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 research report on Thursday, July 21st.
Scholastic Corp. (NASDAQ:SCHL) opened at 38.04 on Thursday. The firm has a 50-day moving average price of $39.95 and a 200-day moving average price of $38.66. The stock has a market cap of $1.31 billion, a P/E ratio of 26.60 and a beta of 0.59. Scholastic Corp. has a 52 week low of $30.34 and a 52 week high of $44.24.
Scholastic Corp. (NASDAQ:SCHL) last announced its quarterly earnings data on Thursday, September 22nd. The company reported ($1.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.17) by $0.02. The firm had revenue of $282.70 million for the quarter. Scholastic Corp. had a return on equity of 4.85% and a net margin of 2.42%. The firm’s quarterly revenue was up 47.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.42) earnings per share. On average, equities research analysts predict that Scholastic Corp. will post $1.66 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Monday, October 31st will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Thursday, October 27th. Scholastic Corp.’s dividend payout ratio (DPR) is currently 42.86%.
In other news, CEO Richard Robinson sold 18,158 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $40.68, for a total value of $738,667.44. Following the transaction, the chief executive officer now owns 4,390,978 shares of the company’s stock, valued at approximately $178,624,985.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Maureen Oconnell sold 56,526 shares of the stock in a transaction on Monday, July 11th. The shares were sold at an average price of $40.00, for a total value of $2,261,040.00. Following the completion of the transaction, the chief financial officer now directly owns 51,818 shares in the company, valued at approximately $2,072,720. The disclosure for this sale can be found here. 24.16% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of SCHL. Norges Bank bought a new position in Scholastic Corp. during the fourth quarter worth $8,228,000. Aston Asset Management LLC increased its position in Scholastic Corp. by 1.4% in the first quarter. Aston Asset Management LLC now owns 29,363 shares of the company’s stock worth $1,097,000 after buying an additional 415 shares during the period. BlackRock Group LTD increased its position in Scholastic Corp. by 8.4% in the first quarter. BlackRock Group LTD now owns 40,130 shares of the company’s stock worth $1,500,000 after buying an additional 3,095 shares during the period. BlackRock Fund Advisors increased its position in Scholastic Corp. by 1.4% in the first quarter. BlackRock Fund Advisors now owns 1,695,766 shares of the company’s stock worth $63,371,000 after buying an additional 23,335 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased 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 during the period. 82.58% of the stock is currently owned by institutional investors.
About Scholastic Corp.
Scholastic Corporation is a publisher and distributor of children’s books. The Company has three segments: Children’s Book Publishing and Distribution, Education and International. The Company’s Children’s Book Publishing and Distribution segment includes the publication and distribution of children’s books, e-books, media and interactive products in the United States through its book clubs and book fairs in its school channels and through the trade channel.
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