the same quarter last year.

A number of research analysts recently weighed in on the stock. BidaskClub raised shares of Harsco Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 13th. Zacks Investment Research lowered shares of Harsco Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, KeyCorp reissued an “overweight” rating and issued a $19.00 target price (up from $17.50) on shares of Harsco Corporation in a report on Monday, June 26th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Harsco Corporation presently has a consensus rating of “Buy” and an average target price of $17.00.

In related news, SVP Scott H. Gerson sold 6,706 shares of the firm’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $15.10, for a total value of $101,260.60. Following the completion of the sale, the senior vice president now directly owns 32,125 shares in the company, valued at $485,087.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.76% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of HSC. Federated Investors Inc. PA increased its stake in shares of Harsco Corporation by 1.7% in the second quarter. Federated Investors Inc. PA now owns 7,678 shares of the industrial products company’s stock worth $124,000 after buying an additional 132 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Harsco Corporation by 2.0% in the first quarter. State of Alaska Department of Revenue now owns 8,850 shares of the industrial products company’s stock worth $112,000 after buying an additional 170 shares in the last quarter. Invictus RG bought a new stake in shares of Harsco Corporation during the first quarter worth about $120,000. Fox Run Management L.L.C. bought a new stake in shares of Harsco Corporation during the second quarter worth about $167,000. Finally, Quantbot Technologies LP bought a new stake in shares of Harsco Corporation during the first quarter worth about $147,000. Institutional investors own 82.55% of the company’s stock.

The company’s market capitalization is $1.34 billion. The stock has a 50 day moving average price of $16.05 and a 200 day moving average price of $14.22.

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Harsco Corporation Company Profile

Harsco Corporation is a provider of industrial services and engineered products. The Company operates in three segments: Harsco Metals & Minerals, Harsco Industrial and Harsco Rail. The Harsco Metals & Minerals segment provides outsourced on-site services to the global metals industry, with the operations focused in the United States, the United Kingdom, France and Brazil.