Scholastic Corp (NASDAQ:SCHL) saw a significant growth in short interest during the month of July. As of July 31st, there was short interest totalling 1,069,200 shares, a growth of 9.3% from the June 30th total of 978,100 shares. Based on an average trading volume of 168,000 shares, the days-to-cover ratio is currently 6.4 days. Approximately 3.6% of the company’s shares are sold short.
Shares of SCHL traded up $0.01 during mid-day trading on Thursday, reaching $33.02. 95,410 shares of the company’s stock traded hands, compared to its average volume of 138,178. The stock has a market cap of $1.16 billion, a P/E ratio of 30.57 and a beta of 0.84. The stock’s 50-day moving average is $33.42 and its two-hundred day moving average is $37.58. Scholastic has a 12 month low of $31.38 and a 12 month high of $47.94.
Scholastic (NASDAQ:SCHL) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.29. The firm had revenue of $470.70 million during the quarter, compared to analyst estimates of $456.80 million. Scholastic had a return on equity of 3.49% and a net margin of 0.94%. Scholastic’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.45 earnings per share. As a group, equities research analysts forecast that Scholastic will post 1.29 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in SCHL. Macquarie Group Ltd. purchased a new stake in shares of Scholastic in the fourth quarter valued at approximately $28,000. Investors Research Corp purchased a new stake in shares of Scholastic in the first quarter valued at approximately $48,000. Tower Research Capital LLC TRC boosted its holdings in shares of Scholastic by 764.8% in the second quarter. Tower Research Capital LLC TRC now owns 1,522 shares of the company’s stock valued at $51,000 after purchasing an additional 1,346 shares during the period. Pathstone Family Office LLC boosted its holdings in shares of Scholastic by 6,457.4% in the second quarter. Pathstone Family Office LLC now owns 4,000 shares of the company’s stock valued at $133,000 after purchasing an additional 3,939 shares during the period. Finally, Jefferies Group LLC purchased a new stake in shares of Scholastic in the second quarter valued at approximately $229,000. Hedge funds and other institutional investors own 81.37% of the company’s stock.
Several equities research analysts have weighed in on the company. BidaskClub raised Scholastic from a “sell” rating to a “hold” rating in a research note on Tuesday, August 6th. ValuEngine cut Scholastic from a “hold” rating to a “sell” rating in a research note on Friday, June 14th. Finally, Zacks Investment Research raised Scholastic from a “strong sell” rating to a “buy” rating and set a $39.00 target price on the stock in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Scholastic presently has a consensus rating of “Hold” and an average target price of $41.50.
Scholastic Corporation publishes and distributes children's books worldwide. It operates in three segments: Children's Book Publishing and Distribution, Education, and International. The Children's Book Publishing and Distribution segment publishes and distributes children's books, e-books, media, and interactive products through its school book club and school book fair channels, as well as through its trade channel.
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