Scholastic (NASDAQ:SCHL) Reaches New 12-Month Low – Here’s Why

Scholastic Co. (NASDAQ:SCHL) reached a new 52-week low on Friday . The company traded as low as $19.00 and last traded at $19.07, with a volume of 94729 shares traded. The stock had previously closed at $19.89.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Scholastic from a “buy” rating to a “hold” rating in a report on Saturday, October 5th.

Scholastic Stock Performance

The company has a quick ratio of 0.64, a current ratio of 1.14 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $533.08 million, a PE ratio of 33.88 and a beta of 1.10. The firm has a 50-day moving average price of $24.20 and a 200 day moving average price of $28.35.

Scholastic (NASDAQ:SCHL) last released its earnings results on Thursday, December 19th. The company reported $1.82 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.48). Scholastic had a net margin of 1.49% and a return on equity of 4.32%. Research analysts expect that Scholastic Co. will post 1.41 earnings per share for the current year.

Scholastic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, January 31st will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, January 31st. This represents a $0.80 annualized dividend and a yield of 4.22%. Scholastic’s dividend payout ratio (DPR) is -444.44%.

Hedge Funds Weigh In On Scholastic

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. increased its holdings in Scholastic by 18.1% in the second quarter. Pacer Advisors Inc. now owns 1,120,491 shares of the company’s stock valued at $39,744,000 after buying an additional 171,775 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Scholastic by 9.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 502,179 shares of the company’s stock worth $16,075,000 after acquiring an additional 41,864 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Scholastic by 13.2% in the 2nd quarter. American Century Companies Inc. now owns 488,259 shares of the company’s stock valued at $17,319,000 after acquiring an additional 56,835 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Scholastic by 45.0% in the 2nd quarter. Millennium Management LLC now owns 182,630 shares of the company’s stock valued at $6,478,000 after acquiring an additional 56,647 shares during the last quarter. Finally, Empowered Funds LLC raised its position in shares of Scholastic by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 149,908 shares of the company’s stock worth $4,799,000 after acquiring an additional 7,638 shares in the last quarter. Hedge funds and other institutional investors own 82.57% of the company’s stock.

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.