HMHC
Houghton Mifflin Harcourt Company
TMT, Consumer
01/26/2015
Presented
| Date | 01/22/2015 |
| Price | $19.91 |
| Market Cap | $2.82B |
| Ent Value | $2.47B |
| P/E Ratio | N/A |
| Book Value | $13.08 |
| Div Yield | N/A |
| Shares O/S | 141.48M |
| Ave Daily Vol | 640,000 |
| Short Int | 1.97% |
Current
| Price | $21.03 |
| Market Cap | $2.61B |
| Houghton Mifflin Harcourt Company provides education solutions for educational institutions and consumers worldwide. It delivers content, technology, services, and media to approximately 50 million students. The company operates in two segments, Education and Trade Publishing. The Education segment develops, publishes, and markets various comprehensive curriculum programs that focus on reading, literature and language arts, mathematics, science, world languages, and social studies for the pre-K-12 market; and comprehensive intervention solutions for assisting English language learners, as well as products providing incremental instruction in a particular subject area. It also provides Heinemann products comprising professional books and developmental resources to pre-K-12 teachers; and consulting services, such as learning resources that are supported with professional development in classroom assessment, teacher effectiveness, and high impact leadership. In addition, this segment offers district and state level solutions focused on clinical, group and formative assessment tools, and platform solutions. This segment provides its services under the Heinemann, Riverside, Holt McDougal, Great Source, Rigby, Saxon, Steck-Vaughn, and Math in Focus brands. The Trade Publishing segment develops, markets, and sells consumer books in print and digital format, as well as licenses book rights to other publishers and electronic businesses. This segment offers a library of general interest, adult and children’s, and reference works that include well-known characters and brands. The company was formerly known as HMH Holdings (Delaware), Inc. and changed its name to Houghton Mifflin Harcourt Company in October 2013. Houghton Mifflin Harcourt Company is headquartered in Boston, Massachusetts. |
Publicly traded companies mentioned herein: Houghton Mifflin Harcourt (HMHC), Pearson plc (PSO).
Highlights
The presenter’s firm has spent a great deal of time looking into the potential disintermediation of traditional textbook publishers, ultimately concluding that open source publishing could materially impact businesses meaningfully levered to college level education. Surprisingly, however, his research has also led to the conclusion that publishers focused on K-12 education could well be insulated from disintermediation - or at least, temporarily - leading him to evaluate shares of Houghton Mifflin Harcourt post bankruptcy.
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