Harsco Corporation (NYSE: HSC) spotted trading -8.67% off 52-week high price. On the other end, the stock has been noted 45.42% away from the low price over the last 52-weeks. The stock changed 0.15% to recent value of $27.44. The stock transacted 1004614 shares during most recent day however it has an average volume of 490.93K shares. The company has 81.94M of outstanding shares and 78.98M shares were floated in the market.
Harsco Corporation (NYSE: HSC) reported that it has completed its previously announced acquisition of Clean Earth (Clean Earth).
With the Clean Earth acquisition, Harsco gains entry into adjacent, high-margin environmental services markets with significant regulatory barriers to entry and the immediate scale and enhanced capabilities to support the Company’s customers with the processing and reuse of contaminated materials, hazardous waste and dredged materials. As one of the largest specialty waste processing companies in the U.S., Clean Earth provides processing and beneficial reuse solutions for hazardous wastes, contaminated materials and dredged volumes through its more than 27 facilities, including nine Treatment, Storage and Disposal Facilities (TSDF’s), and portfolio of more than 200 permits. Harsco expects the impact of this transaction to be accretive to the Company’s long-term financial targets.
We are pleased to complete this transaction, which marks a significant step in our portfolio transformation strategy into a leading provider of environmental solutions, said Harsco Chairman and CEO Nick Grasberger. Our entrance into specialty waste processing, combined with our previously announced intended divestiture of Harsco’s Industrial segment businesses, will reduce portfolio complexity and shift our focus to less cyclical, higher-growth and higher-margin businesses. We are confident that our shareholders and our customers will benefit from the recurring revenue streams, access to a highly-regulated growth market, cross-selling opportunities and international growth potential within the industrial waste sector provided by this acquisition.
The Company also recently announced that it had completed a $500 million offering of 5.75% eight-year senior unsecured notes due 2027, as well as an increase and extension to its existing revolving credit facility. Under the amendments, the revolving credit commitments increased by $200 million to $700 million, with an extension to 2024. As previously announced on May 9, the Company has entered into a definitive agreement to sell its Air-X-Changers business to Chart Industries for $592 million in cash, subject to post-closing adjustments. The Company intends to use proceeds from the divestiture of its Air-X-Changers business to pay down debt, and to continue investing in new innovation and growth opportunities. The Air-X-Changers divestiture is expected to close on July 1, 2019. As a result of these transactions, the Company is strategically well positioned with a strengthened balance sheet and increased liquidity. Its earnings per share (EPS) expected to touch remained 113.60% for this year while earning per share for the next 5-years is expected to reach at 20.00%. HSC has a gross margin of 25.30% and an operating margin of 10.90% while its profit margin remained 7.90% for the last 12 months.
According to the most recent quarter its current ratio was 1.5 that represents company’s ability to meet its current financial obligations. The price moved ahead of 2.49% from the mean of 20 days, 9.50% from mean of 50 days SMA and performed 14.52% from mean of 200 days price. Company’s performance for the week was 2.93%, 6.73% for month and YTD performance remained 38.17%.
Category – Business
After many years in the market, Charles Frey dedicated all his time to write articles highlighting different financial problems. He has worked as financial analyst until his retirement. He is a well-known research director and portfolio manager for more than 5 years.
Charles holds a postgraduate degree in Software Engineering. ‘The stock market is filled with individuals who know the price of everything, but the value of nothing.’ Charles is a share market expert, being personally invested for over 6 years. He has been writing his entire life, and while he has made a career of business and finance reporting, he still enjoys writing short stories and poetry.
Address: 2520 North Van Buren Street, Wilmington, DE 19802, USA
Email: [email protected]
Zip code: 19802
Contact # 302-298-6858