Houghton Mifflin Harcourt (HMHC) Announces Quarterly Earnings Results

Houghton Mifflin Harcourt (NASDAQ:HMHC) announced its quarterly earnings data on Thursday. The business services provider reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.73) by ($0.22), MarketWatch Earnings reports. The firm had revenue of $195.00 million for the quarter, compared to the consensus estimate of $201.61 million. Houghton Mifflin Harcourt had a negative net margin of 8.25% and a negative return on equity of 18.18%. Houghton Mifflin Harcourt’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period last year, the company posted ($0.82) earnings per share.

Shares of NASDAQ:HMHC traded down $0.29 during trading on Friday, hitting $6.52. 1,594,004 shares of the company were exchanged, compared to its average volume of 721,159. The company has a market cap of $809.20 million, a P/E ratio of -6.15 and a beta of 0.79. Houghton Mifflin Harcourt has a 52-week low of $5.10 and a 52-week high of $10.64. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.45 and a quick ratio of 1.07.

In other Houghton Mifflin Harcourt news, major shareholder Anchorage Capital Group, L.L.C sold 622,320 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $7.75, for a total transaction of $4,822,980.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.69% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in shares of Houghton Mifflin Harcourt by 2.7% in the third quarter. JPMorgan Chase & Co. now owns 2,243,773 shares of the business services provider’s stock worth $15,706,000 after buying an additional 58,993 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of 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 worth $280,000 after buying an additional 24,139 shares in the last quarter. MetLife Investment Advisors LLC raised its position in shares of Houghton Mifflin Harcourt by 19.6% in the third quarter. MetLife Investment Advisors LLC now owns 58,244 shares of the business services provider’s stock worth $408,000 after buying an additional 9,534 shares in the last quarter. Legal & General Group Plc raised its position in shares of 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 worth $457,000 after buying an additional 8,020 shares in the last quarter. Finally, Garnet Equity Capital Holdings Inc. raised its position in shares of Houghton Mifflin Harcourt by 16.4% in the fourth quarter. Garnet Equity Capital Holdings Inc. now owns 349,332 shares of the business services provider’s stock worth $3,095,000 after buying an additional 49,200 shares in the last quarter. Institutional investors own 94.49% of the company’s stock.

Several equities research analysts have issued reports on HMHC shares. BidaskClub downgraded Houghton Mifflin Harcourt from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 9th. Zacks Investment Research downgraded Houghton Mifflin Harcourt from a “hold” rating to a “sell” rating in a research report on Saturday, February 23rd. BMO Capital Markets dropped their target price on Houghton Mifflin Harcourt from $12.00 to $11.00 and set an “outperform” rating on the stock in a research report on Monday, March 4th. Finally, TheStreet downgraded Houghton Mifflin Harcourt from a “c-” rating to a “d” rating in a research report on Friday, March 22nd. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Houghton Mifflin Harcourt presently has an average rating of “Hold” and a consensus target price of $9.63.

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Houghton Mifflin Harcourt Company Profile

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.

Further Reading: Net Margin

Earnings History for Houghton Mifflin Harcourt (NASDAQ:HMHC)

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