B. Riley Analysts Reduce Earnings Estimates for HC2 Holdings Inc (HCHC)

HC2 Holdings Inc (NYSE:HCHC) – Investment analysts at B. Riley lowered their Q3 2018 earnings estimates for shares of HC2 in a research note issued on Tuesday, November 6th. B. Riley analyst S. Sherbetchyan now anticipates that the technology company will post earnings of ($0.42) per share for the quarter, down from their prior estimate of ($0.38). B. Riley also issued estimates for HC2’s Q4 2018 earnings at ($0.17) EPS and FY2018 earnings at ($2.05) EPS.

HCHC has been the subject of a number of other research reports. Zacks Investment Research raised HC2 from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a report on Thursday. ValuEngine downgraded HC2 from a “buy” rating to a “hold” rating in a report on Thursday, November 1st.

HC2 stock opened at $4.96 on Thursday. HC2 has a one year low of $4.78 and a one year high of $7.79. The company has a debt-to-equity ratio of 4.16, a current ratio of 1.55 and a quick ratio of 1.55. The firm has a market capitalization of $238.29 million, a price-to-earnings ratio of -5.01 and a beta of 1.23.

HC2 (NYSE:HCHC) last released its earnings results on Wednesday, August 8th. The technology company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.24). HC2 had a net margin of 0.32% and a negative return on equity of 51.25%. The business had revenue of $496.78 million during the quarter, compared to analyst estimates of $454.23 million.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of HC2 by 1.1% in the third quarter. BlackRock Inc. now owns 2,272,194 shares of the technology company’s stock valued at $13,905,000 after buying an additional 25,347 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of HC2 by 2.5% in the third quarter. JPMorgan Chase & Co. now owns 1,488,595 shares of the technology company’s stock valued at $9,110,000 after buying an additional 36,156 shares in the last quarter. Gabelli Funds LLC increased its position in shares of HC2 by 7.9% in the third quarter. Gabelli Funds LLC now owns 273,510 shares of the technology company’s stock valued at $1,674,000 after buying an additional 20,010 shares in the last quarter. Gamco Investors INC. ET AL increased its position in shares of HC2 by 150.0% in the third quarter. Gamco Investors INC. ET AL now owns 25,000 shares of the technology company’s stock valued at $153,000 after buying an additional 15,000 shares in the last quarter. Finally, Wealthstreet Investment Advisors LLC purchased a new position in shares of HC2 in the third quarter valued at $366,000. Institutional investors and hedge funds own 57.19% of the company’s stock.

HC2 Company Profile

HC2 Holdings, Inc engages in the construction, marine services, energy, telecommunications, insurance, 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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Earnings History and Estimates for HC2 (NYSE:HCHC)

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