Houghton Mifflin Harcourt Learning Technology (HMHC) Downgraded to “Strong Sell” at BidaskClub

Houghton Mifflin Harcourt Learning Technology (NASDAQ:HMHC) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a note issued to investors on Thursday.

A number of other brokerages have also recently commented on HMHC. BMO Capital Markets reiterated a “market perform” rating and issued a $8.00 target price (down previously from $11.00) on shares of Houghton Mifflin Harcourt Learning Technology in a research report on Friday, February 23rd. Zacks Investment Research cut shares of Houghton Mifflin Harcourt Learning Technology from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Goldman Sachs initiated coverage on shares of Houghton Mifflin Harcourt Learning Technology in a research report on Tuesday, March 27th. They issued a “sell” rating and a $6.50 target price on the stock. ValuEngine cut shares of Houghton Mifflin Harcourt Learning Technology from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. Finally, Morgan Stanley decreased their target price on shares of Houghton Mifflin Harcourt Learning Technology from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Friday, May 4th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.71.

Houghton Mifflin Harcourt Learning Technology opened at $6.77 on Thursday, according to Marketbeat. Houghton Mifflin Harcourt Learning Technology has a 52-week low of $6.67 and a 52-week high of $6.75. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.09 and a quick ratio of 0.64.

Houghton Mifflin Harcourt Learning Technology (NASDAQ:HMHC) last issued its earnings results on Thursday, May 3rd. The business services provider reported ($0.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.03). The business had revenue of $219.77 million during the quarter, compared to analysts’ expectations of $217.95 million. Houghton Mifflin Harcourt Learning Technology had a negative return on equity of 15.47% and a negative net margin of 5.98%. Houghton Mifflin Harcourt Learning Technology’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.98) EPS. sell-side analysts expect that Houghton Mifflin Harcourt Learning Technology will post -0.86 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its position in shares of Houghton Mifflin Harcourt Learning Technology by 8.2% in the fourth quarter. Wells Fargo & Company MN now owns 2,904,573 shares of the business services provider’s stock valued at $27,012,000 after acquiring an additional 220,295 shares during the period. Burgundy Asset Management Ltd. increased its position in shares of Houghton Mifflin Harcourt Learning Technology by 14.9% in the fourth quarter. Burgundy Asset Management Ltd. now owns 4,717,565 shares of the business services provider’s stock valued at $43,873,000 after acquiring an additional 611,018 shares during the period. Alliancebernstein L.P. increased its position in shares of Houghton Mifflin Harcourt Learning Technology by 81.2% in the fourth quarter. Alliancebernstein L.P. now owns 6,040,000 shares of the business services provider’s stock valued at $56,172,000 after acquiring an additional 2,705,775 shares during the period. Royce & Associates LP increased its position in shares of Houghton Mifflin Harcourt Learning Technology by 10.0% in the fourth quarter. Royce & Associates LP now owns 1,675,759 shares of the business services provider’s stock valued at $15,585,000 after acquiring an additional 153,000 shares during the period. Finally, Spark Investment Management LLC purchased a new position in shares of Houghton Mifflin Harcourt Learning Technology in the fourth quarter valued at about $3,173,000.

About Houghton Mifflin Harcourt Learning Technology

Houghton Mifflin Harcourt Company, a learning company, provides content, services, and technology solutions for educational institutions and consumers worldwide. The company operates in two segments, Education and Trade Publishing. The Education segment provides educational products, technology platforms, and services, including print and digital content in the form of textbooks, digital courseware, instructional aids, educational assessment, and intervention solutions for students.

Analyst Recommendations for Houghton Mifflin Harcourt Learning Technology (NASDAQ:HMHC)

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