HC2 Holdings (HCHC - Free Report) closed at $3.47 in the latest trading session, marking no change from the prior day. This change lagged the S&P 500's daily gain of 1.32%. At the same time, the Dow added 1.38%, and the tech-heavy Nasdaq gained 1.74%.
Heading into today, shares of the diversified holding company had gained 38.8% over the past month, outpacing the Conglomerates sector's gain of 5.58% and the S&P 500's gain of 4.16% 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 -$0.16 per share, which would represent a year-over-year decline of 23.08%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $487.29 million, up 6.28% from the year-ago period.
Any recent changes to analyst estimates for HCHC should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. HCHC is currently sporting a Zacks Rank of #2 (Buy).
The Diversified Operations industry is part of the Conglomerates sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.