Brokerages Anticipate HC2 Holdings, Inc. (HCHC) to Post ($0.16) Earnings Per Share
Shares of HC2 Holdings, Inc. (NYSE:HCHC) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.
Brokerages have set a 1-year consensus price objective of $11.50 for the company and are expecting that the company will post ($0.16) earnings per share for the current quarter, according to Zacks. Zacks has also assigned HC2 an industry rank of 183 out of 265 based on the ratings given to related companies.
A number of research firms have recently commented on HCHC. B. Riley set a $10.00 target price on shares of HC2 and gave the stock a “buy” rating in a research report on Monday, October 23rd. Zacks Investment Research cut shares of HC2 from a “hold” rating to a “sell” rating in a research report on Monday, November 13th.
HC2 (NYSE:HCHC) last posted its earnings results on Wednesday, November 8th. The technology company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.07). HC2 had a negative return on equity of 67.69% and a negative net margin of 6.13%. The firm had revenue of $406.40 million for the quarter, compared to analyst estimates of $428.04 million. During the same period in the previous year, the firm posted ($0.20) earnings per share. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. analysts expect that HC2 will post -1.11 earnings per share for the current year.
In related news, Director Robert V. Leffler, Jr. sold 20,000 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $5.00, for a total value of $100,000.00. Following the sale, the director now directly owns 19,779 shares of the company’s stock, valued at $98,895. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Suzi R. Herbst sold 5,303 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $4.99, for a total transaction of $26,461.97. Following the completion of the sale, the insider now directly owns 27,493 shares in the company, valued at $137,190.07. The disclosure for this sale can be found here. Insiders own 16.00% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. PEAK6 Investments L.P. acquired a new stake in HC2 in the third quarter valued at $179,000. Schwab Charles Investment Management Inc. raised its holdings in HC2 by 19.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 126,795 shares of the technology company’s stock valued at $670,000 after acquiring an additional 20,764 shares in the last quarter. Wells Fargo & Company MN raised its holdings in HC2 by 48.6% in the third quarter. Wells Fargo & Company MN now owns 58,523 shares of the technology company’s stock valued at $309,000 after acquiring an additional 19,148 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of HC2 by 51.2% during the third quarter. JPMorgan Chase & Co. now owns 1,574,500 shares of the technology company’s stock worth $8,455,000 after purchasing an additional 533,100 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of HC2 by 8.9% during the third quarter. Bank of New York Mellon Corp now owns 147,790 shares of the technology company’s stock worth $780,000 after purchasing an additional 12,032 shares during the period. 59.94% of the stock is currently owned by hedge funds and other institutional investors.
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HC2 Holdings, Inc engages in construction, marine services, insurance, telecommunications, energy, life sciences, and other businesses in the United States, the United Kingdom, and internationally. The company fabricates and erects structural steel for commercial and industrial construction projects, such as buildings and office complexes, hotels and casinos, convention centers, sports arenas and stadiums, shopping malls, hospitals, dams, bridges, mines, and power plants.
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