Scholastic (NASDAQ:SCHL) Announces Earnings Results

Scholastic (NASDAQ:SCHL) announced its quarterly earnings results on Thursday. The company reported $2.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.07 by $0.10, FiscalAI reports. Scholastic had a negative net margin of 0.65% and a positive return on equity of 1.10%. The firm had revenue of $551.10 million for the quarter, compared to analyst estimates of $556.72 million. During the same quarter in the previous year, the firm posted $1.82 EPS.

Scholastic Price Performance

SCHL traded up $0.12 during midday trading on Thursday, hitting $28.77. The company had a trading volume of 364,325 shares, compared to its average volume of 321,485. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.65 and a current ratio of 1.16. The company has a market capitalization of $723.25 million, a PE ratio of -43.59 and a beta of 1.18. Scholastic has a twelve month low of $15.77 and a twelve month high of $31.86. The firm’s 50-day simple moving average is $28.65 and its 200-day simple moving average is $25.46.

Scholastic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Friday, January 30th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, January 30th. This represents a $0.80 dividend on an annualized basis and a yield of 2.8%. Scholastic’s dividend payout ratio is currently -121.21%.

Institutional Investors Weigh In On Scholastic

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Verition Fund Management LLC bought a new stake in shares of Scholastic in the 3rd quarter valued at about $7,288,000. Alliancebernstein L.P. boosted its stake in Scholastic by 879.3% during the 3rd quarter. Alliancebernstein L.P. now owns 1,159,261 shares of the company’s stock worth $31,741,000 after acquiring an additional 1,040,880 shares during the last quarter. Creative Planning grew its holdings in Scholastic by 33.6% during the third quarter. Creative Planning now owns 31,954 shares of the company’s stock valued at $875,000 after purchasing an additional 8,037 shares during the period. Shay Capital LLC bought a new stake in Scholastic in the third quarter valued at approximately $620,000. Finally, Brooklyn Investment Group raised its holdings in Scholastic by 531.3% in the third quarter. Brooklyn Investment Group now owns 25,826 shares of the company’s stock worth $707,000 after purchasing an additional 21,735 shares during the period. Institutional investors own 82.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Scholastic in a report on Tuesday. Wall Street Zen downgraded Scholastic from a “buy” rating to a “hold” rating in a research report on Friday, September 5th. B. Riley started coverage on Scholastic in a research note on Wednesday, September 3rd. They issued a “buy” rating and a $37.00 price target on the stock. Finally, Zacks Research lowered Scholastic from a “hold” rating to a “strong sell” rating in a research note on Monday, December 8th. One equities research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Scholastic presently has a consensus rating of “Reduce” and a consensus price target of $37.00.

Scholastic Company Profile

Scholastic Corporation publishes and distributes children’s books worldwide. It operates in three segments: Children’s Book Publishing and Distribution, Education Solutions, and International. The Children’s Book Publishing and Distribution segment engages in publication and distribution of children’s print, digital, and audio books, as well as media and interactive products through its school reading events and trade channel; and operation of school-based book clubs and book fairs in the United States.