Scholastic Corp. (SCHL) Lowered to Hold at TheStreet
Separately, Zacks Investment Research cut shares of 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) traded down 0.91% during mid-day trading on Monday, reaching $38.06. 106,605 shares of the company’s stock traded hands. The company’s 50 day moving average is $39.30 and its 200-day moving average is $38.85. 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 $1.31 billion, a price-to-earnings ratio of 26.62 and a beta of 0.66.
Scholastic Corp. (NASDAQ:SCHL) last issued its quarterly earnings results on Thursday, September 22nd. The company reported ($1.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.17) by $0.02. The business earned $282.70 million during the quarter. Scholastic Corp. had a net margin of 2.85% and a return on equity of 5.45%. The business’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same period in the prior year, the business earned ($1.42) EPS. Equities analysts expect that Scholastic Corp. will post $1.66 earnings per share for the current fiscal 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 paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $0.60 dividend on an annualized basis and a yield of 1.58%. Scholastic Corp.’s payout ratio is presently 42.86%.
In other Scholastic Corp. news, CEO Richard Robinson sold 18,158 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $40.68, for a total value of $738,667.44. Following the transaction, the chief executive officer now directly owns 4,390,978 shares of the company’s stock, valued at $178,624,985.04. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Judith Newman sold 7,600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $41.30, for a total transaction of $313,880.00. Following the completion of the transaction, the executive vice president now directly owns 30,391 shares in the company, valued at $1,255,148.30. The disclosure for this sale can be found here. 24.16% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the company. BlackRock Group LTD boosted its position in shares of Scholastic Corp. by 8.4% in the first quarter. BlackRock Group LTD now owns 40,130 shares of the company’s stock worth $1,500,000 after buying an additional 3,095 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Scholastic Corp. by 1.4% in the first quarter. BlackRock Fund Advisors now owns 1,695,766 shares of the company’s stock worth $63,371,000 after buying an additional 23,335 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Scholastic Corp. by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 669,603 shares of the company’s stock worth $25,023,000 after buying an additional 10,785 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of Scholastic Corp. by 23.7% in the first quarter. Lazard Asset Management LLC now owns 304,200 shares of the company’s stock worth $11,367,000 after buying an additional 58,255 shares in the last quarter. Finally, UBS Group AG boosted its position in shares of Scholastic Corp. by 17.7% in the first quarter. UBS Group AG now owns 57,613 shares of the company’s stock worth $2,153,000 after buying an additional 8,680 shares in the last quarter. 82.10% of the stock is currently owned by institutional investors.
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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