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

According to Zacks, “Scholastic Corporation is the world’s largest publisher and distributor of children’s books and a leader in educational technology and children’s media. Scholastic creates quality educational and entertaining materials and products for use in school and at home, including children’s books, magazines, technology-based products, teacher materials, television programming, film, videos and toys. The Company distributes its products and services through a variety of channels, including proprietary school-based book clubs and school-based book fairs, retail stores, schools, libraries & television networks. The company distributes its products and services directly to schools and libraries through retail stores and the Internet. “

SCHL has been the topic of several other reports. UBS Group reissued a sell rating on shares of Scholastic in a research note on Tuesday, August 21st. BidaskClub raised shares of Scholastic from a buy rating to a strong-buy rating in a research note on Thursday, May 31st. TheStreet raised shares of Scholastic from a c rating to a b- rating in a research note on Friday, August 10th. Stifel Nicolaus reissued a hold rating and set a $43.00 target price (up from $40.00) on shares of Scholastic in a research note on Monday, July 16th. Finally, ValuEngine raised shares of Scholastic from a hold rating to a buy rating in a research note on Tuesday, July 10th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Scholastic has an average rating of Hold and an average target price of $48.50.

Shares of NASDAQ:SCHL opened at $43.04 on Friday. Scholastic has a 12-month low of $33.51 and a 12-month high of $47.76. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 30.10 and a beta of 0.67.

Scholastic (NASDAQ:SCHL) last announced its earnings results on Thursday, July 19th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.08. Scholastic had a negative net margin of 0.31% and a positive return on equity of 3.97%. The company had revenue of $496.20 million for the quarter, compared to the consensus estimate of $527.20 million. During the same period in the previous year, the business earned $1.31 EPS. The company’s revenue was down .7% on a year-over-year basis. equities research analysts anticipate that Scholastic will post 1.47 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, September 17th. Stockholders of record on Friday, August 31st were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend was Thursday, August 30th. Scholastic’s dividend payout ratio is currently 41.96%.

In other news, EVP Judith Newman sold 18,517 shares of the business’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $41.54, for a total transaction of $769,196.18. Following the transaction, the executive vice president now directly owns 20,308 shares in the company, valued at approximately $843,594.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have sold 47,194 shares of company stock worth $1,953,703. 21.79% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Scholastic during the 1st quarter valued at $102,000. Highland Capital Management LP purchased a new position in shares of Scholastic during the 2nd quarter valued at $222,000. Allianz Asset Management GmbH purchased a new position in shares of Scholastic during the 1st quarter valued at $210,000. Engineers Gate Manager LP purchased a new position in shares of Scholastic during the 1st quarter valued at $214,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Scholastic during the 2nd quarter valued at $257,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Scholastic Company Profile

Scholastic Corporation publishes and distributes children's books worldwide. It operates in three segments: Children's Book Publishing and Distribution, Education, and International. The Children's Book Publishing and Distribution segment publishes and distributes children's books, e-books, media, and interactive products through its school book club and school book fair channels, as well as through its trade channel.

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