Scholastic Corp. (SCHL) Updates FY17 Earnings Guidance
Scholastic Corp. (NASDAQ:SCHL) updated its FY17 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.60-1.70 for the period, compared to the Thomson Reuters consensus estimate of $1.66. The company issued revenue guidance of $1.7-1.8 billion, compared to the consensus revenue estimate of $1.77 billion.
A number of research analysts have recently issued reports on SCHL shares. Zacks Investment Research cut shares of Scholastic Corp. from a buy rating to a hold rating in a research note on Monday, May 30th. TheStreet upgraded shares of Scholastic Corp. from a hold rating to a buy rating in a research note on Thursday, July 21st.
Scholastic Corp. (NASDAQ:SCHL) opened at 38.365 on Thursday. The stock has a 50 day moving average of $40.10 and a 200-day moving average of $38.56. The company has a market cap of $1.32 billion, a PE ratio of 33.073 and a beta of 0.59. Scholastic Corp. has a 1-year low of $30.34 and a 1-year high of $44.24.
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Scholastic Corp. (NASDAQ:SCHL) last announced its quarterly earnings results on Thursday, September 22nd. The company reported ($1.15) EPS for the quarter, beating the Zacks’ 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%. The business had revenue of $282.70 million for the quarter, compared to analyst estimates of $286.50 million. During the same quarter in the prior year, the business earned ($1.42) EPS. Scholastic Corp.’s quarterly revenue was up 47.9% on a year-over-year basis. On average, equities research analysts predict that Scholastic Corp. will post $1.66 earnings per share for the current year.
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 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 (DPR) is currently 56.07%.
In related news, EVP Judith Newman sold 7,600 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $41.30, for a total value of $313,880.00. Following the transaction, the executive vice president now owns 30,391 shares in the company, valued at approximately $1,255,148.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Maureen Oconnell sold 56,526 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 51,818 shares in the company, valued at approximately $2,072,720. The disclosure for this sale can be found here. 24.16% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in SCHL. Bessemer Group Inc. raised its position in shares of Scholastic Corp. by 12.0% in the second quarter. Bessemer Group Inc. now owns 3,915 shares of the company’s stock worth $155,000 after buying an additional 420 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of Scholastic Corp. during the second quarter worth about $236,000. BlackRock Inc. raised its position in shares of Scholastic Corp. by 356.2% in the second quarter. BlackRock Inc. now owns 7,710 shares of the company’s stock worth $306,000 after buying an additional 6,020 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Scholastic Corp. by 0.8% in the second quarter. Hsbc Holdings PLC now owns 8,502 shares of the company’s stock worth $337,000 after buying an additional 71 shares during the last quarter. Finally, Profund Advisors LLC raised its position in shares of Scholastic Corp. by 4.7% in the second quarter. Profund Advisors LLC now owns 8,688 shares of the company’s stock worth $344,000 after buying an additional 392 shares during the last quarter. Institutional investors and hedge funds own 82.58% of the company’s stock.
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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