Scholastic Corp. (NASDAQ:SCHL) Given $39.00 Average Target Price by Analysts
Shares of Scholastic Corp. (NASDAQ:SCHL) have received an average broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. Scholastic Corp.’s rating score has declined by 19.8% from three months ago as a result of various analysts’ upgrades and downgrades.
Brokerages have set a 1-year consensus price target of $39.00 for the company and are predicting that the company will post ($1.17) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Scholastic Corp. an industry rank of 239 out of 265 based on the ratings given to related companies.
Several analysts have commented on SCHL shares. Zacks Investment Research cut Scholastic Corp. from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 26th. TheStreet raised Scholastic Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, July 21st.
Shares of Scholastic Corp. (NASDAQ:SCHL) traded down 1.11% during mid-day trading on Wednesday, hitting $38.37. 32,163 shares of the stock traded hands. The company has a market cap of $1.32 billion, a P/E ratio of 33.08 and a beta of 0.59. Scholastic Corp. has a one year low of $30.34 and a one year high of $44.24. The stock has a 50 day moving average price of $40.17 and a 200-day moving average price of $38.56.
Scholastic Corp. (NASDAQ:SCHL) last posted its quarterly earnings results on Thursday, July 21st. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $0.95 by $0.27. The company earned $513.80 million during the quarter, compared to analysts’ expectations of $501.60 million. Scholastic Corp. had a return on equity of 4.85% and a net margin of 2.42%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.93 EPS. On average, analysts forecast that Scholastic Corp. will post $1.67 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend was Monday, August 29th. Scholastic Corp.’s dividend payout ratio is currently 56.07%.
In other news, EVP Judith Newman sold 7,600 shares of Scholastic Corp. stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $41.30, for a total value of $313,880.00. Following the transaction, the executive vice president now directly owns 30,391 shares of the company’s stock, valued at approximately $1,255,148.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alan J. Boyko sold 12,720 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $41.25, for a total value of $524,700.00. Following the transaction, the insider now directly owns 33,820 shares in the company, valued at $1,395,075. The disclosure for this sale can be found here. 24.16% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Mason Street Advisors LLC bought a new position in Scholastic Corp. during the second quarter valued at approximately $206,000. Public Employees Retirement System of Ohio raised its position in Scholastic Corp. by 5.7% in the second quarter. Public Employees Retirement System of Ohio now owns 3,907 shares of the company’s stock valued at $155,000 after buying an additional 209 shares during the period. Schwab Charles Investment Management Inc. raised its position in Scholastic Corp. by 2.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 172,007 shares of the company’s stock valued at $6,814,000 after buying an additional 4,075 shares during the period. Metropolitan Life Insurance Co. NY raised its position in Scholastic Corp. by 2.2% in the second quarter. Metropolitan Life Insurance Co. NY now owns 20,467 shares of the company’s stock valued at $811,000 after buying an additional 443 shares during the period. Finally, Arizona State Retirement System raised its position in Scholastic Corp. by 1.5% in the second quarter. Arizona State Retirement System now owns 13,862 shares of the company’s stock valued at $549,000 after buying an additional 200 shares during the period. 82.58% of the stock is currently owned by hedge funds and other institutional investors.
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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