Analysts Expect HC2 Holdings Inc (HCHC) to Announce ($0.16) Earnings Per Share

HC2 Holdings Inc (NYSE:HCHC) has earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.

Brokerages have set a 12 month consensus price target of $11.50 for the company and are forecasting that the company will post ($0.16) EPS for the current quarter, according to Zacks. Zacks has also given HC2 an industry rank of 91 out of 265 based on the ratings given to its competitors.

Several research analysts have commented on HCHC shares. B. Riley set a $10.00 price objective on shares of HC2 and gave the company a “buy” rating in a research report on Monday, October 23rd. Zacks Investment Research downgraded shares of HC2 from a “hold” rating to a “sell” rating in a research report on Monday, November 13th.

HC2 (HCHC) traded down $0.15 during midday trading on Friday, hitting $5.15. 173,798 shares of the stock were exchanged, compared to its average volume of 138,560. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 6.06. HC2 has a 52 week low of $4.30 and a 52 week high of $6.71. The firm has a market capitalization of $228.19, a P/E ratio of -2.00 and a beta of 0.67.

HC2 (NYSE:HCHC) last released its quarterly earnings results on Wednesday, November 8th. The technology company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.07). HC2 had a negative net margin of 6.13% and a negative return on equity of 67.69%. The business had revenue of $406.40 million during the quarter, compared to analyst estimates of $428.04 million. During the same quarter in the previous year, the firm posted ($0.20) earnings per share. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. research analysts predict that HC2 will post -1.11 earnings per share for the current year.

In other HC2 news, insider Suzi R. Herbst sold 5,303 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 27,493 shares in the company, valued at $137,190.07. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 16.00% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Voya Investment Management LLC grew its stake in shares of HC2 by 29.2% during the second quarter. Voya Investment Management LLC now owns 20,115 shares of the technology company’s stock worth $118,000 after buying an additional 4,546 shares during the last quarter. Alliancebernstein L.P. bought a new stake in shares of HC2 during the second quarter worth $151,000. New York State Common Retirement Fund grew its stake in shares of HC2 by 5.6% during the second quarter. New York State Common Retirement Fund now owns 26,200 shares of the technology company’s stock worth $154,000 after buying an additional 1,399 shares during the last quarter. PEAK6 Investments L.P. bought a new stake in shares of HC2 during the third quarter worth $179,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of HC2 by 11.2% during the second quarter. Goldman Sachs Group Inc. now owns 32,490 shares of the technology company’s stock worth $191,000 after buying an additional 3,273 shares during the last quarter. Institutional investors and hedge funds own 60.31% of the company’s stock.

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About HC2

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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