Scholastic Corp. (NASDAQ:SCHL) posted its quarterly earnings results on Thursday. The company reported ($1.15) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.17) by $0.02. Scholastic Corp. had a return on equity of 4.85% and a net margin of 2.42%. The company had revenue of $282.70 million for the quarter. During the same period in the prior year, the firm posted ($1.42) earnings per share. The firm’s revenue for the quarter was up 47.9% on a year-over-year basis. Scholastic Corp. updated its FY17 guidance to $1.60-1.70 EPS.
Scholastic Corp. (NASDAQ:SCHL) opened at 38.45 on Monday. Scholastic Corp. has a 52-week low of $30.34 and a 52-week high of $44.24. The firm’s 50-day moving average is $40.02 and its 200 day moving average is $38.59. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 33.15 and a beta of 0.59.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Monday, October 31st will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $0.60 annualized dividend and a yield of 1.56%. Scholastic Corp.’s dividend payout ratio (DPR) is currently 42.86%.
In other Scholastic Corp. news, EVP Judith Newman sold 7,600 shares of Scholastic Corp. stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $41.30, for a total transaction of $313,880.00. Following the completion of the sale, the executive vice president now directly owns 30,391 shares in the company, valued at approximately $1,255,148.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Maureen Oconnell sold 56,526 shares of Scholastic Corp. stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $40.00, for a total transaction of $2,261,040.00. Following the sale, the chief financial officer now owns 51,818 shares of the company’s stock, valued at $2,072,720. The disclosure for this sale can be found here. Company insiders own 24.16% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC boosted 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 valued at $1,141,000 after buying an additional 200 shares during 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 valued at $25,023,000 after buying an additional 10,785 shares in the last quarter. UBS Group AG boosted its position in Scholastic Corp. by 17.7% in the first quarter. UBS Group AG now owns 57,613 shares of the company’s stock valued at $2,153,000 after buying an additional 8,680 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 valued at $1,743,000 after buying an additional 306 shares in the last quarter. Finally, Yakira Capital Management Inc. boosted its position in Scholastic Corp. by 250.6% in the first quarter. Yakira Capital Management Inc. now owns 52,585 shares of the company’s stock valued at $1,965,000 after buying an additional 37,585 shares in the last quarter. Institutional investors and hedge funds own 82.58% of the company’s stock.
A number of research analysts recently commented on SCHL shares. TheStreet raised Scholastic Corp. from a “hold” rating to a “buy” rating in a report on Thursday, July 21st. Zacks Investment Research raised Scholastic Corp. from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a report on Wednesday, June 8th.
Scholastic Corp. Company Profile
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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