Scholastic Corp. (SCHL) Shares Down 1.1%
Scholastic Corp. (NASDAQ:SCHL) shares fell 1.1% during mid-day trading on Wednesday . The company traded as low as $38.31 and last traded at $38.36, with a volume of 138,255 shares traded. The stock had previously closed at $38.80.
A number of brokerages have recently issued reports on SCHL. Zacks Investment Research downgraded shares of Scholastic Corp. from a “buy” rating to a “hold” rating in a research report on Monday, May 30th. TheStreet upgraded shares of Scholastic Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, July 21st.
The stock has a 50-day moving average price of $40.10 and a 200 day moving average price of $38.56. The stock has a market cap of $1.32 billion, a PE ratio of 33.073 and a beta of 0.59.
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Scholastic Corp. (NASDAQ:SCHL) last announced its earnings results on Thursday, July 21st. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.27. The business had revenue of $513.80 million for the quarter, compared to the consensus estimate of $501.60 million. Scholastic Corp. had a net margin of 2.42% and a return on equity of 4.85%. Scholastic Corp.’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm posted $0.93 earnings per share. Analysts forecast that Scholastic Corp. will post $1.66 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Monday, October 31st will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.56%. Scholastic Corp.’s dividend payout ratio is currently 56.07%.
In related news, insider Alan J. Boyko sold 12,720 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $41.25, for a total value of $524,700.00. Following the sale, the insider now directly owns 33,820 shares of the company’s stock, valued at $1,395,075. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Maureen Oconnell sold 56,526 shares of the firm’s stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $40.00, for a total transaction of $2,261,040.00. Following the completion of the sale, the chief financial officer now directly owns 51,818 shares in the company, valued at $2,072,720. The disclosure for this sale can be found here. 24.16% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Mason Street Advisors LLC bought a new stake in shares of Scholastic Corp. during the second quarter worth $206,000. Public Employees Retirement System of Ohio increased its stake in shares of Scholastic Corp. by 5.7% in the second quarter. Public Employees Retirement System of Ohio now owns 3,907 shares of the company’s stock worth $155,000 after buying an additional 209 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Scholastic Corp. by 2.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 172,007 shares of the company’s stock worth $6,814,000 after buying an additional 4,075 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of Scholastic Corp. by 2.2% in the second quarter. Metropolitan Life Insurance Co. NY now owns 20,467 shares of the company’s stock worth $811,000 after buying an additional 443 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Scholastic Corp. by 1.5% in the second quarter. Arizona State Retirement System now owns 13,862 shares of the company’s stock worth $549,000 after buying an additional 200 shares in the last quarter. 82.58% of the stock is currently 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.
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