Houghton Mifflin Harcourt Co (NASDAQ:HMHC) Expected to Post Quarterly Sales of $588.04 Million

Equities analysts predict that Houghton Mifflin Harcourt Co (NASDAQ:HMHC) will announce $588.04 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Houghton Mifflin Harcourt’s earnings, with the lowest sales estimate coming in at $579.37 million and the highest estimate coming in at $596.70 million. Houghton Mifflin Harcourt reported sales of $516.26 million in the same quarter last year, which indicates a positive year over year growth rate of 13.9%. The firm is expected to issue its next quarterly earnings results on Thursday, November 14th.

On average, analysts expect that Houghton Mifflin Harcourt will report full year sales of $1.43 billion for the current financial year, with estimates ranging from $1.38 billion to $1.48 billion. For the next year, analysts forecast that the firm will report sales of $1.44 billion, with estimates ranging from $1.40 billion to $1.50 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Houghton Mifflin Harcourt.

Houghton Mifflin Harcourt (NASDAQ:HMHC) last announced its earnings results on Thursday, August 8th. The business services provider reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $388.90 million for the quarter, compared to analysts’ expectations of $399.91 million. Houghton Mifflin Harcourt had a negative return on equity of 15.65% and a negative net margin of 9.46%. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the firm posted ($0.19) earnings per share.

Several brokerages have issued reports on HMHC. Zacks Investment Research raised Houghton Mifflin Harcourt from a “sell” rating to a “hold” rating in a research report on Saturday, August 10th. ValuEngine raised Houghton Mifflin Harcourt from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Citigroup dropped their target price on Houghton Mifflin Harcourt from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, July 16th. Finally, BidaskClub raised Houghton Mifflin Harcourt from a “sell” rating to a “hold” rating in a research report on Wednesday, July 3rd. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $9.50.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Private Capital Group LLC raised its stake in shares of Houghton Mifflin Harcourt by 91.3% in the first quarter. Private Capital Group LLC now owns 4,400 shares of the business services provider’s stock worth $32,000 after buying an additional 2,100 shares during the period. Macquarie Group Ltd. raised its stake in shares of Houghton Mifflin Harcourt by 2.7% in the fourth quarter. Macquarie Group Ltd. now owns 138,974 shares of the business services provider’s stock worth $1,231,000 after buying an additional 3,614 shares during the period. Swiss National Bank raised its stake in shares of Houghton Mifflin Harcourt by 2.2% in the second quarter. Swiss National Bank now owns 195,600 shares of the business services provider’s stock worth $1,127,000 after buying an additional 4,200 shares during the period. Acadian Asset Management LLC raised its stake in shares of Houghton Mifflin Harcourt by 40.5% in the second quarter. Acadian Asset Management LLC now owns 18,033 shares of the business services provider’s stock worth $104,000 after buying an additional 5,201 shares during the period. Finally, Aperio Group LLC bought a new position in shares of Houghton Mifflin Harcourt in the second quarter worth about $41,000. 94.88% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:HMHC traded down $0.14 on Thursday, hitting $5.16. The stock had a trading volume of 813,800 shares, compared to its average volume of 718,514. The stock has a market cap of $684.98 million, a price-to-earnings ratio of -4.87 and a beta of 0.92. The company has a quick ratio of 0.63, a current ratio of 1.20 and a debt-to-equity ratio of 1.37. The business’s 50-day simple moving average is $5.56 and its two-hundred day simple moving average is $6.92. Houghton Mifflin Harcourt has a 52-week low of $4.72 and a 52-week high of $10.64.

About Houghton Mifflin Harcourt

Houghton Mifflin Harcourt Company, a learning company, provides curriculum, supplemental, and intervention solutions; and professional learning services 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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