Houghton Mifflin Harcourt (NASDAQ:HMHC) was upgraded by equities researchers at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research note issued to investors on Tuesday, The Fly reports.
Several other equities research analysts have also recently weighed in on HMHC. ValuEngine upgraded shares of Houghton Mifflin Harcourt from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 2nd. BidaskClub cut shares of Houghton Mifflin Harcourt from a “hold” rating to a “sell” rating in a research note on Friday. Wells Fargo & Co increased their target price on shares of Houghton Mifflin Harcourt from $12.00 to $13.00 and gave the company an “outperform” rating in a research note on Wednesday, June 27th. Stifel Nicolaus reiterated a “hold” rating and issued a $7.50 target price (down previously from $8.00) on shares of Houghton Mifflin Harcourt in a research note on Friday, August 3rd. Finally, Morgan Stanley reduced their target price on shares of Houghton Mifflin Harcourt from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Friday, August 3rd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Houghton Mifflin Harcourt currently has a consensus rating of “Hold” and a consensus target price of $9.94.
NASDAQ HMHC opened at $5.69 on Tuesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.05 and a quick ratio of 0.66. Houghton Mifflin Harcourt has a twelve month low of $5.10 and a twelve month high of $11.95. The stock has a market capitalization of $864.88 million, a P/E ratio of -4.55 and a beta of 0.46.
Houghton Mifflin Harcourt (NASDAQ:HMHC) last released its earnings results on Thursday, August 2nd. The business services provider reported ($0.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.14). Houghton Mifflin Harcourt had a negative net margin of 4.35% and a negative return on equity of 14.89%. The company had revenue of $375.58 million during the quarter, compared to the consensus estimate of $386.20 million. During the same quarter in the previous year, the business posted ($0.38) EPS. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Houghton Mifflin Harcourt will post -0.94 earnings per share for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James & Associates lifted its stake in Houghton Mifflin Harcourt by 9.4% during the second quarter. Raymond James & Associates now owns 155,431 shares of the business services provider’s stock worth $1,189,000 after purchasing an additional 13,318 shares during the period. OppenheimerFunds Inc. lifted its stake in Houghton Mifflin Harcourt by 0.7% during the first quarter. OppenheimerFunds Inc. now owns 1,959,648 shares of the business services provider’s stock worth $13,620,000 after purchasing an additional 13,755 shares during the period. MetLife Investment Advisors LLC lifted its stake in Houghton Mifflin Harcourt by 39.8% during the second quarter. MetLife Investment Advisors LLC now owns 48,710 shares of the business services provider’s stock worth $373,000 after purchasing an additional 13,857 shares during the period. Verition Fund Management LLC bought a new position in Houghton Mifflin Harcourt during the second quarter worth about $113,000. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in Houghton Mifflin Harcourt during the second quarter worth about $116,000. Hedge funds and other institutional investors own 95.53% of the company’s stock.
About Houghton Mifflin Harcourt
Houghton Mifflin Harcourt Company, a learning company, provides content, services, and technology solutions for educational institutions and consumers 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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