Houghton Mifflin Harcourt (NASDAQ:HMHC) Rating Increased to Hold at BidaskClub

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Houghton Mifflin Harcourt (NASDAQ:HMHC) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a report released on Saturday, BidAskClub reports.

Several other research firms also recently weighed in on HMHC. Citigroup decreased their target price on Houghton Mifflin Harcourt from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, July 16th. ValuEngine upgraded Houghton Mifflin Harcourt from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Morgan Stanley decreased their target price on Houghton Mifflin Harcourt from $7.00 to $6.50 and set an “equal weight” rating on the stock in a research report on Thursday, September 5th. Zacks Investment Research upgraded Houghton Mifflin Harcourt from a “hold” rating to a “buy” rating and set a $5.50 target price on the stock in a research report on Wednesday, October 9th. Finally, BMO Capital Markets decreased their target price on Houghton Mifflin Harcourt from $8.00 to $7.00 and set an “outperform” rating on the stock in a research report on Friday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $6.75.

Shares of HMHC stock opened at $5.85 on Friday. The company has a market capitalization of $648.93 million, a P/E ratio of -5.52 and a beta of 0.87. The business’s 50 day moving average is $5.41 and its two-hundred day moving average is $6.01. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 1.46. Houghton Mifflin Harcourt has a 12-month low of $4.49 and a 12-month high of $10.64.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last released its earnings results on Thursday, August 8th. The business services provider reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The business had revenue of $388.90 million for the quarter, compared to the consensus estimate of $399.91 million. Houghton Mifflin Harcourt had a negative return on equity of 16.39% and a negative net margin of 9.46%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.19) earnings per share. On average, research analysts predict that Houghton Mifflin Harcourt will post -1.36 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HMHC. Invesco Ltd. lifted its position in Houghton Mifflin Harcourt by 974.2% during the second quarter. Invesco Ltd. now owns 3,160,302 shares of the business services provider’s stock worth $18,204,000 after buying an additional 2,866,103 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in Houghton Mifflin Harcourt during the second quarter worth approximately $9,684,000. D. E. Shaw & Co. Inc. lifted its position in Houghton Mifflin Harcourt by 65.8% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,222,334 shares of the business services provider’s stock worth $7,041,000 after buying an additional 484,924 shares in the last quarter. Intrinsic Edge Capital Management LLC purchased a new position in Houghton Mifflin Harcourt during the second quarter worth approximately $2,304,000. Finally, Wells Fargo & Company MN lifted its position in Houghton Mifflin Harcourt by 13.6% during the second quarter. Wells Fargo & Company MN now owns 3,111,879 shares of the business services provider’s stock worth $17,925,000 after buying an additional 373,189 shares in the last quarter. Institutional investors and hedge funds own 95.56% of the company’s stock.

About Houghton Mifflin Harcourt

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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