Scholastic Corp. (SCHL) Updates FY17 Earnings Guidance
Scholastic Corp. (NASDAQ:SCHL) updated its FY17 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.60-1.70 for the period, compared to the Thomson Reuters consensus estimate of $1.66. The company issued revenue guidance of $1.7-1.8 billion, compared to the consensus revenue estimate of $1.77 billion.
Several brokerages have recently issued reports on SCHL. Zacks Investment Research lowered shares of Scholastic Corp. from a buy rating to a hold rating in a research note on Monday, May 30th. TheStreet upgraded shares of Scholastic Corp. from a hold rating to a buy rating in a research note on Thursday, July 21st.
Scholastic Corp. (NASDAQ:SCHL) opened at 39.32 on Friday. Scholastic Corp. has a 1-year low of $30.34 and a 1-year high of $44.24. The company has a 50-day moving average of $40.06 and a 200-day moving average of $38.56. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 33.90 and a beta of 0.59.
Scholastic Corp. (NASDAQ:SCHL) last issued its earnings results on Thursday, September 22nd. The company reported ($1.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.17) by $0.02. The firm had revenue of $282.70 million for the quarter, compared to the consensus estimate of $286.50 million. Scholastic Corp. had a net margin of 2.42% and a return on equity of 4.85%. The business’s revenue was up 47.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.42) earnings per share. Analysts anticipate that Scholastic Corp. will post $1.66 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Monday, October 31st will be paid a $0.15 dividend. The ex-dividend date is Thursday, October 27th. This represents a $0.60 annualized dividend and a dividend yield of 1.53%. Scholastic Corp.’s dividend payout ratio is presently 56.07%.
In related news, CFO Maureen Oconnell sold 56,526 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 51,818 shares in the company, valued at $2,072,720. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Alan J. Boyko sold 12,720 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 33,820 shares in the company, valued at approximately $1,395,075. The disclosure for this sale can be found here. 24.16% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Advisors LLC increased its position in shares of Scholastic Corp. by 4.0% in the second quarter. BlackRock Advisors LLC now owns 12,630 shares of the company’s stock worth $500,000 after buying an additional 481 shares during the period. BlackRock Investment Management LLC increased its position in shares of Scholastic Corp. by 8.7% in the second quarter. BlackRock Investment Management LLC now owns 122,662 shares of the company’s stock worth $4,859,000 after buying an additional 9,829 shares during the period. BlackRock Inc. increased its position in shares of Scholastic Corp. by 356.2% in the second quarter. BlackRock Inc. now owns 7,710 shares of the company’s stock worth $306,000 after buying an additional 6,020 shares during the period. BlackRock Fund Advisors increased its position in shares of Scholastic Corp. by 3.8% in the second quarter. BlackRock Fund Advisors now owns 1,760,467 shares of the company’s stock worth $69,732,000 after buying an additional 64,701 shares during the period. Finally, BlackRock Group LTD increased its position in shares of Scholastic Corp. by 4.7% in the second quarter. BlackRock Group LTD now owns 42,036 shares of the company’s stock worth $1,666,000 after buying an additional 1,906 shares during the period. Institutional investors own 82.58% of the company’s stock.
About Scholastic Corp.
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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