Wall Street analysts predict that Houghton Mifflin Harcourt Co (NASDAQ:HMHC) will post earnings of $0.67 per share for the current quarter, Zacks reports. Three analysts have provided estimates for Houghton Mifflin Harcourt’s earnings, with estimates ranging from $0.61 to $0.77. Houghton Mifflin Harcourt posted earnings of $0.73 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 8.2%. The business is scheduled to announce its next quarterly earnings results on Thursday, November 1st.
According to Zacks, analysts expect that Houghton Mifflin Harcourt will report full year earnings of ($0.95) per share for the current fiscal year, with EPS estimates ranging from ($1.06) to ($0.78). For the next fiscal year, analysts forecast that the firm will post earnings of ($0.63) per share, with EPS estimates ranging from ($1.03) to ($0.22). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow Houghton Mifflin Harcourt.
Houghton Mifflin Harcourt (NASDAQ:HMHC) last posted its quarterly earnings data on Thursday, August 2nd. The business services provider reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.14). The business had revenue of $375.58 million during the quarter, compared to the consensus estimate of $386.20 million. Houghton Mifflin Harcourt had a negative return on equity of 14.89% and a negative net margin of 4.35%. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.38) earnings per share.
Several brokerages recently issued reports on HMHC. BidaskClub upgraded Houghton Mifflin Harcourt from a “sell” rating to a “hold” rating in a research note on Friday, August 24th. Wells Fargo & Co boosted their price target on 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 restated a “hold” rating and set a $7.50 price target (down from $8.00) on shares of Houghton Mifflin Harcourt in a research note on Friday, August 3rd. Finally, Morgan Stanley lowered their price target on Houghton Mifflin Harcourt from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Friday, August 3rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $9.94.
Shares of HMHC opened at $5.95 on Friday. Houghton Mifflin Harcourt has a 12-month low of $5.10 and a 12-month high of $12.25. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.66 and a current ratio of 1.05. The stock has a market cap of $747.50 million, a P/E ratio of -4.76 and a beta of 0.48.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its holdings in Houghton Mifflin Harcourt by 4.8% during the second quarter. Bank of New York Mellon Corp now owns 447,559 shares of the business services provider’s stock valued at $3,424,000 after purchasing an additional 20,678 shares in the last quarter. Verition Fund Management LLC acquired a new stake in Houghton Mifflin Harcourt during the second quarter valued at approximately $113,000. MetLife Investment Advisors LLC boosted its holdings 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 valued at $373,000 after purchasing an additional 13,857 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in Houghton Mifflin Harcourt during the second quarter valued at approximately $116,000. Finally, Macquarie Group Ltd. boosted its holdings in Houghton Mifflin Harcourt by 19.2% during the second quarter. Macquarie Group Ltd. now owns 146,868 shares of the business services provider’s stock valued at $1,123,000 after purchasing an additional 23,634 shares in the last quarter. Hedge funds and other institutional investors own 95.54% of the company’s stock.
Houghton Mifflin Harcourt Company Profile
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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