Heritage Global Inc reports results for the quarter ended June 30 - Earnings Summary

• Heritage Global Inc HGBL.OQ reported quarterly adjusted earnings of 5 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of 7 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 6 cents per share.

• Revenue rose 19% to $14.30 million from a year ago; analysts expected $12.35 million.

• Heritage Global Inc's reported EPS for the quarter was 5 cents​.

• The company reported quarterly net income of $1.64 million.

• Heritage Global Inc shares had fallen by 6.3% this quarter and gained 12.4% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 6.3% 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, about 42.2% above its last closing price of $2.08

This summary was machine generated from LSEG data August 8 at 06:26 a.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)