Zacks Investment Research lowered shares of Scholastic Corp. (NASDAQ:SCHL) from a buy rating to a hold rating in a research report released on Thursday.
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 upgraded shares of Scholastic Corp. from a hold rating to a buy rating in a research report on Tuesday, November 8th.
Shares of Scholastic Corp. (NASDAQ:SCHL) opened at 45.77 on Thursday. The stock has a 50 day moving average of $40.47 and a 200 day moving average of $39.73. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 32.01 and a beta of 0.88. Scholastic Corp. has a 1-year low of $30.34 and a 1-year high of $46.51.
Scholastic Corp. (NASDAQ:SCHL) last issued its quarterly earnings results on Thursday, September 22nd. The company reported ($1.15) EPS for the quarter, beating analysts’ consensus estimates of ($1.17) by $0.02. Scholastic Corp. had a net margin of 2.85% and a return on equity of 5.45%. The business had revenue of $282.70 million for the quarter. During the same quarter in the previous year, the business earned ($1.42) earnings per share. The firm’s revenue was up 47.9% on a year-over-year basis. Analysts predict that Scholastic Corp. will post $1.68 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Monday, October 31st will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date is Thursday, October 27th. Scholastic Corp.’s dividend payout ratio (DPR) is presently 42.86%.
Several hedge funds have recently added to or reduced their stakes in SCHL. BlackRock Institutional Trust Company N.A. raised its stake in 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 period. Jacobs Levy Equity Management Inc. raised its stake in Scholastic Corp. by 103.1% in the first quarter. Jacobs Levy Equity Management Inc. now owns 35,690 shares of the company’s stock worth $1,334,000 after buying an additional 18,120 shares during the period. BNP Paribas Arbitrage SA raised its stake in Scholastic Corp. by 73.7% in the second quarter. BNP Paribas Arbitrage SA now owns 10,011 shares of the company’s stock worth $397,000 after buying an additional 4,248 shares during the period. Nisa Investment Advisors LLC raised its stake in 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 period. Finally, Acadian Asset Management LLC raised its stake in Scholastic Corp. by 435.3% in the second quarter. Acadian Asset Management LLC now owns 19,805 shares of the company’s stock worth $784,000 after buying an additional 16,105 shares during the period. 80.86% of the stock is owned by hedge funds and other 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.