Houghton Mifflin Harcourt Company (HMHC) Upgraded to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Houghton Mifflin Harcourt Company (NASDAQ:HMHC) from a sell rating to a hold rating in a research note issued to investors on Friday morning.
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. “
A number of other research analysts have also recently issued reports on HMHC. BMO Capital Markets raised their price target on shares of Houghton Mifflin Harcourt from $10.00 to $13.00 and gave the stock a market perform rating in a report on Friday, May 5th. BidaskClub cut shares of Houghton Mifflin Harcourt from a buy rating to a hold rating in a report on Friday, June 16th. Finally, Stifel Nicolaus reissued a hold rating and set a $12.50 target price on shares of Houghton Mifflin Harcourt in a report on Monday, July 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Houghton Mifflin Harcourt presently has a consensus rating of Hold and an average target price of $16.90.
Shares of Houghton Mifflin Harcourt (NASDAQ HMHC) remained flat at $11.15 during midday trading on Friday. 1,539,350 shares of the company’s stock were exchanged. Houghton Mifflin Harcourt has a 52 week low of $9.15 and a 52 week high of $16.18. The firm’s 50 day moving average price is $11.92 and its 200-day moving average price is $11.48. The stock’s market capitalization is $1.38 billion.
Houghton Mifflin Harcourt (NASDAQ:HMHC) last posted its quarterly earnings results on Thursday, August 3rd. The business services provider reported ($0.20) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.03. The business had revenue of $393.05 million during the quarter, compared to analysts’ expectations of $387.68 million. Houghton Mifflin Harcourt had a negative net margin of 18.60% and a negative return on equity of 16.14%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter last year, the company posted ($0.23) earnings per share. Analysts forecast that Houghton Mifflin Harcourt will post ($1.63) EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently modified their holdings of the company. OxFORD Asset Management LLP acquired a new position in shares of Houghton Mifflin Harcourt during the second quarter valued at about $532,000. Dimensional Fund Advisors LP boosted its position in shares of Houghton Mifflin Harcourt by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 3,353,286 shares of the business services provider’s stock valued at $41,245,000 after buying an additional 131,661 shares during the period. Rivulet Capital LLC boosted its position in shares of Houghton Mifflin Harcourt by 34.8% in the second quarter. Rivulet Capital LLC now owns 4,252,257 shares of the business services provider’s stock valued at $52,303,000 after buying an additional 1,096,900 shares during the period. Parametric Portfolio Associates LLC boosted its position in shares of Houghton Mifflin Harcourt by 41.6% in the second quarter. Parametric Portfolio Associates LLC now owns 194,211 shares of the business services provider’s stock valued at $2,389,000 after buying an additional 57,088 shares during the period. Finally, Suntrust Banks Inc. acquired a new position in shares of Houghton Mifflin Harcourt during the second quarter valued at about $256,000.
Houghton Mifflin Harcourt Company Profile
Houghton Mifflin Harcourt Company (HMH) is a global learning company, specializing in education solutions across a range of media. The Company operates through two segments: Education and Trade Publishing. As of December 31, 2016, the Company delivered content, services and technology to both educational institutions and consumers, reaching over 50 million students in approximately 150 countries across the world.
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