HC2 Holdings Inc (HCHC) Given Average Rating of “Strong Buy” by Analysts

Shares of HC2 Holdings Inc (NYSE:HCHC) have earned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Brokers have set a 1-year consensus target price of $11.50 for the company and are anticipating that the company will post ($0.16) EPS for the current quarter, according to Zacks. Zacks has also given HC2 an industry rank of 109 out of 265 based on the ratings given to related companies.

Several equities research analysts recently commented on HCHC shares. B. Riley reissued a “buy” rating and issued a $11.50 price target on shares of HC2 in a research note on Monday, November 20th. Zacks Investment Research cut HC2 from a “hold” rating to a “sell” rating in a research note on Monday, November 13th.

HC2 (NYSE:HCHC) traded down $0.03 during midday trading on Friday, reaching $5.98. The company’s stock had a trading volume of 122,241 shares, compared to its average volume of 168,583. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 6.06. The firm has a market cap of $256.18, a P/E ratio of -2.33 and a beta of 0.66. HC2 has a 12-month low of $4.30 and a 12-month high of $7.27.

HC2 (NYSE:HCHC) last issued its earnings results on Wednesday, November 8th. The technology company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.07). The business had revenue of $406.40 million during the quarter, compared to analyst estimates of $428.04 million. HC2 had a negative net margin of 6.13% and a negative return on equity of 67.69%. HC2’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.20) EPS. research analysts forecast that HC2 will post -1.11 earnings per share for the current fiscal year.

In other HC2 news, insider Suzi R. Herbst sold 5,303 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $4.99, for a total transaction of $26,461.97. Following the completion of the sale, the insider now owns 27,493 shares of the company’s stock, valued at $137,190.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert V. Leffler, Jr. sold 20,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 19,779 shares of the company’s stock, valued at approximately $98,895. The disclosure for this sale can be found here. 16.00% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of HCHC. Vanguard Group Inc. raised its stake in shares of HC2 by 24.6% in the first quarter. Vanguard Group Inc. now owns 1,363,811 shares of the technology company’s stock valued at $8,456,000 after purchasing an additional 269,259 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of HC2 by 16.4% in the first quarter. Geode Capital Management LLC now owns 251,046 shares of the technology company’s stock valued at $1,556,000 after purchasing an additional 35,290 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of HC2 by 109.9% in the first quarter. Dimensional Fund Advisors LP now owns 510,588 shares of the technology company’s stock valued at $3,166,000 after purchasing an additional 267,370 shares in the last quarter. Bank of America Corp DE raised its stake in shares of HC2 by 159.1% in the first quarter. Bank of America Corp DE now owns 17,065 shares of the technology company’s stock valued at $106,000 after purchasing an additional 10,479 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of HC2 by 7.1% in the first quarter. Goldman Sachs Group Inc. now owns 29,217 shares of the technology company’s stock valued at $181,000 after purchasing an additional 1,931 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.

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About HC2

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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