William Blair Brokers Decrease Earnings Estimates for Houston Wire & Cable Company (HWCC)

Houston Wire & Cable Company (NASDAQ:HWCC) – Analysts at William Blair cut their Q1 2017 earnings estimates for Houston Wire & Cable Company in a note issued to investors on Thursday. William Blair analyst R. Merkel now expects that the brokerage will post earnings of $0.01 per share for the quarter, down from their previous forecast of $0.02. William Blair also issued estimates for Houston Wire & Cable Company’s Q2 2017 earnings at $0.01 EPS, FY2017 earnings at ($0.01) EPS and FY2018 earnings at $0.08 EPS.

Several other research firms have also recently weighed in on HWCC. Zacks Investment Research raised Houston Wire & Cable Company from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 10th. KeyCorp assumed coverage on Houston Wire & Cable Company in a report on Wednesday, November 30th. They issued a “sector weight” rating on the stock.

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Houston Wire & Cable Company (NASDAQ:HWCC) opened at 6.80 on Monday. The firm’s market capitalization is $111.38 million. The firm has a 50-day moving average price of $6.87 and a 200 day moving average price of $6.34. Houston Wire & Cable Company has a 52 week low of $5.10 and a 52 week high of $8.05.

Houston Wire & Cable Company (NASDAQ:HWCC) last issued its quarterly earnings results on Thursday, March 16th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by $0.09. Houston Wire & Cable Company had a negative net margin of 1.67% and a negative return on equity of 1.94%. The business earned $69.26 million during the quarter, compared to analyst estimates of $71.78 million. During the same period last year, the firm posted $0.03 earnings per share. Houston Wire & Cable Company’s quarterly revenue was down 1.5% compared to the same quarter last year.

Several hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. boosted its stake in Houston Wire & Cable Company by 24.5% in the fourth quarter. Franklin Resources Inc. now owns 185,000 shares of the company’s stock valued at $1,203,000 after buying an additional 36,400 shares during the last quarter. GSA Capital Partners LLP raised its position in shares of Houston Wire & Cable Company by 3.4% in the fourth quarter. GSA Capital Partners LLP now owns 63,135 shares of the company’s stock valued at $410,000 after buying an additional 2,100 shares during the period. Renaissance Technologies LLC raised its position in shares of Houston Wire & Cable Company by 21.1% in the fourth quarter. Renaissance Technologies LLC now owns 95,200 shares of the company’s stock valued at $619,000 after buying an additional 16,600 shares during the period. FMR LLC raised its position in shares of Houston Wire & Cable Company by 2.1% in the fourth quarter. FMR LLC now owns 1,456,183 shares of the company’s stock valued at $9,465,000 after buying an additional 30,600 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Houston Wire & Cable Company by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 969,769 shares of the company’s stock valued at $6,304,000 after buying an additional 10,179 shares during the period. 70.55% of the stock is currently owned by hedge funds and other institutional investors.

About Houston Wire & Cable Company

Houston Wire & Cable Company is a holding company. The Company is engaged in provision of electrical and mechanical wire and cable, hardware and related services. It operates through sales of wire and cable, hardware and related services segment in the United States market. Its cable management program includes purchasing and storing inventory for product availability.

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