BidaskClub Lowers Houghton Mifflin Harcourt (HMHC) to Strong Sell

Houghton Mifflin Harcourt (NASDAQ:HMHC) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Friday.

Several other brokerages have also recently weighed in on HMHC. Stifel Nicolaus reissued a “hold” rating and set a $12.50 price target on shares of Houghton Mifflin Harcourt in a research report on Thursday, September 21st. Morgan Stanley dropped their price target on shares of Houghton Mifflin Harcourt from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Monday, October 23rd. Piper Jaffray Companies reissued a “hold” rating and set a $13.00 price target on shares of Houghton Mifflin Harcourt in a research report on Thursday, October 19th. Zacks Investment Research cut shares of Houghton Mifflin Harcourt from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Finally, ValuEngine raised shares of Houghton Mifflin Harcourt from a “strong sell” rating to a “sell” rating in a research report on Saturday, November 4th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. Houghton Mifflin Harcourt currently has an average rating of “Hold” and an average target price of $13.08.

Shares of Houghton Mifflin Harcourt (NASDAQ:HMHC) opened at $8.60 on Friday. The firm has a market cap of $1,060.66, a price-to-earnings ratio of -4.08 and a beta of 0.59. The company has a current ratio of 1.38, a quick ratio of 1.10 and a debt-to-equity ratio of 0.94. Houghton Mifflin Harcourt has a 12-month low of $8.05 and a 12-month high of $13.95.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last announced its quarterly earnings results on Thursday, November 2nd. The business services provider reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.19. The business had revenue of $532.00 million during the quarter, compared to analysts’ expectations of $528.40 million. Houghton Mifflin Harcourt had a negative net margin of 18.59% and a negative return on equity of 17.37%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.73 EPS. equities research analysts expect that Houghton Mifflin Harcourt will post -1.67 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of HMHC. Burgundy Asset Management Ltd. lifted its position in shares of Houghton Mifflin Harcourt by 140.8% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 4,106,547 shares of the business services provider’s stock worth $49,484,000 after purchasing an additional 2,401,362 shares during the period. Rivulet Capital LLC lifted its position in shares of Houghton Mifflin Harcourt by 34.8% in the 2nd quarter. Rivulet Capital LLC now owns 4,252,257 shares of the business services provider’s stock worth $52,303,000 after purchasing an additional 1,096,900 shares during the period. GMT Capital Corp purchased a new stake in shares of Houghton Mifflin Harcourt in the 2nd quarter worth about $11,142,000. Cloverdale Capital Management LLC purchased a new stake in shares of Houghton Mifflin Harcourt in the 2nd quarter worth about $11,311,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Houghton Mifflin Harcourt by 15.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,827,262 shares of the business services provider’s stock worth $58,167,000 after purchasing an additional 652,936 shares during the period.

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About Houghton Mifflin Harcourt

Houghton Mifflin Harcourt Company (HMH) is a global learning company, specializing in education solutions across a range of media. The Company operates through two segments: Education and Trade Publishing. As of December 31, 2016, the Company delivered content, services and technology to both educational institutions and consumers, reaching over 50 million students in approximately 150 countries across the world.

Analyst Recommendations for Houghton Mifflin Harcourt (NASDAQ:HMHC)

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