Heritage Global Inc reports results for the quarter ended March 31 - Earnings Summary

• Heritage Global Inc HGBL.OQ reported quarterly adjusted earnings of 3 cents​​ per share for the quarter ended March 31, lower than the same quarter last year, when the company reported EPS of 5 cents. The mean expectation of four analysts for the quarter was for earnings of 4 cents per share. Wall Street expected results to range from 3 cents to 4 cents per share.

• Revenue rose 10.7% to $13.46 million from a year ago; analysts expected $11.91 million.

• Heritage Global Inc's reported EPS for the quarter was 3 cents​.

• The company reported quarterly net income of $1.06 million.

• Heritage Global Inc shares had fallen by 9.4% this quarter and gained 6.8% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 19.6% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "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 $3.60

This summary was machine generated from LSEG data May 8 at 09:01 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)