Scholastic Corp. (SCHL) Sees Large Volume Increase
Scholastic Corp. (NASDAQ:SCHL) saw unusually-strong trading volume on Tuesday . Approximately 207,381 shares traded hands during trading, an increase of 78% from the previous session’s volume of 116,834 shares.The stock last traded at $40.13 and had previously closed at $40.25.
Several analysts recently issued reports on SCHL shares. Zacks Investment Research lowered Scholastic Corp. from a “buy” rating to a “hold” rating in a report on Monday, May 30th. TheStreet upgraded Scholastic Corp. from a “hold” rating to a “buy” rating in a report on Thursday, July 21st.
The firm’s 50-day moving average is $40.71 and its 200-day moving average is $37.84. The company has a market cap of $1.38 billion and a P/E ratio of 34.59.
Scholastic Corp. (NASDAQ:SCHL) last issued its earnings results on Thursday, July 21st. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $0.95 by $0.27. During the same quarter in the previous year, the firm posted $0.93 EPS. The business had revenue of $513.80 million for the quarter, compared to the consensus estimate of $501.60 million. The business’s revenue was up 5.4% on a year-over-year basis. Equities research analysts anticipate that Scholastic Corp. will post $1.67 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Monday, August 29th.
In other Scholastic Corp. news, CFO Maureen Oconnell sold 56,526 shares of the company’s stock in a transaction on Monday, July 11th. The shares were sold at an average price of $40.00, for a total transaction of $2,261,040.00. Following the completion of the sale, the chief financial officer now owns 51,818 shares in the company, valued at approximately $2,072,720. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Alan J. Boyko sold 12,720 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $41.25, for a total transaction of $524,700.00. Following the sale, 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.
A hedge fund recently raised its stake in Scholastic Corp. stock. Wells Fargo & Company MN boosted its stake in shares of Scholastic Corp. (NASDAQ:SCHL) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 301,199 shares of the company’s stock after buying an additional 2,073 shares during the period. Wells Fargo & Company MN owned about 0.88% of Scholastic Corp. worth $11,614,000 at the end of the most recent quarter.
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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