Scholastic (NASDAQ:SCHL) Reaches New 52-Week High – Still a Buy?

Scholastic Corporation (NASDAQ:SCHL)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $36.24 and last traded at $35.94, with a volume of 141205 shares changing hands. The stock had previously closed at $35.46.

Wall Street Analyst Weigh In

SCHL has been the topic of a number of research analyst reports. Weiss Ratings raised Scholastic from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, January 30th. Zacks Research raised shares of Scholastic from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $37.00.

Scholastic Stock Performance

The company has a current ratio of 1.67, a quick ratio of 1.24 and a debt-to-equity ratio of 0.30. The firm has a market cap of $916.35 million, a PE ratio of -180.10 and a beta of 1.17. The stock’s 50 day moving average price is $33.46 and its 200 day moving average price is $29.75.

Scholastic (NASDAQ:SCHL) last posted its earnings results on Thursday, December 18th. The company reported $2.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.10. Scholastic had a positive return on equity of 2.66% and a negative net margin of 0.21%.The business had revenue of $551.10 million during the quarter, compared to analyst estimates of $556.72 million. During the same quarter last year, the firm earned $1.82 earnings per share. As a group, equities analysts forecast that Scholastic Corporation will post 0.84 earnings per share for the current fiscal year.

Scholastic Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, January 30th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, January 30th. Scholastic’s dividend payout ratio is -400.00%.

Institutional Trading of Scholastic

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Scholastic by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 1,593,981 shares of the company’s stock valued at $47,230,000 after acquiring an additional 59,017 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Scholastic by 879.3% during the third quarter. Alliancebernstein L.P. now owns 1,159,261 shares of the company’s stock worth $31,741,000 after purchasing an additional 1,040,880 shares during the last quarter. J. Goldman & Co LP grew its stake in Scholastic by 4.1% in the fourth quarter. J. Goldman & Co LP now owns 797,878 shares of the company’s stock worth $23,641,000 after purchasing an additional 31,427 shares in the last quarter. American Century Companies Inc. increased its holdings in Scholastic by 6.4% in the third quarter. American Century Companies Inc. now owns 739,366 shares of the company’s stock valued at $20,244,000 after buying an additional 44,558 shares during the last quarter. Finally, Bragg Financial Advisors Inc raised its stake in Scholastic by 13.0% during the fourth quarter. Bragg Financial Advisors Inc now owns 668,904 shares of the company’s stock valued at $19,820,000 after buying an additional 76,801 shares in the last quarter. 82.57% of the stock is owned by institutional investors and hedge funds.

Scholastic Company Profile

Scholastic Corporation (NASDAQ: SCHL) is a global company dedicated to children’s publishing, education technology and distribution services. The company’s core business encompasses three primary segments: Children’s Book Publishing and Distribution, Education Technology, and International operations. Through its publishing arm, Scholastic produces and distributes a wide range of children’s books, novels, nonfiction titles and classroom magazines under well-known imprints such as Scholastic Press, Graphix and Chicken House.