Today, Scholastic Corp. (SCHL) Upgrade at The Zacks Investment Research

Today, Scholastic Corp. (SCHL) Upgrade at The Zacks Investment Research

Zacks Investment Research upgraded shares of Scholastic Corp. (NASDAQ:SCHL) from a hold rating to a buy rating in a research report report published on Wednesday morning. Zacks Investment Research currently has $50.00 price objective on the stock.

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 Scholastic Corp. from a hold rating to a buy rating in a report on Tuesday, November 8th.

Shares of Scholastic Corp. (NASDAQ:SCHL) opened at 45.77 on Wednesday. The company has a market cap of $1.58 billion, a PE ratio of 32.01 and a beta of 0.88. The firm’s 50-day moving average price is $40.47 and its 200 day moving average price is $39.73. Scholastic Corp. has a 12 month low of $30.34 and a 12 month high of $46.51.

Scholastic Corp. (NASDAQ:SCHL) last issued its earnings results on Thursday, September 22nd. The company reported ($1.15) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.17) by $0.02. The business had revenue of $282.70 million for the quarter. Scholastic Corp. had a return on equity of 5.45% and a net margin of 2.85%. The company’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.42) earnings per share. Equities research analysts anticipate that Scholastic Corp. will post $1.68 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors 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 1.30%. The ex-dividend date is Thursday, October 27th. Scholastic Corp.’s dividend payout ratio is presently 42.86%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SCHL. Nisa Investment Advisors LLC boosted its position 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 in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position 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 in the last quarter. Suntrust Banks Inc. boosted its position in 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 in the last quarter. Teacher Retirement System of Texas boosted its position in 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 in the last quarter. Finally, California Public Employees Retirement System boosted its position in 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 in the last quarter. Hedge funds and other institutional investors own 80.86% of the company’s stock.

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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