B. Riley Analysts Lower Earnings Estimates for HC2 Holdings Inc (HCHC)

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HC2 Holdings Inc (NYSE:HCHC) – Equities researchers at B. Riley cut their Q3 2018 EPS estimates for shares of HC2 in a report released on Thursday, August 9th. B. Riley analyst S. Sherbetchyan now forecasts that the technology company will post earnings per share of ($0.38) for the quarter, down from their previous estimate of ($0.30). B. Riley has a “Buy” rating and a $13.50 price target on the stock. B. Riley also issued estimates for HC2’s FY2018 earnings at ($2.22) EPS and FY2019 earnings at ($1.25) EPS.

Other equities research analysts have also recently issued reports about the company. Zacks Investment Research upgraded HC2 from a “sell” rating to a “hold” rating in a report on Thursday, July 12th. ValuEngine upgraded HC2 from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd.

Shares of HCHC stock opened at $5.89 on Monday. HC2 has a 1-year low of $4.30 and a 1-year high of $7.79. The company has a debt-to-equity ratio of 4.16, a quick ratio of 1.24 and a current ratio of 1.55.

HC2 (NYSE:HCHC) last issued its earnings results on Wednesday, August 8th. The technology company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.24). The company had revenue of $496.78 million for the quarter, compared to analysts’ expectations of $454.23 million. HC2 had a net margin of 0.32% and a negative return on equity of 51.25%.

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in HC2 by 15.2% in the 2nd quarter. BlackRock Inc. now owns 2,246,847 shares of the technology company’s stock worth $13,144,000 after buying an additional 296,743 shares during the period. CAPROCK Group Inc. lifted its holdings in HC2 by 7.1% in the 2nd quarter. CAPROCK Group Inc. now owns 150,000 shares of the technology company’s stock worth $878,000 after buying an additional 10,000 shares during the period. Wells Fargo & Company MN lifted its holdings in HC2 by 58.5% in the 4th quarter. Wells Fargo & Company MN now owns 92,750 shares of the technology company’s stock worth $552,000 after buying an additional 34,227 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in HC2 by 14.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 87,819 shares of the technology company’s stock worth $514,000 after buying an additional 11,019 shares during the period. Finally, Millennium Management LLC lifted its holdings in HC2 by 468.2% in the 4th quarter. Millennium Management LLC now owns 73,300 shares of the technology company’s stock worth $436,000 after buying an additional 60,400 shares during the period. Institutional investors own 59.34% of the company’s stock.

About HC2

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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