Zacks: Analysts Set $41.00 Price Target for Scholastic Corp (SCHL)

Shares of Scholastic Corp (NASDAQ:SCHL) have been assigned a consensus broker rating score of 2.00 (Buy) from the two analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.

Brokers have set a 12 month consensus target price of $41.00 for the company and are expecting that the company will post ($0.35) EPS for the current quarter, according to Zacks. Zacks has also given Scholastic an industry rank of 41 out of 265 based on the ratings given to its competitors.

SCHL has been the topic of several recent research reports. Zacks Investment Research downgraded Scholastic from a “hold” rating to a “sell” rating in a research note on Friday, December 15th. BidaskClub downgraded Scholastic from a “hold” rating to a “sell” rating in a research note on Tuesday, January 9th. TheStreet downgraded Scholastic from a “b-” rating to a “c” rating in a research note on Monday, January 22nd. Finally, Stifel Nicolaus lifted their price target on Scholastic from $38.00 to $41.00 and gave the company a “hold” rating in a research note on Wednesday, December 13th.

Shares of Scholastic (SCHL) opened at $37.00 on Wednesday. The company has a market capitalization of $1,294.99, a price-to-earnings ratio of 82.22 and a beta of 0.73. Scholastic has a 12 month low of $33.51 and a 12 month high of $46.95.

Scholastic (NASDAQ:SCHL) last issued its quarterly earnings data on Thursday, December 14th. The company reported $1.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.75 by $0.17. The business 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 was down 4.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.92 EPS. equities research analysts predict that Scholastic will post 1.27 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, January 31st will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Tuesday, January 30th. Scholastic’s dividend payout ratio is 133.33%.

In other Scholastic news, CEO Richard Robinson sold 3,500 shares of Scholastic stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $40.33, for a total value of $141,155.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Alan J. Boyko sold 2,673 shares of Scholastic stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $42.05, for a total value of $112,399.65. Following the completion of the sale, the insider now directly owns 39,548 shares in the company, valued at approximately $1,662,993.40. The disclosure for this sale can be found here. Insiders sold a total of 29,100 shares of company stock worth $1,194,038 in the last three months. Company insiders own 22.30% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. grew its holdings in shares of Scholastic by 3.1% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 260,720 shares of the company’s stock valued at $9,699,000 after acquiring an additional 7,738 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Scholastic by 1.1% in the 2nd quarter. BlackRock Inc. now owns 3,380,237 shares of the company’s stock valued at $147,344,000 after acquiring an additional 35,595 shares in the last quarter. Teachers Advisors LLC grew its holdings in shares of Scholastic by 10.7% in the 2nd quarter. Teachers Advisors LLC now owns 52,794 shares of the company’s stock valued at $2,301,000 after acquiring an additional 5,093 shares in the last quarter. Boston Partners grew its holdings in shares of Scholastic by 2.6% in the 3rd quarter. Boston Partners now owns 413,547 shares of the company’s stock valued at $15,384,000 after acquiring an additional 10,302 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Scholastic by 3.6% in the 2nd quarter. State Street Corp now owns 700,740 shares of the company’s stock valued at $30,543,000 after acquiring an additional 24,289 shares in the last quarter. 79.74% 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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