In a report released today, Zach Cummins from B.Riley FBR maintained a Hold rating on Cambium Learning Group (NASDAQ: ABCD), with a price target of $14.50. The company’s shares opened today at $14.45, close to its 52-week high of $14.53.
“Cambium Learning Group (ABCD) reported solid 3Q results. Revenues were in line with our estimate, which also serves as consensus, as higher revenues in the ExploreLearning (EL) and Voyager Sopris Learning (VSL) segments were offset by the lower revenues in the Learning A- Z (LAZ) segment. Total bookings exceeded our estimate as higher EL and VSL bookings more than offset the slightly lower LAZ bookings. Gross margin was slightly below our assumption due to a higher mix of lower-margin VSL revenue, but pro forma operating expenses, which exclude merger and acquisition related expenses, were lower than our model. As a result adjusted EBITDA and cash income per share exceeded our estimate.”
According to TipRanks.com, Cummins has 0 stars on 0-5 star ranking scale with an average return of -14.2% and a 14.3% success rate. Cummins covers the Technology sector, focusing on stocks such as ServiceSource International Inc, Cornerstone Ondemand, and American Software.
Currently, the analyst consensus on Cambium Learning Group is a Hold with an average price target of $14.50.
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The company has a one-year high of $14.53 and a one-year low of $5.19. Currently, Cambium Learning Group has an average volume of 250.9K.
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Cambium Learning Group, Inc. engages in the provision of educational solutions and services. It operates through the following business segments: Learning A-Z, Voyager Sopris Learning, and ExplorLearning. The Learning A-Z segment offers technology-enabled learning resources for PreK-6 education.