HC2 Holdings Inc (HCHC) Given $11.50 Average Target Price by Brokerages
HC2 Holdings Inc (NYSE:HCHC) has earned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy recommendation.
Analysts have set a 1-year consensus price target of $11.50 for the company and are expecting that the company will post ($0.16) earnings per share for the current quarter, according to Zacks. Zacks has also assigned HC2 an industry rank of 111 out of 265 based on the ratings given to related companies.
HCHC has been the topic of several research analyst reports. B. Riley set a $10.00 price objective on shares of HC2 and gave the stock a “buy” rating in a research note on Monday, October 23rd. Zacks Investment Research downgraded shares of HC2 from a “hold” rating to a “sell” rating in a research note on Monday, November 13th.
Shares of HC2 (NYSE:HCHC) opened at $5.96 on Friday. The company has a debt-to-equity ratio of 6.06, a quick ratio of 1.34 and a current ratio of 1.34. HC2 has a 52 week low of $4.30 and a 52 week high of $7.27.
HC2 (NYSE:HCHC) last announced its quarterly earnings data on Wednesday, November 8th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.07). The company had revenue of $406.40 million during the quarter, compared to analyst estimates of $428.04 million. HC2 had a negative return on equity of 67.69% and a negative net margin of 6.13%. The company’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.20) EPS. sell-side analysts expect that HC2 will post -1.11 EPS for the current year.
In related news, insider Suzi R. Herbst sold 5,303 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $4.99, for a total value of $26,461.97. Following the completion of the transaction, the insider now directly owns 27,493 shares of the company’s stock, valued at $137,190.07. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert V. Leffler, Jr. sold 20,000 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $5.00, for a total value of $100,000.00. Following the completion of the transaction, the director now directly owns 19,779 shares of the company’s stock, valued at $98,895. The disclosure for this sale can be found here. Company insiders own 16.00% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. New York State Common Retirement Fund lifted its position in HC2 by 5.6% in the second quarter. New York State Common Retirement Fund now owns 26,200 shares of the technology company’s stock worth $154,000 after purchasing an additional 1,399 shares during the period. Goldman Sachs Group Inc. lifted its position in HC2 by 7.1% in the first quarter. Goldman Sachs Group Inc. now owns 29,217 shares of the technology company’s stock worth $181,000 after purchasing an additional 1,931 shares during the period. Voya Investment Management LLC lifted its position in HC2 by 29.2% in the second quarter. Voya Investment Management LLC now owns 20,115 shares of the technology company’s stock worth $118,000 after purchasing an additional 4,546 shares during the period. California State Teachers Retirement System lifted its position in HC2 by 7.4% in the second quarter. California State Teachers Retirement System now owns 72,211 shares of the technology company’s stock worth $425,000 after purchasing an additional 5,000 shares during the period. Finally, Wells Fargo & Company MN lifted its position in HC2 by 20.2% in the second quarter. Wells Fargo & Company MN now owns 39,375 shares of the technology company’s stock worth $232,000 after purchasing an additional 6,623 shares during the period. 59.94% of the stock is owned by hedge funds and other institutional investors.
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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