BMO Capital Markets reaffirmed their hold rating on shares of Houghton Mifflin Harcourt Company (NASDAQ:HMHC) in a report published on Friday morning. The brokerage currently has a $13.00 target price on the business services provider’s stock.
A number of other research firms have also recently weighed in on HMHC. BidaskClub cut Houghton Mifflin Harcourt from a hold rating to a sell rating in a research report on Wednesday, July 12th. Zacks Investment Research raised Houghton Mifflin Harcourt from a hold rating to a buy rating and set a $13.00 price objective on the stock in a research report on Thursday, July 20th. Finally, Stifel Nicolaus reaffirmed a hold rating and set a $12.50 price objective on shares of Houghton Mifflin Harcourt in a research report on Monday, July 10th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $16.90.
Shares of Houghton Mifflin Harcourt (NASDAQ:HMHC) traded up 2.18% during midday trading on Friday, hitting $11.70. 378,152 shares of the stock were exchanged. The stock’s market cap is $1.44 billion. Houghton Mifflin Harcourt has a 52-week low of $9.15 and a 52-week high of $17.36. The firm’s 50 day moving average price is $12.38 and its 200-day moving average price is $11.46.
Houghton Mifflin Harcourt (NASDAQ:HMHC) last released its quarterly earnings results on Thursday, August 3rd. The business services provider reported ($0.20) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.23) by $0.03. The business had revenue of $393.05 million during the quarter, compared to the consensus estimate of $387.68 million. Houghton Mifflin Harcourt had a negative return on equity of 16.14% and a negative net margin of 18.60%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.23) EPS. On average, equities research analysts expect that Houghton Mifflin Harcourt will post ($1.52) earnings per share for the current fiscal year.
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In other Houghton Mifflin Harcourt news, Director Lawrence K. Fish purchased 67,364 shares of the stock in a transaction that occurred on Tuesday, May 9th. The shares were bought at an average cost of $12.99 per share, with a total value of $875,058.36. Following the acquisition, the director now owns 78,159 shares in the company, valued at $1,015,285.41. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of HMHC. Vista Equity Partners Management LLC acquired a new position in Houghton Mifflin Harcourt during the first quarter worth approximately $9,268,000. Norges Bank acquired a new position in Houghton Mifflin Harcourt during the fourth quarter worth approximately $13,930,000. Independent Portfolio Consultants Inc. acquired a new position in Houghton Mifflin Harcourt during the second quarter worth approximately $125,000. Nordea Investment Management AB boosted its position in Houghton Mifflin Harcourt by 15.9% in the first quarter. Nordea Investment Management AB now owns 485,800 shares of the business services provider’s stock worth $4,931,000 after buying an additional 66,600 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Houghton Mifflin Harcourt by 74.6% in the first quarter. Renaissance Technologies LLC now owns 1,050,800 shares of the business services provider’s stock worth $10,666,000 after buying an additional 448,900 shares in the last quarter.
About Houghton Mifflin Harcourt
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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