Scholastic (SCHL) Board Announces Share Buyback Program

Scholastic (NASDAQ:SCHL) announced that its board has approved a share repurchase program, which authorizes the company to repurchase $50.00 million in shares on Wednesday, March 21st, EventVestor reports. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

A number of research firms have commented on SCHL. BidaskClub raised shares of Scholastic from a “sell” rating to a “hold” rating in a research report on Sunday, February 11th. Gabelli reaffirmed a “buy” rating on shares of Scholastic in a research report on Friday. TheStreet raised shares of Scholastic from a “c” rating to a “b-” rating in a research report on Thursday, December 14th. Stifel Nicolaus lifted their target price on shares of Scholastic from $38.00 to $41.00 and gave the stock a “hold” rating in a research report on Wednesday, December 13th. Finally, Zacks Investment Research downgraded shares of Scholastic from a “hold” rating to a “sell” rating in a research report on Friday, December 15th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $45.50.

How to Become a New Pot Stock Millionaire

Shares of Scholastic stock opened at $36.58 on Friday. Scholastic has a 1 year low of $33.51 and a 1 year high of $46.59. The stock has a market cap of $1,314.18, a price-to-earnings ratio of -70.35 and a beta of 0.75.

Scholastic (NASDAQ:SCHL) last issued its quarterly earnings data on Wednesday, March 21st. The company reported ($0.30) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.05. Scholastic had a negative net margin of 1.00% and a positive return on equity of 3.57%. The firm had revenue of $344.70 million during the quarter, compared to the consensus estimate of $350.10 million. During the same quarter in the previous year, the firm posted ($0.36) EPS. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. equities analysts anticipate that Scholastic will post 1.4 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Monday, April 30th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Friday, April 27th. Scholastic’s payout ratio is -115.38%.

In other news, EVP Judith Newman sold 2,500 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $39.36, for a total transaction of $98,400.00. Following the completion of the sale, the executive vice president now owns 17,269 shares of the company’s stock, valued at approximately $679,707.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 22.30% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece was originally reported by Ticker Report and is the property of of Ticker Report. If you are reading this piece on another publication, it was stolen and republished in violation of U.S. & international trademark & copyright laws. The correct version of this piece can be viewed at https://www.tickerreport.com/banking-finance/3297748/scholastic-schl-board-announces-share-buyback-program.html.

Scholastic Company Profile

Scholastic Corporation, together with its subsidiaries, publishes and distributes children's books worldwide. It operates through three segments: Children's Book Publishing and Distribution, Education, and International. The Children's Book Publishing and Distribution segment engages in the publication and distribution of children's books, e-books, media, and interactive products through its school book clubs and book fairs, and trade channel.

Receive News & Ratings for Scholastic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scholastic and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Barrick Gold  Posts Quarterly  Earnings Results, Misses Estimates By $0.01 EPS
Barrick Gold Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS
Moelis & Company  Posts Quarterly  Earnings Results, Beats Expectations By $0.25 EPS
Moelis & Company Posts Quarterly Earnings Results, Beats Expectations By $0.25 EPS
Zacks: Brokerages Expect Apple  to Post $2.69 Earnings Per Share
Zacks: Brokerages Expect Apple to Post $2.69 Earnings Per Share
$0.26 EPS Expected for MoneyGram International Inc  This Quarter
$0.26 EPS Expected for MoneyGram International Inc This Quarter
Analyzing Target  & Its Competitors
Analyzing Target & Its Competitors
Critical Comparison: Ascena Retail Group  vs. Vince
Critical Comparison: Ascena Retail Group vs. Vince


© 2006-2018 Ticker Report. Google+.