Scholastic Corp. CEO Sells $2,318,720 in Stock (SCHL)
Scholastic Corp. (NASDAQ:SCHL) CEO Richard Robinson sold 64,000 shares of the company’s stock on the open market in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $36.23, for a total value of $2,318,720.00. Following the completion of the sale, the chief executive officer now directly owns 4,380,377 shares of the company’s stock, valued at approximately $158,701,059. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Separately, analysts at Zacks upgraded shares of Scholastic Corp. from a “neutral” rating to an “outperform” rating in a research note on Friday, July 25th. They now have a $37.40 price target on the stock.
Scholastic Corp. (NASDAQ:SCHL) traded down 0.11% during mid-day trading on Wednesday, hitting $36.10. 76,702 shares of the company’s stock traded hands. Scholastic Corp. has a 52 week low of $27.40 and a 52 week high of $36.87. The stock’s 50-day moving average is $34.4 and its 200-day moving average is $33.60. The company has a market cap of $1.165 billion and a price-to-earnings ratio of 26.52.
Scholastic Corp. (NASDAQ:SCHL) last issued its quarterly earnings data on Thursday, July 24th. The company reported $1.24 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.91 by $0.33. The company had revenue of $549.30 million for the quarter, compared to the consensus estimate of $516.00 million. During the same quarter in the prior year, the company posted $0.76 earnings per share. The company’s quarterly revenue was up 8.4% on a year-over-year basis. On average, analysts predict that Scholastic Corp. will post $2.07 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Wednesday, August 27th.
Scholastic Corporation (NASDAQ:SCHL) together with its subsidiaries is a global children’s publishing, education and media company.
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