Houghton Mifflin Harcourt (NASDAQ:HMHC) Downgraded by BidaskClub

BidaskClub lowered shares of Houghton Mifflin Harcourt (NASDAQ:HMHC) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning, BidAskClub reports.

A number of other equities research analysts have also weighed in on HMHC. ValuEngine raised shares of Houghton Mifflin Harcourt from a sell rating to a hold rating in a report on Friday, September 20th. Morgan Stanley dropped their price objective on shares of Houghton Mifflin Harcourt from $7.00 to $6.50 and set an equal weight rating on the stock in a report on Thursday, September 5th. Citigroup dropped their price objective on shares of Houghton Mifflin Harcourt from $10.00 to $8.00 and set a buy rating on the stock in a report on Tuesday, July 16th. Zacks Investment Research lowered shares of Houghton Mifflin Harcourt from a buy rating to a hold rating in a report on Wednesday, October 23rd. Finally, BMO Capital Markets dropped their price objective on shares of Houghton Mifflin Harcourt from $8.00 to $7.00 and set an outperform rating on the stock in a report on Friday, October 18th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $6.75.

Shares of NASDAQ:HMHC traded down $0.03 during trading hours on Wednesday, hitting $5.93. 376,000 shares of the company’s stock traded hands, compared to its average volume of 994,686. The firm has a market capitalization of $741.01 million, a P/E ratio of -5.59 and a beta of 0.90. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.63 and a quick ratio of 1.28. Houghton Mifflin Harcourt has a 1 year low of $4.49 and a 1 year high of $10.64. The business has a fifty day moving average price of $5.66 and a 200-day moving average price of $5.83.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last announced its quarterly earnings data on Thursday, October 31st. The business services provider reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.07). The company had revenue of $565.67 million for the quarter, compared to analysts’ expectations of $581.22 million. Houghton Mifflin Harcourt had a negative net margin of 10.34% and a negative return on equity of 19.29%. Houghton Mifflin Harcourt’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the firm earned $0.68 earnings per share. As a group, equities analysts predict that Houghton Mifflin Harcourt will post -1.68 earnings per share for the current year.

Large investors have recently bought and sold shares of the business. Aperio Group LLC purchased a new stake in Houghton Mifflin Harcourt in the second quarter valued at $41,000. Tower Research Capital LLC TRC boosted its holdings in Houghton Mifflin Harcourt by 656.9% in the third quarter. Tower Research Capital LLC TRC now owns 7,259 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 6,300 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in Houghton Mifflin Harcourt in the second quarter valued at $63,000. Acadian Asset Management LLC boosted its holdings in Houghton Mifflin Harcourt by 40.5% in the second quarter. Acadian Asset Management LLC now owns 18,033 shares of the business services provider’s stock valued at $104,000 after purchasing an additional 5,201 shares during the last quarter. Finally, Wedge Capital Management L L P NC purchased a new stake in Houghton Mifflin Harcourt in the third quarter valued at $96,000. 95.32% of the stock is currently owned by institutional investors.

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.

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