Scholastic (SCHL) Cut to “Sell” at BidaskClub
BidaskClub cut shares of Scholastic (NASDAQ:SCHL) from a hold rating to a sell rating in a report published on Tuesday morning.
SCHL has been the topic of several other reports. Zacks Investment Research cut shares of Scholastic from a hold rating to a sell rating in a research report on Wednesday, September 20th. TheStreet raised shares of Scholastic from a c rating to a b- rating in a research report on Thursday, December 14th. Finally, Stifel Nicolaus boosted their price objective on shares of Scholastic from $38.00 to $41.00 and gave the company a hold rating in a research report on Wednesday, December 13th.
Shares of Scholastic (SCHL) traded down $0.45 during midday trading on Tuesday, hitting $38.92. 232,071 shares of the stock were exchanged, compared to its average volume of 151,257. The company has a market capitalization of $1,370.00, a PE ratio of 84.61 and a beta of 0.78. Scholastic has a 52 week low of $33.51 and a 52 week high of $46.98.
Scholastic (NASDAQ:SCHL) last posted its quarterly earnings data on Thursday, December 14th. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.75 by $0.17. The business had revenue of $598.30 million for the quarter, compared to analysts’ expectations of $601.40 million. Scholastic had a net margin of 1.07% and a return on equity of 3.41%. The firm’s revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.92 EPS. research analysts expect that Scholastic will post 1.27 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, January 31st will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, January 30th. This represents a $0.60 annualized dividend and a yield of 1.54%. Scholastic’s dividend payout ratio (DPR) is presently 130.43%.
In related news, insider Alan J. Boyko sold 2,673 shares of the company’s stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $42.05, for a total value of $112,399.65. Following the transaction, the insider now owns 39,548 shares in the company, valued at approximately $1,662,993.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Richard Robinson sold 3,500 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $40.33, for a total transaction of $141,155.00. The disclosure for this sale can be found here. Insiders have sold a total of 26,600 shares of company stock worth $1,095,638 over the last three months. Insiders own 22.30% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wells Fargo & Company MN grew its position in shares of Scholastic by 0.3% during the 2nd quarter. Wells Fargo & Company MN now owns 19,450 shares of the company’s stock worth $848,000 after purchasing an additional 66 shares in the last quarter. Suntrust Banks Inc. grew its position in shares of Scholastic by 0.6% during the 2nd quarter. Suntrust Banks Inc. now owns 29,277 shares of the company’s stock worth $1,276,000 after purchasing an additional 174 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in shares of Scholastic by 5.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,818 shares of the company’s stock worth $166,000 after purchasing an additional 193 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Scholastic by 3.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,977 shares of the company’s stock worth $958,000 after purchasing an additional 788 shares in the last quarter. Finally, Thrivent Financial For Lutherans grew its position in shares of Scholastic by 8.5% during the 2nd quarter. Thrivent Financial For Lutherans now owns 16,500 shares of the company’s stock worth $719,000 after purchasing an additional 1,290 shares in the last quarter. Institutional investors and hedge funds own 79.63% of the company’s stock.
Scholastic Company Profile
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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