Heritage Global (NASDAQ:HGBL) Issues Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Heritage Global (NASDAQ:HGBLGet Free Report) issued its quarterly earnings data on Thursday. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.06), Zacks reports. Heritage Global had a net margin of 20.60% and a return on equity of 16.05%. The company had revenue of $10.77 million for the quarter, compared to analysts’ expectations of $12.30 million.

Heritage Global Stock Up 12.9 %

HGBL opened at $2.36 on Friday. The stock has a market cap of $88.12 million, a PE ratio of 8.43 and a beta of 1.22. The business has a 50 day moving average of $2.11 and a 200-day moving average of $1.83. Heritage Global has a 52 week low of $1.52 and a 52 week high of $3.02.

Wall Street Analyst Weigh In

Separately, Lake Street Capital reduced their price target on shares of Heritage Global from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday.

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About Heritage Global

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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.

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Earnings History for Heritage Global (NASDAQ:HGBL)

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