Scholastic Corp. (SCHL) Downgraded to “Hold” at TheStreet
Scholastic Corp. (NASDAQ:SCHL) was downgraded by TheStreet from a “buy” rating to a “hold” rating in a research note issued on Monday.
Separately, Zacks Investment Research lowered shares of Scholastic Corp. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 26th.
Shares of Scholastic Corp. (NASDAQ:SCHL) traded down 0.91% during midday trading on Monday, hitting $38.06. 106,605 shares of the stock were exchanged. The firm has a market cap of $1.31 billion, a PE ratio of 26.62 and a beta of 0.66. Scholastic Corp. has a 52-week low of $30.34 and a 52-week high of $44.24. The firm’s 50-day moving average is $39.30 and its 200 day moving average is $38.85.
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Scholastic Corp. (NASDAQ:SCHL) last released its earnings results on Thursday, September 22nd. The company reported ($1.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.17) by $0.02. The company earned $282.70 million during the quarter. Scholastic Corp. had a net margin of 2.85% and a return on equity of 5.45%. The company’s revenue was up 47.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.42) earnings per share. On average, analysts forecast that Scholastic Corp. will post $1.66 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Monday, October 31st will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Thursday, October 27th. Scholastic Corp.’s dividend payout ratio (DPR) is currently 42.86%.
In other Scholastic Corp. news, CEO Richard Robinson sold 18,158 shares of the stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $40.68, for a total transaction 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 approximately $178,624,985.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Judith Newman sold 7,600 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $41.30, for a total transaction of $313,880.00. Following the sale, the executive vice president now directly owns 30,391 shares of the company’s stock, valued at $1,255,148.30. The disclosure for this sale can be found here. Company insiders own 24.16% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. PineBridge Investments L.P. raised its stake in shares of Scholastic Corp. by 2.7% in the second quarter. PineBridge Investments L.P. now owns 3,363 shares of the company’s stock worth $134,000 after buying an additional 89 shares during the period. Teacher Retirement System of Texas raised its stake in shares of Scholastic Corp. by 22.6% in the second quarter. Teacher Retirement System of Texas now owns 3,668 shares of the company’s stock worth $145,000 after buying an additional 677 shares during the period. Bessemer Group Inc. raised its stake 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 period. Public Employees Retirement System of Ohio raised 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 during the period. Finally, Mason Street Advisors LLC bought a new stake in shares of Scholastic Corp. during the second quarter worth about $206,000. 82.10% 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.
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