It's been a rough few years for Scholastic Corp (SCHL), the global children's publishing, education and media company. The recent recession caused school budgets to be cut across the country, which depressed the company's earnings. On top on this, the company has seen a run-off in revenues from its Harry Potter and The Hunger Games content.
But, the company is now reaching an inflection point in its business. The United Sates is moving to a Common Core curriculum, which will cause increased purchases of the company's educational content. Lucky for the education industry (and SCHL), state budgets have started to rebound, and we have even seen some states increase their budgets specifically for this new curriculum. On top...
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