Houghton Mifflin Harcourt (HMHC) Downgraded by BidaskClub to Sell

BidaskClub downgraded shares of Houghton Mifflin Harcourt (NASDAQ:HMHC) from a hold rating to a sell rating in a research note released on Friday morning.

Several other research firms have also issued reports on HMHC. Wells Fargo & Co upped their price target on Houghton Mifflin Harcourt from $12.00 to $13.00 and gave the company an outperform rating in a research report on Wednesday, June 27th. ValuEngine raised Houghton Mifflin Harcourt from a strong sell rating to a sell rating in a research report on Tuesday, October 2nd. Stifel Nicolaus reissued a hold rating and set a $7.50 price target (down from $8.00) on shares of Houghton Mifflin Harcourt in a research report on Friday, August 3rd. Finally, Morgan Stanley dropped their price target on Houghton Mifflin Harcourt from $8.00 to $7.00 and set an equal weight rating on the stock in a research report on Friday, August 3rd. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. Houghton Mifflin Harcourt has an average rating of Hold and an average price target of $9.94.

HMHC stock opened at $5.69 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.66 and a debt-to-equity ratio of 1.03. The company has a market cap of $864.88 million, a P/E ratio of -4.70 and a beta of 0.46. Houghton Mifflin Harcourt has a 12-month low of $5.10 and a 12-month high of $11.95.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last posted its quarterly earnings results on Thursday, August 2nd. The business services provider reported ($0.19) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.14). The firm had revenue of $375.58 million for the quarter, compared to analyst estimates of $386.20 million. Houghton Mifflin Harcourt had a negative net margin of 4.35% and a negative return on equity of 14.89%. The business’s revenue was down 4.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.38) earnings per share. Sell-side analysts expect that Houghton Mifflin Harcourt will post -0.94 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of the stock. Verition Fund Management LLC acquired a new stake in Houghton Mifflin Harcourt in the second quarter worth $113,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in Houghton Mifflin Harcourt in the second quarter worth $116,000. Bank of Montreal Can acquired a new stake in Houghton Mifflin Harcourt in the second quarter worth $145,000. Campbell & CO Investment Adviser LLC acquired a new stake in Houghton Mifflin Harcourt in the second quarter worth $216,000. Finally, Oppenheimer Asset Management Inc. increased its position in Houghton Mifflin Harcourt by 60.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 33,514 shares of the business services provider’s stock worth $233,000 after buying an additional 12,640 shares during the period. 95.53% of the stock is currently owned by institutional investors and hedge funds.

Houghton Mifflin Harcourt Company Profile

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.

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