Houghton Mifflin Harcourt (NASDAQ:HMHC) Stock Rating Lowered by Zacks Investment Research

Houghton Mifflin Harcourt (NASDAQ:HMHC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Houghton Mifflin Harcourt Company is a global provider of education solutions, delivering content, technology, services and media to students in over 150 countries worldwide. The Company delivers its offerings to both educational institutions and consumers. It provides kindergarten through twelfth grade, or K-12, educational content in the United States. The Company, through its subsidiary, provides print and electronic textbook curriculum, learning content, and assessment tools and services. Houghton Mifflin Harcourt Company is headquartered in Boston, Massachusetts. “

Several other analysts have also recently commented on the stock. ValuEngine upgraded shares of Houghton Mifflin Harcourt from a “sell” rating to a “hold” rating in a report on Friday, September 20th. BMO Capital Markets decreased their price target on shares of Houghton Mifflin Harcourt from $8.00 to $7.00 and set an “outperform” rating for the company in a report on Friday, October 18th. BidaskClub upgraded shares of Houghton Mifflin Harcourt from a “sell” rating to a “hold” rating in a report on Saturday. Morgan Stanley cut their price objective on shares of Houghton Mifflin Harcourt from $7.00 to $6.50 and set an “equal weight” rating on the stock in a research report on Thursday, September 5th. Finally, Citigroup cut their price objective on shares of Houghton Mifflin Harcourt from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $6.75.

HMHC stock opened at $6.35 on Wednesday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.80 and a current ratio of 1.26. The stock has a market cap of $727.25 million, a P/E ratio of -5.99 and a beta of 0.87. The firm has a 50 day simple moving average of $5.42 and a 200 day simple moving average of $5.98. Houghton Mifflin Harcourt has a 52 week low of $4.49 and a 52 week high of $10.64.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last posted its quarterly earnings results on Thursday, August 8th. The business services provider reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $388.90 million during the quarter, compared to analysts’ expectations of $399.91 million. Houghton Mifflin Harcourt had a negative net margin of 9.46% and a negative return on equity of 16.39%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the company posted ($0.19) earnings per share. Sell-side analysts predict that Houghton Mifflin Harcourt will post -1.36 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of HMHC. BlackRock Inc. raised its position in shares of Houghton Mifflin Harcourt by 0.8% in the second quarter. BlackRock Inc. now owns 7,014,854 shares of the business services provider’s stock valued at $40,405,000 after purchasing an additional 54,797 shares during the period. Invesco Ltd. increased its position in Houghton Mifflin Harcourt by 974.2% during the second quarter. Invesco Ltd. now owns 3,160,302 shares of the business services provider’s stock worth $18,204,000 after acquiring an additional 2,866,103 shares during the period. Wells Fargo & Company MN increased its position in Houghton Mifflin Harcourt by 13.6% during the second quarter. Wells Fargo & Company MN now owns 3,111,879 shares of the business services provider’s stock worth $17,925,000 after acquiring an additional 373,189 shares during the period. Nuveen Asset Management LLC bought a new position in Houghton Mifflin Harcourt during the second quarter worth $9,684,000. Finally, Peregrine Capital Management LLC increased its position in Houghton Mifflin Harcourt by 3.4% during the third quarter. Peregrine Capital Management LLC now owns 1,597,598 shares of the business services provider’s stock worth $8,515,000 after acquiring an additional 52,793 shares during the period. 95.56% of the stock is currently owned by hedge funds and other institutional investors.

Houghton Mifflin Harcourt Company Profile

Houghton Mifflin Harcourt Company, a learning company, provides curriculum, supplemental, and intervention solutions; and professional learning services worldwide. The company operates in two segments, Education and Trade Publishing. The Education segment provides educational products, technology platforms, and services, including print and digital content in the form of textbooks, digital courseware, instructional aids, educational assessment, and intervention solutions for students.

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