Scholastic (SCHL) Upgraded by BidaskClub to Buy
BidaskClub upgraded shares of Scholastic (NASDAQ:SCHL) from a hold rating to a buy rating in a research note issued to investors on Wednesday.
SCHL has been the topic of several other reports. Stifel Nicolaus restated a hold rating on shares of Scholastic in a research report on Thursday, September 21st. Zacks Investment Research upgraded Scholastic from a strong sell rating to a hold rating in a research report on Tuesday, September 26th.
Scholastic (SCHL) opened at $41.99 on Wednesday. The firm has a market capitalization of $1,470.24, a price-to-earnings ratio of 33.06 and a beta of 0.78. Scholastic has a 52-week low of $33.51 and a 52-week high of $49.38.
Scholastic (NASDAQ:SCHL) last announced its quarterly earnings data on Thursday, September 21st. The company reported ($1.67) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.34) by ($0.33). Scholastic had a net margin of 1.71% and a return on equity of 3.57%. The business 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 firm earned ($1.15) earnings per share. Scholastic’s revenue was down 33.1% on a year-over-year basis. analysts expect that Scholastic will post 1.19 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders 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 annualized dividend and a dividend yield of 1.43%. Scholastic’s payout ratio is 77.92%.
In other news, insider Alan J. Boyko sold 2,673 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $42.05, for a total value of $112,399.65. Following the transaction, the insider now directly owns 39,548 shares in the company, valued at $1,662,993.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alan J. Boyko sold 13,100 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $40.79, for a total value of $534,349.00. Following the completion of the transaction, the insider now owns 44,146 shares in the company, valued at $1,800,715.34. The disclosure for this sale can be found here. Insiders sold 23,100 shares of company stock worth $954,483 over the last 90 days. Company insiders own 22.30% of the company’s stock.
Several large investors have recently bought and sold shares of SCHL. JPMorgan Chase & Co. lifted its position in shares of Scholastic by 160.2% in the third quarter. JPMorgan Chase & Co. now owns 196,461 shares of the company’s stock worth $7,277,000 after buying an additional 120,967 shares in the last quarter. Neuberger Berman Group LLC lifted its position in shares of Scholastic by 28.3% in the third quarter. Neuberger Berman Group LLC now owns 489,971 shares of the company’s stock worth $18,227,000 after buying an additional 108,156 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Scholastic by 5.6% in the second quarter. Alliancebernstein L.P. now owns 2,007,484 shares of the company’s stock worth $87,506,000 after buying an additional 107,349 shares in the last quarter. OxFORD Asset Management LLP purchased a new stake in shares of Scholastic in the third quarter worth about $3,841,000. Finally, Northern Trust Corp lifted its position in shares of Scholastic by 6.7% in the second quarter. Northern Trust Corp now owns 1,196,201 shares of the company’s stock worth $52,143,000 after buying an additional 75,333 shares in the last quarter. Institutional investors own 79.51% 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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