Houghton Mifflin Harcourt (HMHC) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Houghton Mifflin Harcourt (NASDAQ:HMHC) from a hold rating to a sell rating in a research report sent to investors on Wednesday, January 3rd.

According to Zacks, “Houghton Mifflin Harcourt Company is a global provider of education solutions, delivering content, technology, services and media to students in over 150 countries worldwide. The Company delivers its offerings to both educational institutions and consumers. It provides kindergarten through twelfth grade, or K-12, educational content in the United States. The Company, through its subsidiary, provides print and electronic textbook curriculum, learning content, and assessment tools and services. Houghton Mifflin Harcourt Company is headquartered in Boston, Massachusetts. “

Several other brokerages have also recently weighed in on HMHC. BMO Capital Markets restated a hold rating and set a $13.00 target price on shares of Houghton Mifflin Harcourt in a report on Monday, September 18th. Stifel Nicolaus reaffirmed a hold rating and set a $12.50 price target on shares of Houghton Mifflin Harcourt in a research report on Thursday, September 21st. Morgan Stanley decreased their target price on Houghton Mifflin Harcourt from $12.00 to $11.00 and set an equal weight rating for the company in a research report on Monday, October 23rd. Piper Jaffray Companies reaffirmed a hold rating and set a $13.00 price objective on shares of Houghton Mifflin Harcourt in a research report on Thursday, October 19th. Finally, ValuEngine raised Houghton Mifflin Harcourt from a strong sell rating to a sell rating in a research report on Saturday, November 4th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $13.08.

Houghton Mifflin Harcourt (NASDAQ HMHC) traded up $0.05 during trading hours on Wednesday, hitting $9.15. The company had a trading volume of 462,500 shares, compared to its average volume of 682,763. The company has a market cap of $1,120.00, a price-to-earnings ratio of -4.34 and a beta of 0.59. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.10 and a current ratio of 1.38. Houghton Mifflin Harcourt has a 12 month low of $8.05 and a 12 month high of $13.95.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last announced its earnings results on Thursday, November 2nd. The business services provider reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.19. Houghton Mifflin Harcourt had a negative return on equity of 17.37% and a negative net margin of 18.59%. The business had revenue of $532.00 million for the quarter, compared to analyst estimates of $528.40 million. During the same period in the prior year, the company earned $0.73 EPS. The company’s quarterly revenue was down .2% compared to the same quarter last year. sell-side analysts predict that Houghton Mifflin Harcourt will post -1.67 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. Concourse Capital Management LLC purchased a new position in Houghton Mifflin Harcourt during the second quarter valued at $3,306,000. GMT Capital Corp raised its holdings in Houghton Mifflin Harcourt by 47.3% during the third quarter. GMT Capital Corp now owns 1,373,600 shares of the business services provider’s stock valued at $16,552,000 after acquiring an additional 441,200 shares during the period. Burgundy Asset Management Ltd. raised its holdings in Houghton Mifflin Harcourt by 27.7% during the second quarter. Burgundy Asset Management Ltd. now owns 1,705,185 shares of the business services provider’s stock valued at $20,974,000 after acquiring an additional 370,054 shares during the period. Wells Fargo & Company MN raised its holdings in Houghton Mifflin Harcourt by 6.9% during the third quarter. Wells Fargo & Company MN now owns 2,684,278 shares of the business services provider’s stock valued at $32,345,000 after acquiring an additional 173,581 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in Houghton Mifflin Harcourt by 44.9% during the third quarter. JPMorgan Chase & Co. now owns 1,030,954 shares of the business services provider’s stock valued at $12,372,000 after acquiring an additional 319,315 shares during the period.

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Houghton Mifflin Harcourt Company Profile

Houghton Mifflin Harcourt Company (HMH) is a global learning company, specializing in education solutions across a range of media. The Company operates through two segments: Education and Trade Publishing. As of December 31, 2016, the Company delivered content, services and technology to both educational institutions and consumers, reaching over 50 million students in approximately 150 countries across the world.

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