Revenue Update on HC2 Holdings Inc(NYSEMKT:HCHC)

HC2 Holdings Inc(NYSEMKT:HCHC) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 9, 2016. Company reported revenue of $359.29M. Analysts estimated a revenue of $362.12M. Earnings per share were $0.02. Analysts had estimated an EPS of $-0.30.

In a different note, B. Riley said it Initiates Coverage on HC2 Holdings Inc, according to a research note issued on Jun 21, 2016. The shares have been rated ‘Buy’ by the firm.

HC2 Holdings Inc (HCHC) made into the market gainers list on Wednesdays trading session with the shares advancing 2.27% or 0.1 points. Due to strong positive momentum, the stock ended at $4.5, which is also near the day’s high of $4.5. The stock began the session at $4.36 and the volume stood at 2,57,789 shares. The 52-week high of the shares is $8.7 and the 52 week low is $3.25. The company has a current market capitalization of $159 M and it has 3,54,36,527 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Oct 15, 2015, Group, Inc. Hrg (10% owner) sold 4,678,395 shares at $7.50 per share price.Also, On Oct 9, 2015, Philip Falcone (CEO) purchased 540,000 shares at $7.50 per share price.

HC2 Holdings Inc. is a diversified holding company. The Company has a diverse array of operating subsidiaries across six reportable segments including Manufacturing Marine Services Utilities Telecommunications Life Sciences and Other. Its largest operating subsidiaries are Schuff International Inc. a structural steel fabricator and erector in the United States and Global Marine Systems Limited a provider of engineering and underwater services on submarine cables.

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