Scholastic Corp. (NASDAQ:SCHL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The brokerage presently has a $50.00 price objective on the stock. Zacks Investment Research’s target price points to a potential upside of 10.04% from the stock’s previous close.
According to Zacks, “Scholastic Corp. creates and distributes innovative and quality educational materials for use in school – children’s books, textbooks, magazines, technology and teacher materials and engaging and appropriate products for use at home – magazines, software, television programming, videos and toys. Scholastic is unique in its understanding of what kids want and need to read and learn. The company is a world leader in children’s school book clubs and school book fairs, through which children purchase books and software. (PRESS RELEASE) “
Separately, TheStreet downgraded shares of Scholastic Corp. from a “buy” rating to a “hold” rating in a report on Monday, October 10th.
Shares of Scholastic Corp. (NASDAQ:SCHL) opened at 45.44 on Wednesday. The firm has a market capitalization of $1.57 billion, a PE ratio of 31.78 and a beta of 0.88. Scholastic Corp. has a 52-week low of $30.34 and a 52-week high of $45.46. The company has a 50 day moving average of $39.97 and a 200 day moving average of $39.55.
Scholastic Corp. (NASDAQ:SCHL) last posted its quarterly earnings data on Thursday, September 22nd. The company reported ($1.15) earnings per share for the quarter, topping the consensus estimate of ($1.17) by $0.02. The business 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 business’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.42) EPS. On average, analysts anticipate that Scholastic Corp. will post $1.68 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Monday, October 31st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Thursday, October 27th. Scholastic Corp.’s payout ratio is 42.86%.
Large investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its stake in shares of Scholastic Corp. by 0.7% in the second quarter. Nisa Investment Advisors LLC now owns 28,800 shares of the company’s stock worth $1,141,000 after buying an additional 200 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Scholastic Corp. by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 669,603 shares of the company’s stock worth $25,023,000 after buying an additional 10,785 shares during the last quarter. Suntrust Banks Inc. increased its stake in shares of Scholastic Corp. by 0.7% in the second quarter. Suntrust Banks Inc. now owns 44,026 shares of the company’s stock worth $1,743,000 after buying an additional 306 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of Scholastic Corp. by 3.9% in the second quarter. California Public Employees Retirement System now owns 140,000 shares of the company’s stock worth $5,545,000 after buying an additional 5,200 shares during the last quarter. Finally, Teacher Retirement System of Texas increased 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 last quarter. 81.65% of the stock is owned by institutional investors.
About Scholastic Corp.
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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