Houghton Mifflin Harcourt (HMHC) Upgraded to Outperform at BMO Capital Markets

BMO Capital Markets upgraded shares of Houghton Mifflin Harcourt (NASDAQ:HMHC) from a market perform rating to an outperform rating in a research note published on Tuesday morning, The Fly reports. BMO Capital Markets currently has $8.00 target price on the business services provider’s stock.

HMHC has been the topic of a number of other reports. BidaskClub lowered Houghton Mifflin Harcourt from a buy rating to a hold rating in a research report on Saturday, July 21st. Stifel Nicolaus reiterated a hold rating and issued a $7.50 price objective (down from $8.00) on shares of Houghton Mifflin Harcourt in a research report on Friday, August 3rd. Wells Fargo & Co set a $13.00 price objective on Houghton Mifflin Harcourt and gave the company a buy rating in a research report on Sunday, August 5th. Finally, Morgan Stanley decreased their price objective on Houghton Mifflin Harcourt from $8.00 to $7.00 and set an equal weight rating on the stock in a research report on Friday, August 3rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Houghton Mifflin Harcourt has an average rating of Hold and an average target price of $9.94.

Shares of HMHC opened at $6.05 on Tuesday. The firm has a market capitalization of $864.88 million, a price-to-earnings ratio of -4.84 and a beta of 0.46. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.66 and a current ratio of 1.05. Houghton Mifflin Harcourt has a 52 week low of $5.10 and a 52 week high of $11.45.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last announced its quarterly earnings data on Thursday, August 2nd. The business services provider reported ($0.19) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.14). The firm had revenue of $375.58 million during the quarter, compared to the consensus estimate of $386.20 million. Houghton Mifflin Harcourt had a negative net margin of 4.35% and a negative return on equity of 14.89%. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.38) earnings per share. Analysts forecast that Houghton Mifflin Harcourt will post -0.94 EPS for the current year.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of Houghton Mifflin Harcourt by 5.5% in the 2nd quarter. BlackRock Inc. now owns 7,001,672 shares of the business services provider’s stock worth $53,562,000 after purchasing an additional 364,281 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Houghton Mifflin Harcourt by 8.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,112,078 shares of the business services provider’s stock worth $39,109,000 after purchasing an additional 419,162 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Houghton Mifflin Harcourt by 3.4% in the 2nd quarter. Wells Fargo & Company MN now owns 3,082,852 shares of the business services provider’s stock worth $23,584,000 after purchasing an additional 101,892 shares during the last quarter. OppenheimerFunds Inc. boosted its position in shares of Houghton Mifflin Harcourt by 2.6% in the 2nd quarter. OppenheimerFunds Inc. now owns 2,010,842 shares of the business services provider’s stock worth $15,383,000 after purchasing an additional 51,194 shares during the last quarter. Finally, Lapides Asset Management LLC boosted its position in shares of Houghton Mifflin Harcourt by 11.2% in the 2nd quarter. Lapides Asset Management LLC now owns 1,957,300 shares of the business services provider’s stock worth $14,973,000 after purchasing an additional 196,500 shares during the last quarter. Institutional investors and hedge funds own 95.53% of the company’s stock.

Houghton Mifflin Harcourt Company Profile

Houghton Mifflin Harcourt Company, a learning company, provides content, services, and technology solutions for educational institutions and consumers 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: Technical Analysis

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