Scholastic Corp. (SCHL) Stock Rating Lowered by Zacks Investment Research
Scholastic Corp. (NASDAQ:SCHL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.
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 upgraded shares of Scholastic Corp. from a “hold” rating to a “buy” rating in a report on Tuesday, November 8th.
Shares of Scholastic Corp. (NASDAQ:SCHL) opened at 46.37 on Thursday. Scholastic Corp. has a 1-year low of $30.34 and a 1-year high of $46.37. The stock has a market capitalization of $1.60 billion, a P/E ratio of 32.43 and a beta of 0.88. The stock has a 50 day moving average of $40.24 and a 200-day moving average of $39.62.
Scholastic Corp. (NASDAQ:SCHL) last posted its earnings results on Thursday, September 22nd. The company reported ($1.15) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.17) by $0.02. Scholastic Corp. had a net margin of 2.85% and a return on equity of 5.45%. The firm earned $282.70 million during the quarter. During the same quarter last year, the business posted ($1.42) earnings per share. The business’s revenue was up 47.9% compared to the same quarter last year. Equities research analysts predict that Scholastic Corp. will post $1.68 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Monday, October 31st will be paid a dividend of $0.15 per share. The ex-dividend date is Thursday, October 27th. This represents a $0.60 annualized dividend and a dividend yield of 1.29%. Scholastic Corp.’s dividend payout ratio is currently 42.86%.
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Large investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its stake in Scholastic Corp. by 0.7% in the second quarter. Nisa Investment Advisors LLC now owns 28,800 shares of the company’s stock valued at $1,141,000 after buying an additional 200 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in Scholastic Corp. by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 669,603 shares of the company’s stock valued at $25,023,000 after buying an additional 10,785 shares in the last quarter. Suntrust Banks Inc. boosted its stake in Scholastic Corp. by 0.7% in the second quarter. Suntrust Banks Inc. now owns 44,026 shares of the company’s stock valued at $1,743,000 after buying an additional 306 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Scholastic Corp. by 22.6% in the second quarter. Teacher Retirement System of Texas now owns 3,668 shares of the company’s stock valued at $145,000 after buying an additional 677 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in Scholastic Corp. by 3.9% in the second quarter. California Public Employees Retirement System now owns 140,000 shares of the company’s stock valued at $5,545,000 after buying an additional 5,200 shares in the last quarter. 80.86% of the stock is currently owned by institutional investors.
Scholastic Corp. 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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