Today: The Research Analysts Issue Forecasts for Houston Wire & Cable Co.’s FY2016 Earnings (HWCC)

The Research Analysts Issue Forecasts for Houston Wire & Cable Co.’s FY2016 Earnings (HWCC)

Houston Wire & Cable Co. (NASDAQ:HWCC) – Equities research analysts at William Blair issued their FY2016 earnings per share (EPS) estimates for shares of Houston Wire & Cable Co. in a note issued to investors on Monday. William Blair analyst R. Merkel anticipates that the firm will post earnings per share of ($0.08) for the year. William Blair also issued estimates for Houston Wire & Cable Co.’s Q4 2016 earnings at ($0.01) EPS and FY2017 earnings at $0.09 EPS.

Houston Wire & Cable Co. (NASDAQ:HWCC) last posted its quarterly earnings results on Tuesday, August 9th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.01 by $0.17. The business earned $62.50 million during the quarter, compared to analysts’ expectations of $67.09 million. Houston Wire & Cable Co. had a negative net margin of 0.82% and a positive return on equity of 0.63%. The firm’s quarterly revenue was down 19.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.09 EPS.

Separately, Zacks Investment Research raised Houston Wire & Cable Co. from a “strong sell” rating to a “hold” rating and set a $7.00 price target for the company in a research note on Tuesday.

Shares of Houston Wire & Cable Co. (NASDAQ:HWCC) opened at 6.20 on Wednesday. The firm has a 50-day moving average price of $5.96 and a 200 day moving average price of $5.98. The stock’s market cap is $102.11 million. Houston Wire & Cable Co. has a 12-month low of $4.79 and a 12-month high of $7.71.

A number of hedge funds and other institutional investors have recently made changes to their positions in HWCC. Isthmus Partners LLC boosted its position in shares of Houston Wire & Cable Co. by 1.6% in the second quarter. Isthmus Partners LLC now owns 74,757 shares of the company’s stock valued at $392,000 after buying an additional 1,212 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Houston Wire & Cable Co. by 0.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 453,029 shares of the company’s stock valued at $2,378,000 after buying an additional 1,267 shares in the last quarter. Algert Global LLC boosted its position in shares of Houston Wire & Cable Co. by 10.6% in the second quarter. Algert Global LLC now owns 49,715 shares of the company’s stock valued at $261,000 after buying an additional 4,754 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Houston Wire & Cable Co. by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 273,384 shares of the company’s stock valued at $1,435,000 after buying an additional 5,770 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of Houston Wire & Cable Co. by 13.3% in the second quarter. Acadian Asset Management LLC now owns 86,318 shares of the company’s stock valued at $454,000 after buying an additional 10,145 shares in the last quarter. 69.41% of the stock is owned by institutional investors and hedge funds.

About Houston Wire & Cable Co.

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