Scholastic Corp. (SCHL) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Scholastic Corp. (NASDAQ:SCHL) from a hold rating to a buy rating in a research note released on Wednesday morning. They currently have $50.00 target price on the stock.
According to Zacks, “Scholastic Corp. creates and distributes innovative and quality educational materials for use in school – children’s books, textbooks, magazines, technology and teacher materials and engaging and appropriate products for use at home – magazines, software, television programming, videos and toys. Scholastic is unique in its understanding of what kids want and need to read and learn. The company is a world leader in children’s school book clubs and school book fairs, through which children purchase books and software. (PRESS RELEASE) “
Separately, TheStreet downgraded Scholastic Corp. from a buy rating to a hold rating in a report on Monday, October 10th.
Shares of Scholastic Corp. (NASDAQ:SCHL) remained flat at $45.44 on Wednesday. 129,379 shares of the stock traded hands. Scholastic Corp. has a 12 month low of $30.34 and a 12 month high of $45.46. The stock’s 50 day moving average is $39.97 and its 200 day moving average is $39.55. The stock has a market cap of $1.57 billion, a P/E ratio of 31.78 and a beta of 0.88.
Scholastic Corp. (NASDAQ:SCHL) last issued its quarterly earnings results on Thursday, September 22nd. The company reported ($1.15) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.17) by $0.02. Scholastic Corp. had a return on equity of 5.45% and a net margin of 2.85%. The firm earned $282.70 million during the quarter. During the same period in the prior year, the business earned ($1.42) earnings per share. Scholastic Corp.’s revenue for the quarter was up 47.9% compared to the same quarter last year. On average, equities analysts predict that Scholastic Corp. will post $1.68 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Monday, October 31st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Thursday, October 27th. Scholastic Corp.’s dividend payout ratio (DPR) is currently 42.86%.
A number of large investors have recently added to or reduced their stakes in SCHL. Royce & Associates LP increased its stake in Scholastic Corp. by 1.8% in the second quarter. Royce & Associates LP now owns 2,124,500 shares of the company’s stock worth $84,151,000 after buying an additional 38,500 shares during the period. BlackRock Fund Advisors boosted its position in shares of Scholastic Corp. by 9.1% in the third quarter. BlackRock Fund Advisors now owns 1,920,962 shares of the company’s stock worth $75,609,000 after buying an additional 160,495 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Scholastic Corp. by 3.3% in the second quarter. Vanguard Group Inc. now owns 1,913,048 shares of the company’s stock worth $75,776,000 after buying an additional 61,415 shares in the last quarter. Northern Trust Corp boosted its position in shares of Scholastic Corp. by 6.3% in the third quarter. Northern Trust Corp now owns 1,216,072 shares of the company’s stock worth $47,866,000 after buying an additional 72,150 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Scholastic Corp. by 53.6% in the second quarter. Bank of New York Mellon Corp now owns 779,194 shares of the company’s stock worth $30,863,000 after buying an additional 272,035 shares in the last quarter. 81.65% of the stock is owned by institutional investors.
About Scholastic Corp.
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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