Scholastic Corp. (SCHL) Releases Earnings Results, Beats Estimates By $0.02 EPS
Scholastic Corp. (NASDAQ:SCHL) posted its earnings results on Thursday. The company reported ($1.15) earnings per share for the quarter, beating the consensus estimate of ($1.17) by $0.02. Scholastic Corp. had a net margin of 2.42% and a return on equity of 4.85%.
Shares of Scholastic Corp. (NASDAQ:SCHL) opened at 38.365 on Thursday. Scholastic Corp. has a one year low of $30.34 and a one year high of $44.24. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 33.073 and a beta of 0.59. The company has a 50-day moving average of $40.10 and a 200 day moving average of $38.56.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Monday, October 31st will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.56%. Scholastic Corp.’s payout ratio is presently 56.07%.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/22/scholastic-corp-schl-releases-earnings-results-beats-estimates-by-0-02-eps.html
Several equities analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Scholastic Corp. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 26th. TheStreet raised shares of Scholastic Corp. from a “hold” rating to a “buy” rating in a report on Thursday, July 21st.
In other news, CEO Richard Robinson sold 18,158 shares of the stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $40.68, for a total value of $738,667.44. Following the completion of the sale, the chief executive officer now directly owns 4,390,978 shares of the company’s stock, valued at $178,624,985.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Maureen Oconnell sold 56,526 shares of the stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $40.00, for a total value of $2,261,040.00. Following the completion of the sale, the chief financial officer now directly owns 51,818 shares of the company’s stock, valued at $2,072,720. The disclosure for this sale can be found here. 24.16% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the stock. Bessemer Group Inc. increased its stake in Scholastic Corp. by 12.0% in the second quarter. Bessemer Group Inc. now owns 3,915 shares of the company’s stock valued at $155,000 after buying an additional 420 shares during the last quarter. Citadel Advisors LLC purchased a new stake in Scholastic Corp. during the second quarter valued at $236,000. BlackRock Inc. increased its stake in Scholastic Corp. by 356.2% in the second quarter. BlackRock Inc. now owns 7,710 shares of the company’s stock valued at $306,000 after buying an additional 6,020 shares during the last quarter. Hsbc Holdings PLC increased its stake in Scholastic Corp. by 0.8% in the second quarter. Hsbc Holdings PLC now owns 8,502 shares of the company’s stock valued at $337,000 after buying an additional 71 shares during the last quarter. Finally, Profund Advisors LLC increased its stake in Scholastic Corp. by 4.7% in the second quarter. Profund Advisors LLC now owns 8,688 shares of the company’s stock valued at $344,000 after buying an additional 392 shares during the last quarter. 82.58% of the stock is owned by institutional investors and hedge funds.
Scholastic Corp. Company Profile
Scholastic Corporation is a publisher and distributor of children’s books. The Company has three segments: Children’s Book Publishing and Distribution, Education and International. The Company’s Children’s Book Publishing and Distribution segment includes the publication and distribution of children’s books, e-books, media and interactive products in the United States through its book clubs and book fairs in its school channels and through the trade channel.
Receive News & Ratings for Scholastic Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scholastic Corp. and related companies with MarketBeat.com's FREE daily email newsletter.