Scholastic (NASDAQ:SCHL) Hits New 1-Year High After Earnings Beat

Shares of Scholastic Corporation (NASDAQ:SCHLGet Free Report) reached a new 52-week high on Friday following a stronger than expected earnings report. The stock traded as high as $38.58 and last traded at $38.1370, with a volume of 247320 shares traded. The stock had previously closed at $34.24.

The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.45. The company had revenue of $329.10 million for the quarter, compared to the consensus estimate of $331.53 million. Scholastic had a positive return on equity of 2.66% and a negative net margin of 0.21%.

Scholastic Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Thursday, April 30th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, April 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.1%. Scholastic’s dividend payout ratio (DPR) is presently -400.00%.

Key Stories Impacting Scholastic

Here are the key news stories impacting Scholastic this week:

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Zacks Research cut shares of Scholastic from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Weiss Ratings upgraded Scholastic from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, January 30th. Finally, B. Riley Financial reiterated a “neutral” rating and set a $37.00 target price on shares of Scholastic in a research report on Monday, March 9th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $37.00.

Read Our Latest Research Report on SCHL

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SCHL. Vanguard Group Inc. boosted its stake in Scholastic by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 1,593,981 shares of the company’s stock valued at $47,230,000 after buying an additional 59,017 shares during the last quarter. Alliancebernstein L.P. increased its stake in Scholastic by 879.3% in the 3rd quarter. Alliancebernstein L.P. now owns 1,159,261 shares of the company’s stock worth $31,741,000 after acquiring an additional 1,040,880 shares during the last quarter. J. Goldman & Co LP raised its holdings in shares of Scholastic by 4.1% during the 4th quarter. J. Goldman & Co LP now owns 797,878 shares of the company’s stock worth $23,641,000 after acquiring an additional 31,427 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Scholastic by 6.4% during the 3rd quarter. American Century Companies Inc. now owns 739,366 shares of the company’s stock worth $20,244,000 after acquiring an additional 44,558 shares in the last quarter. Finally, Bragg Financial Advisors Inc boosted its position in shares of Scholastic by 13.0% during the 4th quarter. Bragg Financial Advisors Inc now owns 668,904 shares of the company’s stock valued at $19,820,000 after acquiring an additional 76,801 shares during the last quarter. Hedge funds and other institutional investors own 82.57% of the company’s stock.

Scholastic Stock Performance

The business’s fifty day moving average is $34.18 and its two-hundred day moving average is $30.35. The company has a quick ratio of 1.24, a current ratio of 1.67 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $978.30 million, a PE ratio of -190.68 and a beta of 1.17.

About Scholastic

(Get Free Report)

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.

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