Houghton Mifflin Harcourt Co (NASDAQ:HMHC) has earned an average rating of “Hold” from the seven research firms that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $7.17.
Several brokerages have weighed in on HMHC. ValuEngine upgraded Houghton Mifflin Harcourt from a “sell” rating to a “hold” rating in a report on Friday, September 20th. BMO Capital Markets cut their price target on Houghton Mifflin Harcourt from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. Morgan Stanley decreased their target price on Houghton Mifflin Harcourt from $7.00 to $6.50 and set an “equal weight” rating for the company in a research note on Thursday, September 5th. Zacks Investment Research downgraded Houghton Mifflin Harcourt from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Finally, BidaskClub cut shares of Houghton Mifflin Harcourt from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th.
A number of hedge funds and other institutional investors have recently modified their holdings of HMHC. Millennium Management LLC purchased a new position in shares of Houghton Mifflin Harcourt during the third quarter worth approximately $1,727,000. California State Teachers Retirement System increased its stake in Houghton Mifflin Harcourt by 1.2% in the third quarter. California State Teachers Retirement System now owns 162,701 shares of the business services provider’s stock valued at $867,000 after purchasing an additional 1,943 shares during the period. State Street Corp increased its stake in Houghton Mifflin Harcourt by 0.9% in the third quarter. State Street Corp now owns 2,167,245 shares of the business services provider’s stock valued at $11,551,000 after purchasing an additional 18,920 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Houghton Mifflin Harcourt by 656.9% in the third quarter. Tower Research Capital LLC TRC now owns 7,259 shares of the business services provider’s stock valued at $39,000 after buying an additional 6,300 shares during the last quarter. Finally, Wedge Capital Management L L P NC purchased a new stake in shares of Houghton Mifflin Harcourt in the third quarter valued at about $96,000. Institutional investors own 95.53% of the company’s stock.
Houghton Mifflin Harcourt stock traded down $0.19 during midday trading on Tuesday, reaching $5.79. 407,759 shares of the stock traded hands, compared to its average volume of 711,642. The company has a 50-day simple moving average of $5.98 and a two-hundred day simple moving average of $5.71. Houghton Mifflin Harcourt has a 12-month low of $4.49 and a 12-month high of $10.64. The firm has a market cap of $729.82 million, a PE ratio of -5.46 and a beta of 0.87. The company has a current ratio of 1.63, a quick ratio of 1.28 and a debt-to-equity ratio of 1.30.
Houghton Mifflin Harcourt (NASDAQ:HMHC) last issued its quarterly earnings results on Thursday, October 31st. The business services provider reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.07). Houghton Mifflin Harcourt had a negative return on equity of 19.29% and a negative net margin of 10.34%. The business had revenue of $565.67 million for the quarter, compared to analysts’ expectations of $581.22 million. During the same quarter last year, the company earned $0.68 earnings per share. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities research analysts anticipate that Houghton Mifflin Harcourt will post -1.68 earnings per share for the current year.
About Houghton Mifflin Harcourt
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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