Scholastic Corporation (SCHL) Sees Significant Decrease in Short Interest
Scholastic Corporation (NASDAQ:SCHL) was the recipient of a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 802,692 shares, a decline of 29.8% from the August 31st total of 1,143,078 shares. Approximately 2.7% of the company’s shares are short sold. Based on an average trading volume of 144,273 shares, the short-interest ratio is currently 5.6 days.
Several analysts have commented on SCHL shares. BidaskClub raised shares of Scholastic Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Zacks Investment Research raised shares of Scholastic Corporation from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Friday, July 21st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $44.00 target price on shares of Scholastic Corporation in a research note on Wednesday, August 16th.
A number of hedge funds have recently added to or reduced their stakes in SCHL. Nationwide Fund Advisors increased its stake in shares of Scholastic Corporation by 133.9% during the 1st quarter. Nationwide Fund Advisors now owns 46,754 shares of the company’s stock worth $1,990,000 after purchasing an additional 26,764 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Scholastic Corporation by 1.3% during the 1st quarter. Wells Fargo & Company MN now owns 19,384 shares of the company’s stock worth $824,000 after purchasing an additional 245 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Scholastic Corporation by 8.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 38,833 shares of the company’s stock worth $1,653,000 after purchasing an additional 3,171 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of Scholastic Corporation by 14.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,024 shares of the company’s stock worth $895,000 after purchasing an additional 2,576 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Scholastic Corporation by 0.4% during the 1st quarter. First Trust Advisors LP now owns 43,333 shares of the company’s stock worth $1,845,000 after purchasing an additional 158 shares during the last quarter. Institutional investors own 78.99% of the company’s stock.
Shares of Scholastic Corporation (SCHL) opened at 37.77 on Thursday. The firm has a 50-day moving average of $38.37 and a 200 day moving average of $41.67. The stock has a market capitalization of $1.32 billion, a PE ratio of 47.87 and a beta of 0.73. Scholastic Corporation has a 1-year low of $33.51 and a 1-year high of $49.38.
Scholastic Corporation (NASDAQ:SCHL) last released its earnings results on Thursday, September 21st. The company reported ($1.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.34) by ($0.33). Scholastic Corporation had a return on equity of 3.57% and a net margin of 1.71%. The company had revenue of $189.20 million during the quarter, compared to analysts’ expectations of $208.00 million. During the same quarter in the previous year, the company earned ($1.15) EPS. The firm’s quarterly revenue was down 33.1% compared to the same quarter last year. On average, equities analysts anticipate that Scholastic Corporation will post $1.12 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, October 31st will be given a $0.15 dividend. The ex-dividend date is Monday, October 30th. This represents a $0.60 dividend on an annualized basis and a yield of 1.59%. Scholastic Corporation’s payout ratio is 77.92%.
COPYRIGHT VIOLATION WARNING: “Scholastic Corporation (SCHL) Sees Significant Decrease in Short Interest” was originally reported by Watch List News and is the sole property of of Watch List News. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of United States and international trademark and copyright legislation. The original version of this story can be accessed at https://www.watchlistnews.com/scholastic-corporation-schl-sees-significant-decrease-in-short-interest/1608873.html.
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.
Receive News & Ratings for Scholastic Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scholastic Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.