Equities research analysts expect that Houghton Mifflin Harcourt Co (NASDAQ:HMHC) will report sales of $529.73 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Houghton Mifflin Harcourt’s earnings. The highest sales estimate is $541.50 million and the lowest is $507.70 million. Houghton Mifflin Harcourt posted sales of $532.04 million in the same quarter last year, which would indicate a negative year over year growth rate of 0.4%. The firm is expected to announce its next earnings report before the market opens on Thursday, November 8th.
According to Zacks, analysts expect that Houghton Mifflin Harcourt will report full-year sales of $1.38 billion for the current year, with estimates ranging from $1.34 billion to $1.40 billion. For the next fiscal year, analysts expect that the business will report sales of $1.47 billion, with estimates ranging from $1.44 billion to $1.56 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Houghton Mifflin Harcourt.
HMHC has been the topic of several recent analyst reports. Zacks Investment Research downgraded shares of Houghton Mifflin Harcourt from a “buy” rating to a “hold” rating in a research note on Wednesday, October 10th. BidaskClub downgraded shares of Houghton Mifflin Harcourt from a “buy” rating to a “hold” rating in a research note on Saturday, July 21st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $7.50 price target (down previously from $8.00) on shares of Houghton Mifflin Harcourt in a research note on Friday, August 3rd. Morgan Stanley reduced their price target on shares of Houghton Mifflin Harcourt from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Friday, August 3rd. Finally, Wells Fargo & Co set a $13.00 price target on shares of Houghton Mifflin Harcourt and gave the stock a “buy” rating in a research note on Sunday, August 5th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $8.42.
HMHC stock opened at $6.95 on Tuesday. The stock has a market capitalization of $857.46 million, a P/E ratio of -5.56 and a beta of 0.46. Houghton Mifflin Harcourt has a 12 month low of $5.10 and a 12 month high of $10.05. The company has a current ratio of 1.05, a quick ratio of 0.66 and a debt-to-equity ratio of 1.03.
A number of hedge funds have recently bought and sold shares of the stock. Raymond James & Associates increased its position in Houghton Mifflin Harcourt by 9.4% during the 2nd quarter. Raymond James & Associates now owns 155,431 shares of the business services provider’s stock valued at $1,189,000 after purchasing an additional 13,318 shares during the period. MetLife Investment Advisors LLC increased its position in Houghton Mifflin Harcourt by 39.8% during the 2nd quarter. MetLife Investment Advisors LLC now owns 48,710 shares of the business services provider’s stock valued at $373,000 after purchasing an additional 13,857 shares during the period. Verition Fund Management LLC purchased a new position in Houghton Mifflin Harcourt during the 2nd quarter valued at about $113,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in Houghton Mifflin Harcourt during the 2nd quarter valued at about $116,000. Finally, Bank of America Corp DE increased its position in Houghton Mifflin Harcourt by 5.1% during the 2nd quarter. Bank of America Corp DE now owns 374,803 shares of the business services provider’s stock valued at $2,868,000 after purchasing an additional 18,114 shares during the period. 95.68% of the stock is currently owned by institutional investors.
About Houghton Mifflin Harcourt
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.
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