Scholastic (SCHL) Posts Earnings Results, Beats Estimates By $0.17 EPS
Scholastic (NASDAQ:SCHL) announced its quarterly earnings data on Thursday. The company reported $1.92 EPS for the quarter, beating the Zacks’ consensus estimate of $1.75 by $0.17, RTT News reports. The business had revenue of $598.30 million during the quarter, compared to analyst estimates of $601.40 million. Scholastic had a net margin of 1.71% and a return on equity of 3.57%. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.92 earnings per share. Scholastic updated its FY18 guidance to $1.20-1.30 EPS.
Scholastic (SCHL) opened at $42.24 on Thursday. Scholastic has a 52-week low of $33.51 and a 52-week high of $49.38. The company has a market cap of $1,460.43, a PE ratio of 32.84 and a beta of 0.78.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, January 31st will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.42%. Scholastic’s dividend payout ratio is currently 77.92%.
A number of research analysts have recently commented on the stock. Stifel Nicolaus upped 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. BidaskClub lowered shares of Scholastic from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Zacks Investment Research raised shares of Scholastic from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 26th.
In related news, insider Alan J. Boyko sold 7,327 shares of the stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $42.00, for a total value of $307,734.00. Following the completion of the transaction, the insider now owns 43,557 shares of the company’s stock, valued at $1,829,394. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alan J. Boyko sold 13,100 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $40.79, for a total transaction of $534,349.00. Following the completion of the transaction, the insider now directly owns 44,146 shares of the company’s stock, valued at approximately $1,800,715.34. The disclosure for this sale can be found here. Insiders sold 23,100 shares of company stock valued at $954,483 in the last three months. Company insiders own 22.30% of the company’s stock.
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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