Zacks: HC2 Holdings Inc (HCHC) Receives Average Rating of “Strong Buy” from Brokerages

Shares of HC2 Holdings Inc (NYSE:HCHC) have received an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.

Brokerages have set a twelve-month consensus target price of $13.50 for the company and are anticipating that the company will post ($0.16) earnings per share for the current quarter, according to Zacks. Zacks has also assigned HC2 an industry rank of 96 out of 256 based on the ratings given to its competitors.

Several research analysts have recently issued reports on HCHC shares. ValuEngine upgraded shares of HC2 from a “hold” rating to a “buy” rating in a report on Thursday, October 11th. Zacks Investment Research upgraded shares of HC2 from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a report on Thursday, November 8th.



Large investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of HC2 by 1.1% during the 3rd quarter. BlackRock Inc. now owns 2,272,194 shares of the technology company’s stock valued at $13,905,000 after acquiring an additional 25,347 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of HC2 by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,927,282 shares of the technology company’s stock valued at $11,795,000 after acquiring an additional 18,956 shares in the last quarter. Vanguard Group Inc boosted its position in shares of HC2 by 1.0% during the 3rd quarter. Vanguard Group Inc now owns 1,927,282 shares of the technology company’s stock valued at $11,795,000 after acquiring an additional 18,956 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of HC2 by 2.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,488,595 shares of the technology company’s stock valued at $9,110,000 after acquiring an additional 36,156 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of HC2 by 16.9% during the 3rd quarter. Renaissance Technologies LLC now owns 514,100 shares of the technology company’s stock valued at $3,146,000 after acquiring an additional 74,300 shares in the last quarter. Institutional investors own 56.39% of the company’s stock.

NYSE:HCHC opened at $3.50 on Tuesday. HC2 has a 52-week low of $2.31 and a 52-week high of $7.79. The company has a current ratio of 3.35, a quick ratio of 3.35 and a debt-to-equity ratio of 2.40. The stock has a market cap of $156.71 million, a PE ratio of -3.54 and a beta of 1.35.

HC2 (NYSE:HCHC) last posted its quarterly earnings data on Wednesday, November 7th. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.47. HC2 had a net margin of 8.65% and a negative return on equity of 24.50%. The company had revenue of $501.36 million for the quarter, compared to the consensus estimate of $479.05 million. On average, research analysts expect that HC2 will post -1.54 earnings per share for the current year.

About HC2

HC2 Holdings, Inc engages in the construction, marine services, energy, telecommunications, insurance, life sciences, and other businesses in the United States, the United Kingdom, and internationally. The company fabricates and erects structural steel for commercial and industrial construction projects, such as buildings and office complexes, hotels and casinos, convention centers, sports arenas and stadiums, shopping malls, hospitals, dams, bridges, mines, and power plants.

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