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Market Insight: Big Demand for Harsco Corporation's Services Author:Jeff Neal Date:03/25/14 Click:

Harsco Corporation is a diversified, multinational provider of industrial services and engineered products. The company's operations fall into three segments: Mill Services, Access Services and Gas Technologies, and an all other category labeled Engineered Products and Services. Harsco is a $4.6 billion industrial services company serving the construction, mining and railroad industries.

The company was actually founded in 1742 and, given that industrial services are so valuable to a properly functioning economy, they have one of the biggest footprints in their particular sector. Currently over 85 percent of the company’s $3.6 billion in annual revenue emanate from its services divisions. One of the reasons this stock looks attractive right now is that there is billions of dollars worth of new infrastructure and construction projects planned and underway around the globe.

In addition, Harsco has a big presence in China, which has a big demand for infrastructure services of all types. In fact, just recently the Chinese Ministry of Railways gave Harsco’s Track Technologies division the largest contract in its history, worth an estimated $350 million dollars over the four-year life of the contract. This will certainly be a big boost to revenues.  

Fundamentally, the stock is very strong with a solid earnings growth, sales growth and a superb return on equity. The latest earnings showed revenues increasing 11 percent and net income increasing over 38 percent versus the same quarter the previous year. This represented the 11th straight quarter where the company has exceeded analysts’ estimates.

Technically, using a weekly chart, the stock is very solid and is in distinct Elliott Wave-4 buy formation forecasting gains into the $79 per share over the next 12 months. The company has an options market that currently extends out to July of 2008. There are no LEAPS offered.

Figure 1:  Elliott Wave-4 Buy Pattern for Harsco Corporation
(Source: Profit Source)

Happy Trading.

Jeff Neal
Senior Writer, Options Strategist & Profit Strategies Radio Show Market Correspondent
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