Benchmark Has Hold Rating On Harte-Hanks (HHS)

Benchmark Capital has a Hold rating and a $10 price target on shares of Harte-Hanks HHS. In a note to investors, Benchmark writes, "Harte-Hanks reported disappointing 1Q11 results, mainly due to a decline in Shoppers revenues and higher Direct Marketing operating expenses. 1Q11 revenue of $200 million was flat y/y, $6 million below consensus and our estimate as a 10% decline in Shoppers offset a 5% increase in Direct Marketing. Operating costs rose 2% leading to a 19% y/y decline in EBITDA to $20 million. EPS of 0.12 was below consensus at $0.17 and our $0.18 estimate." Shares of HHS lost 15 cents on Friday to close at $9.29, a loss of 1.6%.