FY2017 Earnings Estimate for HC2 Holdings Inc Issued By B. Riley (HCHC)
HC2 Holdings Inc (NASDAQ:HCHC) – Research analysts at B. Riley cut their FY2017 earnings per share (EPS) estimates for shares of HC2 Holdings in a research note issued on Thursday. B. Riley analyst S. Sherbetchyan now forecasts that the technology company will earn ($1.11) per share for the year, down from their prior forecast of ($1.00). B. Riley currently has a “Buy” rating and a $11.50 target price on the stock. B. Riley also issued estimates for HC2 Holdings’ Q4 2017 earnings at ($0.16) EPS.
HC2 Holdings (NASDAQ:HCHC) last posted its earnings results on Wednesday, November 8th. The technology company reported ($0.16) EPS for the quarter, missing the Zacks’ consensus estimate 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. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the firm posted ($0.20) earnings per share.
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Separately, Zacks Investment Research raised HC2 Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th.
Shares of HC2 Holdings (NASDAQ HCHC) opened at $5.02 on Monday. HC2 Holdings has a fifty-two week low of $4.22 and a fifty-two week high of $7.27.
Several hedge funds have recently added to or reduced their stakes in HCHC. B. Riley Financial Inc. boosted its stake in shares of HC2 Holdings by 114.9% in the 2nd quarter. B. Riley Financial Inc. now owns 1,434,511 shares of the technology company’s stock worth $8,435,000 after buying an additional 766,861 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of HC2 Holdings by 51.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,574,500 shares of the technology company’s stock worth $8,455,000 after buying an additional 533,100 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of HC2 Holdings by 24.6% in the 1st quarter. Vanguard Group Inc. now owns 1,363,811 shares of the technology company’s stock worth $8,456,000 after buying an additional 269,259 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of HC2 Holdings by 109.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 510,588 shares of the technology company’s stock worth $3,166,000 after buying an additional 267,370 shares during the last quarter. Finally, Benefit Street Partners LLC boosted its stake in shares of HC2 Holdings by 28.7% in the 2nd quarter. Benefit Street Partners LLC now owns 787,821 shares of the technology company’s stock worth $4,632,000 after buying an additional 175,752 shares during the last quarter.
About HC2 Holdings
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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