Zacks: Brokerages Anticipate Houghton Mifflin Harcourt Company (HMHC) Will Announce Quarterly Sales of $534.50 Million
Wall Street analysts expect that Houghton Mifflin Harcourt Company (NASDAQ:HMHC) will report sales of $534.50 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Houghton Mifflin Harcourt’s earnings. The highest sales estimate is $539.00 million and the lowest is $530.00 million. Houghton Mifflin Harcourt reported sales of $533.02 million in the same quarter last year, which indicates a positive year-over-year growth rate of 0.3%. The company is scheduled to report its next earnings results on Thursday, November 2nd.
On average, analysts expect that Houghton Mifflin Harcourt will report full-year sales of $534.50 million for the current year, with estimates ranging from $1.38 billion to $1.40 billion. For the next year, analysts anticipate that the company will post sales of $1.46 billion per share, with estimates ranging from $1.40 billion to $1.55 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Houghton Mifflin Harcourt.
Houghton Mifflin Harcourt (NASDAQ:HMHC) last announced its quarterly earnings results on Thursday, August 3rd. The business services provider reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.03. The firm had revenue of $393.05 million for the quarter, compared to analyst estimates of $387.68 million. Houghton Mifflin Harcourt had a negative return on equity of 16.14% and a negative net margin of 18.60%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.23) earnings per share.
Several brokerages have weighed in on HMHC. Zacks Investment Research upgraded Houghton Mifflin Harcourt from a “sell” rating to a “hold” rating in a report on Friday, August 11th. BMO Capital Markets restated a “hold” rating and set a $13.00 price target on shares of Houghton Mifflin Harcourt in a report on Friday, August 4th. Stifel Nicolaus restated a “hold” rating and set a $12.50 price target on shares of Houghton Mifflin Harcourt in a report on Thursday, September 21st. Finally, BidaskClub downgraded Houghton Mifflin Harcourt from a “sell” rating to a “strong sell” rating in a report on Saturday, August 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $12.83.
Shares of Houghton Mifflin Harcourt (NASDAQ:HMHC) traded down 1.75% during trading on Thursday, hitting $11.20. The stock had a trading volume of 222,420 shares. Houghton Mifflin Harcourt has a 12 month low of $9.15 and a 12 month high of $13.95. The company’s 50 day moving average price is $11.10 and its 200 day moving average price is $11.67. The stock’s market cap is $1.38 billion.
Large investors have recently added to or reduced their stakes in the stock. Vista Equity Partners Management LLC purchased a new position in Houghton Mifflin Harcourt during the 1st quarter worth approximately $9,268,000. Independent Portfolio Consultants Inc. acquired a new stake in Houghton Mifflin Harcourt during the 2nd quarter worth approximately $125,000. Renaissance Technologies LLC lifted its position in Houghton Mifflin Harcourt by 74.6% during the 1st quarter. Renaissance Technologies LLC now owns 1,050,800 shares of the business services provider’s stock worth $10,666,000 after acquiring an additional 448,900 shares during the period. Concourse Capital Management LLC acquired a new stake in Houghton Mifflin Harcourt during the 2nd quarter worth approximately $3,306,000. Finally, BNP Paribas Arbitrage SA lifted its position in Houghton Mifflin Harcourt by 9,643.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 230,909 shares of the business services provider’s stock worth $2,840,000 after acquiring an additional 228,539 shares during the period. Hedge funds and other institutional investors own 99.94% of the company’s stock.
Houghton Mifflin Harcourt Company Profile
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.
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