Stifel Nicolaus Reaffirms “Hold” Rating for Scholastic Corporation (SCHL)
Scholastic Corporation (NASDAQ:SCHL)‘s stock had its “hold” rating restated by investment analysts at Stifel Nicolaus in a research report issued on Wednesday. They presently have a $44.00 price objective on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 11.70% from the company’s current price.
Several other analysts have also recently commented on SCHL. Zacks Investment Research cut shares of Scholastic Corporation from a “hold” rating to a “sell” rating in a report on Thursday, May 25th. BidaskClub upgraded shares of Scholastic Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th.
Scholastic Corporation (SCHL) traded down 0.23% during trading on Wednesday, reaching $39.30. 122,035 shares of the company’s stock were exchanged. Scholastic Corporation has a 52 week low of $35.20 and a 52 week high of $49.38. The company’s 50 day moving average price is $41.99 and its 200-day moving average price is $43.50. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 26.66 and a beta of 0.74.
Scholastic Corporation (NASDAQ:SCHL) last posted its quarterly earnings results on Thursday, July 20th. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.09 by $0.22. The business had revenue of $499.60 million during the quarter, compared to analysts’ expectations of $508 million. Scholastic Corporation had a net margin of 3.00% and a return on equity of 5.10%. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company posted $1.22 earnings per share. On average, equities analysts expect that Scholastic Corporation will post $1.21 EPS for the current year.
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In other Scholastic Corporation news, CEO Richard Robinson sold 67,993 shares of Scholastic Corporation stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $43.08, for a total value of $2,929,138.44. Following the completion of the sale, the chief executive officer now directly owns 4,350,943 shares in the company, valued at $187,438,624.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Judith Newman sold 5,000 shares of Scholastic Corporation stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $45.04, for a total transaction of $225,200.00. Following the completion of the sale, the executive vice president now owns 18,894 shares of the company’s stock, valued at $850,985.76. The disclosure for this sale can be found here. Insiders sold 73,094 shares of company stock valued at $3,159,010 over the last quarter. Corporate insiders own 22.30% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio boosted its stake in Scholastic Corporation by 5.3% in the second quarter. Public Employees Retirement System of Ohio now owns 3,818 shares of the company’s stock worth $166,000 after buying an additional 193 shares during the period. Piedmont Investment Advisors LLC acquired a new stake in Scholastic Corporation during the second quarter worth about $256,000. The Manufacturers Life Insurance Company boosted its stake in Scholastic Corporation by 3.7% in the second quarter. The Manufacturers Life Insurance Company now owns 21,977 shares of the company’s stock worth $958,000 after buying an additional 788 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Scholastic Corporation during the second quarter worth about $211,000. Finally, State Street Corp boosted its stake in Scholastic Corporation by 3.6% in the second quarter. State Street Corp now owns 700,740 shares of the company’s stock worth $30,543,000 after buying an additional 24,289 shares during the period. Hedge funds and other institutional investors own 79.29% of the company’s stock.
Scholastic Corporation 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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