Houghton Mifflin Harcourt (NASDAQ:HMHC) issued its earnings results on Thursday. The business services provider reported $0.01 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.01, Morningstar.com reports. Houghton Mifflin Harcourt had a negative net margin of 9.46% and a negative return on equity of 15.65%. The firm had revenue of $388.90 million during the quarter, compared to analysts’ expectations of $399.91 million. During the same quarter last year, the company posted ($0.19) earnings per share. The firm’s revenue was up 8.9% compared to the same quarter last year.
HMHC traded down $0.02 on Friday, reaching $5.31. The stock had a trading volume of 803,847 shares, compared to its average volume of 571,988. Houghton Mifflin Harcourt has a 12-month low of $4.72 and a 12-month high of $10.64. The company has a current ratio of 1.20, a quick ratio of 0.63 and a debt-to-equity ratio of 1.37. The company has a 50-day moving average price of $5.56. The company has a market cap of $661.51 million, a P/E ratio of -5.01 and a beta of 0.92.
Several research analysts recently issued reports on the stock. BidaskClub raised shares of Houghton Mifflin Harcourt from a “sell” rating to a “hold” rating in a report on Wednesday, July 3rd. ValuEngine raised shares of Houghton Mifflin Harcourt from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research raised shares of Houghton Mifflin Harcourt from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Citigroup cut their price objective on shares of Houghton Mifflin Harcourt from $10.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Houghton Mifflin Harcourt has an average rating of “Hold” and an average target price of $9.50.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co. NY increased its holdings in Houghton Mifflin Harcourt by 322.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 31,633 shares of the business services provider’s stock valued at $280,000 after buying an additional 24,139 shares in the last quarter. Legal & General Group Plc increased its holdings in Houghton Mifflin Harcourt by 18.4% in the fourth quarter. Legal & General Group Plc now owns 51,548 shares of the business services provider’s stock valued at $457,000 after buying an additional 8,020 shares in the last quarter. Menta Capital LLC purchased a new position in Houghton Mifflin Harcourt in the first quarter valued at $94,000. Norges Bank purchased a new position in Houghton Mifflin Harcourt in the fourth quarter valued at $16,439,000. Finally, Geode Capital Management LLC increased its holdings in Houghton Mifflin Harcourt by 8.5% in the fourth quarter. Geode Capital Management LLC now owns 1,220,570 shares of the business services provider’s stock valued at $10,814,000 after buying an additional 95,976 shares in the last quarter. 94.89% of the stock is owned by institutional investors.
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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