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%.

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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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