Three Contracts in Harsco's Kitty - Analyst Blog
10 7월 2012 - 8:30PM
Zacks
Harsco Corporation
(HSC), a world-renowned supplier of industrial services and
engineered products, recently declared winning of three prime
contracts for providing its scaffolding, shoring and formwork
solution services to the engineering and building projects in U.S.,
Germany and Austria. The awards are likely to strengthen the
company’s position towards becoming a leading service provider in
the engineering and construction industry.
AGRANA, a leading supplier of sugar
and customized starch products in Europe has awarded the first
contract to Harsco for constructing a wheat starch factory in the
northeast region of Austria. The company will seamlessly deploy its
rental formwork system for building several basins which are
required for AGRANA’s new plant.
Harsco has received its second
award from Dillinger Hutte GTS, a renowned manufacturer of steel
plate in Europe. According to this contract, the company will be
engaged in offering its engineered wall as well as slab formwork
services in a casting plant based in Germany. This contract win is
quite significant for both parties. Not only does it enhance
Dillinger Hutte’s goodwill in the market, but also offers Harsco a
major award, not to mention the profitable long-term alliance
formed between the companies.
The company has also been chosen by
Houston METRO for its light rail project in U.S. to extend its
construction support services for the restoration of Main Street
Bridge in Houston, Texas. Harsco’s specialized support services and
in time project delivery helped it win this contract.
Management was quite excited
regarding these wins by stating that these are the outcomes of
Harsco’s long-lasting reputation and unblemished goodwill which
helped it in expanding its businesses across regions constantly.
The company is estimating that these project wins will help it
produce nearly $2 million revenues in the coming quarters of fiscal
2012.
The company pertains to an
industry, where ominous competition is prevalent. Hence, Harsco
should stay cautious of big players, such as Hudson
Technologies, Inc. (HDSN), ScanSource,
Inc. (SCSC) and Aggreko plc (ARGKF).
The current Zacks Consensus
Estimates for the second quarter of fiscal 2012 and for fiscal 2012
are 35 cents per share and $1.33 per share, respectively. The
company currently retains a Zacks #4 Rank, which translates into a
short-term ‘Sell’ rating. We also have a long-term ‘Underperform’
recommendation on the company’s stock.
(ARGKF): ETF Research Reports
(HDSN): ETF Research Reports
HARSCO CORP (HSC): Free Stock Analysis Report
SCANSOURCE INC (SCSC): Free Stock Analysis Report
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Zacks Investment Research
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