Scholastic Corp. (NASDAQ:SCHL) has received an average broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. Scholastic Corp.’s rating score has declined by 19.8% in the last 90 days as a result of a number of analysts’ upgrades and downgrades.
Brokerages have set a 12 month consensus target price of $39.00 for the company and are expecting that the company will post $1.92 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Scholastic Corp. an industry rank of 34 out of 265 based on the ratings given to its competitors.
SCHL has been the subject of several analyst reports. TheStreet upgraded Scholastic Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, July 21st. Zacks Investment Research cut Scholastic Corp. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 26th.
Shares of Scholastic Corp. (NASDAQ:SCHL) opened at 38.54 on Monday. The firm’s 50-day moving average is $39.25 and its 200 day moving average is $38.84. Scholastic Corp. has a 52 week low of $30.34 and a 52 week high of $44.24. The firm has a market cap of $1.33 billion, a PE ratio of 26.95 and a beta of 0.66.
Scholastic Corp. (NASDAQ:SCHL) last issued its quarterly earnings data on Thursday, September 22nd. The company reported ($1.15) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.17) by $0.02. Scholastic Corp. had a return on equity of 5.45% and a net margin of 2.85%. The company earned $282.70 million during the quarter. During the same quarter in the prior year, the firm posted ($1.42) EPS. Scholastic Corp.’s quarterly revenue was up 47.9% compared to the same quarter last year. Equities research analysts forecast that Scholastic Corp. will post $1.66 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Monday, October 31st will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Thursday, October 27th. Scholastic Corp.’s payout ratio is 42.86%.
In other Scholastic Corp. news, EVP Judith Newman sold 7,600 shares of the stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $41.30, for a total value of $313,880.00. Following the completion of the transaction, the executive vice president now owns 30,391 shares in the company, valued at $1,255,148.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alan J. Boyko sold 12,720 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $41.25, for a total value of $524,700.00. Following the completion of the transaction, the insider now owns 33,820 shares of the company’s stock, valued at approximately $1,395,075. The disclosure for this sale can be found here. 24.16% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SCHL. PineBridge Investments L.P. boosted its position in Scholastic Corp. by 2.7% in the second quarter. PineBridge Investments L.P. now owns 3,363 shares of the company’s stock valued at $134,000 after buying an additional 89 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Scholastic Corp. by 22.6% in the second quarter. Teacher Retirement System of Texas now owns 3,668 shares of the company’s stock valued at $145,000 after buying an additional 677 shares during the last quarter. Bessemer Group Inc. boosted its position in Scholastic Corp. by 12.0% in the second quarter. Bessemer Group Inc. now owns 3,915 shares of the company’s stock valued at $155,000 after buying an additional 420 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Scholastic Corp. by 5.7% in the second quarter. Public Employees Retirement System of Ohio now owns 3,907 shares of the company’s stock valued at $155,000 after buying an additional 209 shares during the last quarter. Finally, Mason Street Advisors LLC acquired a new position in Scholastic Corp. during the second quarter valued at about $206,000. Hedge funds and other institutional investors own 82.10% of the company’s stock.
Scholastic Corp. Company Profile
Scholastic Corporation is a publisher and distributor of children’s books. The Company has three segments: Children’s Book Publishing and Distribution, Education and International. The Company’s Children’s Book Publishing and Distribution segment includes the publication and distribution of children’s books, e-books, media and interactive products in the United States through its book clubs and book fairs in its school channels and through the trade channel.
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