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

Shares of HC2 Holdings Inc (NYSE:HCHC) have received an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.

Analysts have set a twelve-month consensus target price of $13.50 for the company and are forecasting that the company will post ($0.45) earnings per share for the current quarter, according to Zacks. Zacks has also assigned HC2 an industry rank of 120 out of 255 based on the ratings given to its competitors.

A number of research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of HC2 from a “sell” rating to a “hold” rating in a report on Thursday, July 12th. B. Riley upped their target price on shares of HC2 from $11.50 to $13.50 and gave the company a “buy” rating in a report on Friday, May 11th. Finally, ValuEngine upgraded shares of HC2 from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd.

HC2 opened at $5.80 on Monday, MarketBeat reports. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 5.19. HC2 has a 12-month low of $4.30 and a 12-month high of $7.79.

HC2 (NYSE:HCHC) last released its earnings results on Thursday, May 10th. The technology company reported ($0.81) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.49) by ($0.32). The firm had revenue of $453.69 million during the quarter, compared to analysts’ expectations of $376.32 million. HC2 had a negative net margin of 3.97% and a negative return on equity of 51.57%. research analysts predict that HC2 will post -1.8 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. lifted its holdings in shares of HC2 by 14.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 87,819 shares of the technology company’s stock worth $514,000 after acquiring an additional 11,019 shares during the period. Clear Harbor Asset Management LLC purchased a new position in shares of HC2 during the 2nd quarter worth about $146,000. CAPROCK Group Inc. lifted its holdings in shares of HC2 by 7.1% during the 2nd quarter. CAPROCK Group Inc. now owns 150,000 shares of the technology company’s stock worth $878,000 after acquiring an additional 10,000 shares during the period. MetLife Investment Advisors LLC purchased a new position in shares of HC2 during the 4th quarter worth about $126,000. Finally, Millennium Management LLC lifted its holdings in shares of HC2 by 468.2% during the 4th quarter. Millennium Management LLC now owns 73,300 shares of the technology company’s stock worth $436,000 after acquiring an additional 60,400 shares during the period. Institutional investors own 59.34% of the company’s stock.

HC2 Company Profile

HC2 Holdings, Inc engages in the construction, marine services, energy, telecommunications, insurance, 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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