Brokerages Anticipate HC2 Holdings, Inc. (HCHC) to Announce ($0.16) Earnings Per Share
HC2 Holdings, Inc. (NYSE:HCHC) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Brokers have set a 12 month consensus price objective of $11.50 for the company and are forecasting that the company will post ($0.16) EPS for the current quarter, according to Zacks. Zacks has also given HC2 Holdings an industry rank of 118 out of 265 based on the ratings given to related companies.
Several research analysts have recently issued reports on HCHC shares. B. Riley restated a “buy” rating and issued a $10.00 price target on shares of HC2 Holdings in a research report on Sunday, August 13th. Zacks Investment Research lowered HC2 Holdings from a “hold” rating to a “sell” rating in a research report on Monday.
HC2 Holdings (HCHC) traded down $0.14 during mid-day trading on Thursday, reaching $4.82. The company had a trading volume of 226,400 shares, compared to its average volume of 219,284. HC2 Holdings has a 12-month low of $4.30 and a 12-month high of $7.27. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 6.06.
HC2 Holdings (NYSE:HCHC) last released its earnings results on Wednesday, November 8th. The technology company reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.07). The firm had revenue of $406.40 million during the quarter, compared to analyst estimates of $428.04 million. HC2 Holdings had a negative net margin of 6.13% and a negative return on equity of 67.69%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the business posted ($0.20) earnings per share. equities research analysts expect that HC2 Holdings will post -1.11 EPS for the current fiscal year.
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In other news, insider Suzi R. Herbst sold 5,303 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $4.99, for a total value of $26,461.97. Following the sale, the insider now directly owns 27,493 shares in the company, valued at $137,190.07. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert V. Leffler, Jr. sold 20,000 shares of HC2 Holdings stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $5.00, for a total value of $100,000.00. Following the completion of the sale, the director now directly owns 19,779 shares in the company, valued at approximately $98,895. The disclosure for this sale can be found here. Insiders own 16.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. American International Group Inc. increased its position in shares of HC2 Holdings by 7.1% in the first quarter. American International Group Inc. now owns 20,563 shares of the technology company’s stock valued at $127,000 after acquiring an additional 1,364 shares during the last quarter. New York State Common Retirement Fund increased its position in HC2 Holdings by 5.6% during the second quarter. New York State Common Retirement Fund now owns 26,200 shares of the technology company’s stock worth $154,000 after buying an additional 1,399 shares during the last quarter. Goldman Sachs Group Inc. increased its position in HC2 Holdings by 7.1% during the first quarter. Goldman Sachs Group Inc. now owns 29,217 shares of the technology company’s stock worth $181,000 after buying an additional 1,931 shares during the last quarter. Voya Investment Management LLC boosted its holdings in shares of HC2 Holdings by 29.2% during the second quarter. Voya Investment Management LLC now owns 20,115 shares of the technology company’s stock worth $118,000 after acquiring an additional 4,546 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in shares of HC2 Holdings by 7.4% during the second quarter. California State Teachers Retirement System now owns 72,211 shares of the technology company’s stock worth $425,000 after acquiring an additional 5,000 shares during the period. 61.12% of the stock is currently owned by institutional investors and hedge funds.
HC2 Holdings Company Profile
HC2 Holdings, Inc engages in construction, marine services, insurance, telecommunications, energy, 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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