Zacks: Scholastic Corp. (SCHL) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of Scholastic Corp. (NASDAQ:SCHL) have been assigned a consensus broker rating score of 2.00 (Buy) from the two analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has issued a strong buy rating on the company. Scholastic Corp.’s rating score has declined by 19.8% from three months ago as a result of various analysts’ ratings changes.
Brokerages have set a twelve-month consensus price objective of $39.00 for the company and are forecasting that the company will post $1.92 EPS for the current quarter, according to Zacks. Zacks has also given Scholastic Corp. an industry rank of 33 out of 265 based on the ratings given to related companies.
SCHL has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Scholastic Corp. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 26th. TheStreet downgraded shares of Scholastic Corp. from a “buy” rating to a “hold” rating in a research note on Monday, October 10th.
Scholastic Corp. (NASDAQ:SCHL) opened at 38.00 on Monday. The firm has a market cap of $1.31 billion, a P/E ratio of 26.57 and a beta of 0.66. Scholastic Corp. has a 1-year low of $30.34 and a 1-year high of $44.24. The firm has a 50-day moving average of $39.13 and a 200 day moving average of $38.84.
Scholastic Corp. (NASDAQ:SCHL) last issued its earnings results on Thursday, September 22nd. The company reported ($1.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.17) by $0.02. Scholastic Corp. had a net margin of 2.85% and a return on equity of 5.45%. The business had revenue of $282.70 million for the quarter. During the same period in the prior year, the business posted ($1.42) EPS. The business’s revenue was up 47.9% on a year-over-year basis. On average, analysts predict that Scholastic Corp. will post $1.66 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Monday, October 31st will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.58%. The ex-dividend date is Thursday, October 27th. Scholastic Corp.’s dividend payout ratio (DPR) is 42.86%.
In related news, CEO Richard Robinson sold 18,158 shares of Scholastic Corp. stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $40.68, for a total transaction of $738,667.44. Following the sale, the chief executive officer now owns 4,390,978 shares of the company’s stock, valued at approximately $178,624,985.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alan J. Boyko sold 12,720 shares of Scholastic Corp. stock in a transaction on Monday, August 1st. The stock was sold at an average price of $41.25, for a total transaction of $524,700.00. Following the sale, the insider now directly owns 33,820 shares in the company, valued at approximately $1,395,075. The disclosure for this sale can be found here. Corporate insiders own 24.16% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its stake in Scholastic Corp. by 0.7% in the second quarter. Nisa Investment Advisors LLC now owns 28,800 shares of the company’s stock valued at $1,141,000 after buying an additional 200 shares during the period. BlackRock Institutional Trust Company N.A. raised 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 valued at $25,023,000 after buying an additional 10,785 shares in the last quarter. UBS Group AG raised 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 valued at $2,153,000 after buying an additional 8,680 shares in the last quarter. Suntrust Banks Inc. raised its position in shares of Scholastic Corp. by 0.7% in the second quarter. Suntrust Banks Inc. now owns 44,026 shares of the company’s stock valued at $1,743,000 after buying an additional 306 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in shares of Scholastic Corp. by 3.9% in the second quarter. California Public Employees Retirement System now owns 140,000 shares of the company’s stock valued at $5,545,000 after buying an additional 5,200 shares in the last quarter. 82.10% of the stock is currently owned by hedge funds and other 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Scholastic Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scholastic Corp. and related companies with MarketBeat.com's FREE daily email newsletter.