Scholastic Corp (NASDAQ:SCHL) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 933,800 shares, a decrease of 12.7% from the July 31st total of 1,069,200 shares. Based on an average daily volume of 163,600 shares, the short-interest ratio is presently 5.7 days. Currently, 3.2% of the company’s stock are short sold.
Shares of NASDAQ SCHL traded down $0.22 during mid-day trading on Thursday, reaching $40.03. 3,290 shares of the company traded hands, compared to its average volume of 138,321. The stock has a market cap of $1.36 billion, a PE ratio of 37.10 and a beta of 0.84. The company’s fifty day moving average is $34.67 and its two-hundred day moving average is $36.74. Scholastic has a fifty-two week low of $31.38 and a fifty-two week high of $47.94.
Scholastic (NASDAQ:SCHL) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.29. The business had revenue of $470.70 million for the quarter, compared to analyst estimates of $456.80 million. Scholastic had a return on equity of 3.49% and a net margin of 0.94%. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.45 EPS. As a group, sell-side analysts predict that Scholastic will post 1.29 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Thursday, August 29th. Scholastic’s dividend payout ratio is 55.56%.
A number of brokerages have recently commented on SCHL. BidaskClub raised Scholastic from a “hold” rating to a “buy” rating in a report on Thursday. ValuEngine lowered Scholastic from a “hold” rating to a “sell” rating in a report on Friday, June 14th. Finally, Zacks Investment Research raised Scholastic from a “strong sell” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $41.50.
Hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its stake in Scholastic by 764.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,522 shares of the company’s stock valued at $51,000 after purchasing an additional 1,346 shares during the period. Pathstone Family Office LLC boosted its stake in Scholastic by 6,457.4% during the 2nd quarter. Pathstone Family Office LLC now owns 4,000 shares of the company’s stock valued at $133,000 after purchasing an additional 3,939 shares during the period. Jefferies Group LLC bought a new stake in Scholastic during the 2nd quarter valued at approximately $229,000. WINTON GROUP Ltd bought a new stake in Scholastic during the 2nd quarter valued at approximately $248,000. Finally, Atria Investments LLC bought a new stake in Scholastic during the 2nd quarter valued at approximately $250,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.
Scholastic Company Profile
Scholastic Corporation publishes and distributes children's books worldwide. It operates in three segments: Children's Book Publishing and Distribution, Education, and International. The Children's Book Publishing and Distribution segment publishes and distributes children's books, e-books, media, and interactive products through its school book club and school book fair channels, as well as through its trade channel.
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