B. Riley Brokers Lift Earnings Estimates for HC2 Holdings Inc (NYSE:HCHC)

HC2 Holdings Inc (NYSE:HCHC) – B. Riley increased their FY2019 earnings estimates for HC2 in a report issued on Wednesday, November 6th. B. Riley analyst S. Sherbetchyan now forecasts that the technology company will post earnings of ($0.25) per share for the year, up from their previous estimate of ($0.26). B. Riley currently has a “Buy” rating and a $11.00 target price on the stock. B. Riley also issued estimates for HC2’s Q4 2019 earnings at ($0.25) EPS, Q1 2020 earnings at ($0.43) EPS, Q2 2020 earnings at ($0.33) EPS, Q3 2020 earnings at ($0.26) EPS, Q4 2020 earnings at ($0.23) EPS and FY2020 earnings at ($1.24) EPS.

HC2 (NYSE:HCHC) last announced its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.16) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.07. The firm had revenue of $475.70 million for the quarter, compared to the consensus estimate of $510.78 million. HC2 had a negative net margin of 0.61% and a negative return on equity of 5.76%.

A number of other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of HC2 from a “buy” rating to a “hold” rating in a report on Thursday. ValuEngine lowered shares of HC2 from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th.

NYSE HCHC traded down $0.04 on Friday, reaching $2.22. The company had a trading volume of 1,678 shares, compared to its average volume of 147,300. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 1.92. The stock has a market capitalization of $111.42 million, a PE ratio of -2.70 and a beta of 1.48. The firm’s 50 day moving average price is $2.29 and its 200 day moving average price is $2.29. HC2 has a 12 month low of $1.90 and a 12 month high of $5.50.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Morgan Stanley boosted its stake in shares of HC2 by 31.6% in the second quarter. Morgan Stanley now owns 25,612 shares of the technology company’s stock valued at $60,000 after purchasing an additional 6,150 shares during the period. Quinn Opportunity Partners LLC increased its stake in HC2 by 17.9% in the 2nd quarter. Quinn Opportunity Partners LLC now owns 104,023 shares of the technology company’s stock valued at $245,000 after buying an additional 15,816 shares during the period. A.R.T. Advisors LLC acquired a new position in HC2 in the 2nd quarter valued at $71,000. CAPROCK Group Inc. increased its stake in HC2 by 30.5% in the 2nd quarter. CAPROCK Group Inc. now owns 143,500 shares of the technology company’s stock valued at $339,000 after buying an additional 33,500 shares during the period. Finally, Menta Capital LLC increased its stake in HC2 by 43.2% in the 2nd quarter. Menta Capital LLC now owns 133,676 shares of the technology company’s stock valued at $315,000 after buying an additional 40,330 shares during the period. 53.61% of the stock is owned by institutional investors and hedge funds.

HC2 Company Profile

HC2 Holdings, Inc provides construction, marine services, energy, telecommunications, insurance, life sciences, broadcasting, and other services in the United States, the United Kingdom, and internationally. The company models, details, fabricates, and erects structural steel for commercial and industrial, and infrastructure construction projects, including building 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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Earnings History and Estimates for HC2 (NYSE:HCHC)

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