Heritage Global Inc reports results for the quarter ended in June - Earnings Summary

Heritage Global

08/08/2024 22:42

* Heritage Global Inc  HGBL.OQ  reported quarterly adjusted
earnings of 7 cents​​ per share for the quarter ended in June,
identical to the same quarter last year.  The mean expectation
of three analysts for the quarter was for earnings of 7 cents
per share. Wall Street expected results to range from 6 cents
to 8 cents per share.
    * Revenue fell 8.2% to $12.02 million from a year ago;
analysts
expected $14.15 million. 
    * Heritage Global Inc's reported EPS for the quarter was 7
cents​.
    * The company reported quarterly net income of $2.5 million.
    * Heritage Global Inc shares had fallen by 4.1% this
quarter and
lost 15.1% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 19.2%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the investment
management & fund operators peer group is also "buy"

Wall Street's median 12-month price target for Heritage Global
Inc is $5.00 
This summary was machine generated from LSEG data August 8 at
09:42 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.07           0.07           Met
 Mar. 31 2024      0.06           0.05           Missed
 Dec. 31 2023      0.07           0.13           Beat
 Sep. 30 2023      0.07           0.05           Missed