School Specialty Hits 52-Week Low (SCHS)

Shares of School Specialty, Inc. SCHS are trading down 6.2% at $12.99 per share during the Thursday afternoon trading session. The day's trading range for shares of School Specialty, Inc has been between a 52-week low of $12.16 and $13.43 per share. Analysts covering the company's stock give it a consensus price target of $18.00 per share. Volume of 489,000 shares is already more than triple the daily average volume of 132,000 shares. School Specialty, Inc. (SCHS) announced on Thursday morning that it missed consensus Wall Street earnings expectations. School Specialty, Inc announced 2nd quarter earnings per share of 96 cents, on revenue of $291.88 million. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of $1.20 per share, on revenue of $290.75 million. President and chief executive officer David Vander Zanden said, "School budget pressures reduced revenue slightly from our expectations in Accelerated Learning. We are seeing some states perform better as state and local revenue collections improve, and continue to believe that this school year represents the bottom of the cycle. We are increasing our marketing expenditures in Educational Resources as we go through the next several quarters, and expect to see improvements in consumables revenue in the fourth quarter of this year." Read more from Benzinga's Company news.