In the latest trading session, HC2 Holdings (HCHC - Free Report) closed at $2.64, marking a +1.15% move from the previous day. This change outpaced the S&P 500's 0.85% gain on the day. Elsewhere, the Dow gained 1.15%, while the tech-heavy Nasdaq added 0.77%.
Prior to today's trading, shares of the diversified holding company had lost 17.92% over the past month. This has lagged the Conglomerates sector's loss of 8.46% and the S&P 500's loss of 9.35% in that time.
HCHC will be looking to display strength as it nears its next earnings release, which is expected to be March 13, 2019. On that day, HCHC is projected to report earnings of -$0.42 per share, which would represent a year-over-year decline of 223.08%. Our most recent consensus estimate is calling for quarterly revenue of $487.29 million, up 6.28% from the year-ago period.
Investors should also note any recent changes to analyst estimates for HCHC. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. HCHC is currently a Zacks Rank #1 (Strong Buy).
Valuation is also important, so investors should note that HCHC has a Forward P/E ratio of 0.72 right now. This represents a discount compared to its industry's average Forward P/E of 14.59.
The Diversified Operations industry is part of the Conglomerates sector. This industry currently has a Zacks Industry Rank of 153, which puts it in the bottom 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.