Zacks Investment Research downgraded shares of Scholastic Corporation (NASDAQ:SCHL) from a hold rating to a sell rating in a research note published on Wednesday morning.

According to Zacks, “Scholastic Corp. creates and distributes innovative and quality educational materials for use in school – children’s books, textbooks, magazines, technology and teacher materials and engaging and appropriate products for use at home – magazines, software, television programming, videos and toys. Scholastic is unique in its understanding of what kids want and need to read and learn. The company is a world leader in children’s school book clubs and school book fairs, through which children purchase books and software. (PRESS RELEASE) “

SCHL has been the topic of a number of other research reports. BidaskClub upgraded shares of Scholastic Corporation from a sell rating to a hold rating in a report on Saturday, June 10th. Stifel Nicolaus reiterated a hold rating and issued a $44.00 price target on shares of Scholastic Corporation in a research note on Wednesday, August 16th.

Shares of Scholastic Corporation (NASDAQ:SCHL) opened at 36.23 on Wednesday. Scholastic Corporation has a one year low of $35.20 and a one year high of $49.38. The stock has a 50 day moving average of $39.37 and a 200 day moving average of $42.28. The stock has a market cap of $1.27 billion, a P/E ratio of 45.63 and a beta of 0.75.

Scholastic Corporation (NASDAQ:SCHL) last announced its earnings results on Thursday, September 21st. The company reported ($1.67) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.34) by ($0.33). Scholastic Corporation had a net margin of 1.71% and a return on equity of 3.54%. The business had revenue of $189.20 million for the quarter, compared to the consensus estimate of $208.00 million. During the same quarter last year, the firm posted ($1.15) EPS. The business’s quarterly revenue was down 33.1% on a year-over-year basis. On average, analysts forecast that Scholastic Corporation will post $1.14 EPS for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, October 31st will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Monday, October 30th. Scholastic Corporation’s payout ratio is 77.92%.

A number of institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio boosted its stake in Scholastic Corporation by 5.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,818 shares of the company’s stock worth $166,000 after purchasing an additional 193 shares in the last quarter. Piedmont Investment Advisors LLC bought a new position in Scholastic Corporation in the 2nd quarter worth about $256,000. The Manufacturers Life Insurance Company boosted its stake in Scholastic Corporation by 3.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,977 shares of the company’s stock worth $958,000 after purchasing an additional 788 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in Scholastic Corporation in the 2nd quarter worth about $211,000. Finally, State Street Corp boosted its stake in Scholastic Corporation by 3.6% in the 2nd quarter. State Street Corp now owns 700,740 shares of the company’s stock worth $30,543,000 after purchasing an additional 24,289 shares in the last quarter. Institutional investors own 78.99% of the company’s stock.

Scholastic Corporation Company Profile

Scholastic Corporation is a publisher and distributor of children’s books, a provider of print and digital instructional materials for pre-kindergarten (pre-K) to grade 12, and a producer of educational and entertaining children’s media. The Company operates through three segments: Children’s Book Publishing and Distribution, Education and International.

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