Scholastic (SCHL) Releases FY18 Earnings Guidance
Scholastic (NASDAQ:SCHL) updated its FY18 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.20-1.30 for the period, compared to the Thomson Reuters consensus estimate of $1.24. The company issued revenue guidance of $1.65-1.70, compared to the consensus revenue estimate of $1.66 billion.
A number of research analysts have issued reports on the stock. Stifel Nicolaus upped their price target on shares of Scholastic from $38.00 to $41.00 and gave the company a hold rating in a research note on Wednesday. BidaskClub lowered shares of Scholastic from a buy rating to a hold rating in a research note on Tuesday. Finally, Zacks Investment Research lowered shares of Scholastic from a hold rating to a sell rating in a research note on Friday.
Scholastic (SCHL) opened at $40.35 on Friday. Scholastic has a 52 week low of $33.51 and a 52 week high of $49.38. The stock has a market cap of $1,478.99, a P/E ratio of 33.26 and a beta of 0.78.
Scholastic (NASDAQ:SCHL) last issued its quarterly earnings results on Thursday, December 14th. The company reported $1.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.75 by $0.17. Scholastic had a net margin of 1.71% and a return on equity of 3.57%. The business had revenue of $598.30 million for the quarter, compared to analyst estimates of $601.40 million. During the same quarter in the prior year, the business posted $1.92 EPS. Scholastic’s revenue for the quarter was down 4.0% compared to the same quarter last year. research analysts forecast that Scholastic will post 1.19 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, January 31st will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, January 30th. This represents a $0.60 dividend on an annualized basis and a yield of 1.49%. Scholastic’s payout ratio is 77.92%.
In other news, insider Alan J. Boyko sold 7,327 shares of the company’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $42.00, for a total value of $307,734.00. Following the sale, the insider now directly owns 43,557 shares of the company’s stock, valued at approximately $1,829,394. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alan J. Boyko sold 13,100 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $40.79, for a total transaction of $534,349.00. Following the completion of the sale, the insider now directly owns 44,146 shares in the company, valued at $1,800,715.34. The disclosure for this sale can be found here. Insiders have sold a total of 23,100 shares of company stock worth $954,483 in the last 90 days. 22.30% of the stock is currently owned by company insiders.
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Scholastic 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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