Heritage Global (NASDAQ:HGBL) Releases Earnings Results, Misses Estimates By $0.06 EPS

Heritage Global (NASDAQ:HGBL - Get Free Report) announced its quarterly earnings results on Thursday. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.06), Zacks reports. The firm had revenue of $10.77 million during the quarter, compared to analyst estimates of $12.30 million. Heritage Global had a net margin of 20.60% and a return on equity of 16.05%.

Heritage Global Price Performance

HGBL traded up $0.01 during trading on Wednesday, reaching $2.31. The company had a trading volume of 17,084 shares, compared to its average volume of 75,610. The business's fifty day moving average price is $2.12 and its 200 day moving average price is $1.84. Heritage Global has a 12 month low of $1.52 and a 12 month high of $2.89. The company has a market cap of $86.26 million, a P/E ratio of 8.25 and a beta of 1.22.

Analysts Set New Price Targets

Separately, Lake Street Capital lowered their price target on Heritage Global from $5.00 to $4.00 and set a "buy" rating for the company in a report on Friday, March 14th.

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.