Houghton Mifflin Harcourt Company (NASDAQ:HMHC) had its price target dropped by Morgan Stanley from $12.00 to $11.00 in a research report issued on Monday. The brokerage presently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 7.84% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus reissued a “hold” rating and set a $12.50 price objective on shares of Houghton Mifflin Harcourt in a research note on Monday, July 10th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $13.00 target price on shares of Houghton Mifflin Harcourt in a research note on Thursday. BidaskClub cut Houghton Mifflin Harcourt from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Zacks Investment Research cut Houghton Mifflin Harcourt from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $13.00 target price on shares of Houghton Mifflin Harcourt in a research note on Monday, September 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $12.50.

Houghton Mifflin Harcourt (NASDAQ:HMHC) traded down 3.77% during trading on Monday, reaching $10.20. The company had a trading volume of 480,405 shares. The company’s market capitalization is $1.26 billion. The firm’s 50 day moving average is $11.26 and its 200 day moving average is $11.74. Houghton Mifflin Harcourt has a one year low of $9.15 and a one year high of $13.95.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last issued its quarterly earnings data on Thursday, August 3rd. The business services provider reported ($0.20) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.03. Houghton Mifflin Harcourt had a negative return on equity of 16.14% and a negative net margin of 18.60%. The company had revenue of $393.05 million for the quarter, compared to analysts’ expectations of $387.68 million. During the same period in the previous year, the firm posted ($0.23) earnings per share. The firm’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities research analysts predict that Houghton Mifflin Harcourt will post ($1.62) earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: “Morgan Stanley Trims Houghton Mifflin Harcourt Company (HMHC) Target Price to $11.00” was originally reported by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another site, it was stolen and republished in violation of US & international trademark and copyright law. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/10/23/morgan-stanley-trims-houghton-mifflin-harcourt-company-hmhc-target-price-to-11-00.html.

Several institutional investors and hedge funds have recently added to or reduced their stakes in HMHC. Bank of New York Mellon Corp grew its stake in shares of Houghton Mifflin Harcourt by 760.5% during the second quarter. Bank of New York Mellon Corp now owns 4,174,326 shares of the business services provider’s stock valued at $51,344,000 after buying an additional 3,689,216 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Houghton Mifflin Harcourt by 4,682.3% during the second quarter. Jennison Associates LLC now owns 1,896,412 shares of the business services provider’s stock valued at $23,326,000 after buying an additional 1,856,757 shares during the last quarter. Rivulet Capital LLC grew its stake in shares of Houghton Mifflin Harcourt by 34.8% during the second quarter. Rivulet Capital LLC now owns 4,252,257 shares of the business services provider’s stock valued at $52,303,000 after buying an additional 1,096,900 shares during the last quarter. GMT Capital Corp bought a new position in shares of Houghton Mifflin Harcourt during the second quarter valued at approximately $11,142,000. Finally, Cloverdale Capital Management LLC bought a new position in shares of Houghton Mifflin Harcourt during the second quarter valued at approximately $11,311,000. 99.94% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Houghton Mifflin Harcourt (NASDAQ:HMHC)

Receive News & Ratings for Houghton Mifflin Harcourt Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Houghton Mifflin Harcourt Company and related companies with MarketBeat.com's FREE daily email newsletter.