Zacks: Scholastic Corp (SCHL) Given Consensus Recommendation of “Buy” by Analysts
Scholastic Corp (NASDAQ:SCHL) has been assigned a consensus broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and one has assigned a strong buy rating to the company.
Analysts have set a 12-month consensus target price of $41.00 for the company and are predicting that the company will post ($0.35) earnings per share for the current quarter, according to Zacks. Zacks has also given Scholastic an industry rank of 52 out of 265 based on the ratings given to its competitors.
A number of equities research analysts recently issued reports on SCHL shares. BidaskClub raised Scholastic from a “hold” rating to a “buy” rating in a research report on Wednesday, December 6th. Zacks Investment Research downgraded Scholastic from a “hold” rating to a “sell” rating in a research report on Friday, December 15th. TheStreet raised Scholastic from a “c” rating to a “b-” rating in a research report on Thursday, December 14th. Finally, Stifel Nicolaus increased their price target on Scholastic from $38.00 to $41.00 and gave the stock a “hold” rating in a research report on Wednesday, December 13th.
Scholastic (NASDAQ:SCHL) last posted its earnings results on Thursday, December 14th. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.75 by $0.17. The company had revenue of $598.30 million for the quarter, compared to the consensus estimate of $601.40 million. Scholastic had a return on equity of 3.41% and a net margin of 1.07%. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.92 earnings per share. equities research analysts predict that Scholastic will post 1.27 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, January 31st will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Tuesday, January 30th. Scholastic’s dividend payout ratio is currently 133.33%.
In other Scholastic news, insider Alan J. Boyko sold 7,327 shares of the firm’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $42.00, for a total value of $307,734.00. Following the sale, the insider now owns 43,557 shares of the company’s stock, valued at approximately $1,829,394. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Alan J. Boyko sold 13,100 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $40.79, for a total value of $534,349.00. Following the completion of the sale, the insider now directly owns 44,146 shares in the company, valued at approximately $1,800,715.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,600 shares of company stock worth $1,095,638. Company insiders own 22.30% of the company’s stock.
Several hedge funds have recently modified their holdings of SCHL. Federated Investors Inc. PA acquired a new stake in shares of Scholastic in the 2nd quarter valued at $111,000. Quantbot Technologies LP acquired a new stake in shares of Scholastic in the 3rd quarter valued at $141,000. Public Employees Retirement System of Ohio boosted its holdings in shares of Scholastic by 5.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,818 shares of the company’s stock valued at $166,000 after purchasing an additional 193 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Scholastic in the 2nd quarter valued at $211,000. Finally, Bessemer Group Inc. boosted its holdings in shares of Scholastic by 33.4% in the 3rd quarter. Bessemer Group Inc. now owns 5,995 shares of the company’s stock valued at $223,000 after purchasing an additional 1,500 shares in the last quarter. 79.63% of the stock is currently owned by hedge funds and other institutional investors.
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Scholastic Company Profile
Scholastic Corporation is a publisher and distributor of children’s books, a provider of print and digital instructional materials for pre-kindergarten (pre-K) to grade 12, and a producer of educational and entertaining children’s media. The Company operates through three segments: Children’s Book Publishing and Distribution, Education and International.
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