Heritage Global (NASDAQ:HGBL) Issues Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Heritage Global (NASDAQ:HGBL) released its earnings results on Thursday. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03), Zacks reports. Heritage Global had a return on equity of 5.47% and a net margin of 7.33%.The firm had revenue of $11.36 million for the quarter, compared to the consensus estimate of $13.07 million.

Heritage Global Price Performance

Shares of NASDAQ:HGBL traded down $0.13 during midday trading on Friday, reaching $1.30. 403,084 shares of the company were exchanged, compared to its average volume of 64,556. The stock has a market cap of $45.16 million, a PE ratio of 13.00 and a beta of 0.56. The business’s fifty day moving average is $1.65 and its two-hundred day moving average is $1.94. Heritage Global has a one year low of $1.24 and a one year high of $2.39. The company has a current ratio of 2.05, a quick ratio of 1.69 and a debt-to-equity ratio of 0.06.

Wall Street Analysts Forecast Growth

HGBL has been the subject of a number of analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Heritage Global in a research note on Wednesday, October 8th. Zacks Research raised shares of Heritage Global to a “hold” rating in a report on Thursday, September 4th. Finally, Singular Research raised Heritage Global to a “strong-buy” rating in a report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $4.00.

Institutional Investors Weigh In On Heritage Global

A hedge fund recently bought a new stake in Heritage Global stock. Evergreen Capital Management LLC purchased a new stake in shares of Heritage Global Inc. (NASDAQ:HGBL) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,878 shares of the company’s stock, valued at approximately $26,000. Institutional investors and hedge funds own 33.46% of the company’s stock.

About Heritage Global

Heritage Global Inc, together with its subsidiaries, operates as an asset services company with focus on financial and industrial asset transactions. The company operates in three segments: Auction and Liquidation, Refurbishment & Resale, and Brokerage. It provides a suite of market making, acquisitions, refurbishment, dispositions, valuations, and secured lending services.