Brokers Offer Predictions for Scholastic Corporation’s FY2019 Earnings (SCHL)
Scholastic Corporation (NASDAQ:SCHL) – Investment analysts at Gabelli dropped their FY2019 earnings estimates for shares of Scholastic Corporation in a report released on Wednesday. Gabelli analyst B. Lucas now expects that the company will post earnings of $1.40 per share for the year, down from their previous forecast of $1.50. Gabelli also issued estimates for Scholastic Corporation’s FY2020 earnings at $1.66 EPS and FY2021 earnings at $1.91 EPS.
A number of other equities analysts also recently commented on the company. Zacks Investment Research downgraded Scholastic Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 26th. BidaskClub downgraded Scholastic Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, July 8th. Finally, Stifel Nicolaus reiterated a “hold” rating on shares of Scholastic Corporation in a research report on Thursday, September 21st.
Shares of Scholastic Corporation (SCHL) opened at 37.20 on Thursday. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 47.15 and a beta of 0.75. The company’s 50-day moving average price is $39.37 and its 200 day moving average price is $42.28. Scholastic Corporation has a 12-month low of $33.51 and a 12-month high of $49.38.
Scholastic Corporation (NASDAQ:SCHL) last released its quarterly earnings results on Thursday, September 21st. The company reported ($1.67) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.34) by ($0.33). Scholastic Corporation had a net margin of 1.71% and a return on equity of 3.57%. The company had revenue of $189.20 million for the quarter, compared to analysts’ expectations of $208.00 million. During the same quarter in the previous year, the company posted ($1.15) EPS. The business’s quarterly revenue was down 33.1% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, October 31st will be given a dividend of $0.15 per share. The ex-dividend date is Monday, October 30th. This represents a $0.60 dividend on an annualized basis and a yield of 1.61%. Scholastic Corporation’s payout ratio is 77.92%.
A number of institutional investors have recently made changes to their positions in SCHL. Sei Investments Co. lifted its position in Scholastic Corporation by 69.6% during the first quarter. Sei Investments Co. now owns 2,454 shares of the company’s stock worth $105,000 after buying an additional 1,007 shares in the last quarter. Quantbot Technologies LP purchased a new position in Scholastic Corporation during the first quarter worth approximately $110,000. Federated Investors Inc. PA purchased a new position in Scholastic Corporation during the second quarter worth approximately $111,000. Public Employees Retirement System of Ohio lifted its position in Scholastic Corporation by 5.3% during the second quarter. Public Employees Retirement System of Ohio now owns 3,818 shares of the company’s stock worth $166,000 after buying an additional 193 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in Scholastic Corporation by 11.5% during the second quarter. Bessemer Group Inc. now owns 4,495 shares of the company’s stock worth $196,000 after buying an additional 462 shares in the last quarter. Hedge funds and other institutional investors own 78.99% of the company’s stock.
About Scholastic Corporation
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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