Scholastic Corp (SCHL) Downgraded by Zacks Investment Research

Scholastic Corp (SCHL) Downgraded by Zacks Investment Research

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) “

Zacks Investment Research cut shares of Scholastic Corp (NASDAQ:SCHL) from a hold rating to a sell rating in a research note released on Thursday.

Separately, Stifel Nicolaus cut their price objective on Scholastic Corp from $45.00 to $44.00 and set a hold rating on the stock in a research report on Tuesday, March 28th.

Shares of Scholastic Corp (SCHL) opened at 42.06 on Thursday. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 31.70 and a beta of 0.98. The company’s 50 day moving average price is $42.73 and its 200-day moving average price is $44.66. Scholastic Corp has a 52 week low of $35.20 and a 52 week high of $49.38.

Scholastic Corp (NASDAQ:SCHL) last released its quarterly earnings results on Thursday, March 23rd. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by $0.11. Scholastic Corp had a return on equity of 5.71% and a net margin of 2.98%. The firm had revenue of $336.20 million for the quarter, compared to analyst estimates of $368 million. During the same quarter last year, the company earned ($0.06) earnings per share. The firm’s revenue for the quarter was down 8.1% on a year-over-year basis. Analysts anticipate that Scholastic Corp will post $1.68 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Friday, April 28th will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, April 26th. This represents a $0.60 annualized dividend and a dividend yield of 1.43%. Scholastic Corp’s dividend payout ratio (DPR) is 40.54%.

In related news, EVP Judith Newman sold 2,008 shares of the firm’s stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of $42.11, for a total value of $84,556.88. Following the completion of the sale, the executive vice president now owns 22,150 shares in the company, valued at $932,736.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Andres A. Alonso sold 964 shares of the firm’s stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $43.48, for a total transaction of $41,914.72. Following the completion of the sale, the director now owns 1,089 shares of the company’s stock, valued at approximately $47,349.72. The disclosure for this sale can be found here. Insiders have sold 206,353 shares of company stock valued at $8,920,156 in the last quarter. Insiders own 24.16% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Scholastic Corp by 47,605.6% in the first quarter. BlackRock Inc. now owns 3,344,642 shares of the company’s stock worth $142,381,000 after buying an additional 3,337,631 shares during the last quarter. Norges Bank purchased a new stake in shares of Scholastic Corp during the fourth quarter worth approximately $19,316,000. Acadian Asset Management LLC increased its stake in shares of Scholastic Corp by 91.6% in the first quarter. Acadian Asset Management LLC now owns 366,442 shares of the company’s stock worth $15,597,000 after buying an additional 175,225 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Scholastic Corp during the first quarter worth approximately $4,240,000. Finally, State Street Corp increased its stake in shares of Scholastic Corp by 15.6% in the fourth quarter. State Street Corp now owns 654,891 shares of the company’s stock worth $31,102,000 after buying an additional 88,492 shares during the last quarter. Hedge funds and other institutional investors own 80.34% 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SCHL”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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