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 published on Thursday morning. The brokerage currently has $51.00 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) “

Shares of Scholastic Corp (NASDAQ:SCHL) traded up 2.30% during trading on Thursday, reaching $44.00. The company had a trading volume of 139,254 shares. The company has a market capitalization of $1.53 billion, a PE ratio of 33.16 and a beta of 0.98. The stock’s 50-day moving average price is $43.66 and its 200-day moving average price is $43.86. Scholastic Corp has a 52 week low of $35.20 and a 52 week high of $49.38.

Scholastic Corp (NASDAQ:SCHL) last announced its quarterly earnings results on Thursday, March 23rd. The company reported ($0.36) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.11. The company earned $336.20 million during the quarter, compared to analyst estimates of $368 million. Scholastic Corp had a net margin of 2.98% and a return on equity of 5.71%. The firm’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.06) EPS. On average, equities analysts expect that Scholastic Corp will post $1.68 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Scholastic Corp (SCHL) Upgraded to Buy by Zacks Investment Research” was first posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this story on another site, it was illegally stolen and reposted in violation of international copyright and trademark legislation. The original version of this story can be viewed at https://www.chaffeybreeze.com/2017/04/20/scholastic-corp-schl-upgraded-by-zacks-investment-research-to-buy-updated-updated.html.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Friday, April 28th will be issued a $0.15 dividend. The ex-dividend date is Wednesday, April 26th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.36%. Scholastic Corp’s dividend payout ratio (DPR) is presently 40.54%.

In related news, EVP Judith Newman sold 2,008 shares of Scholastic Corp stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $42.11, for a total transaction of $84,556.88. Following the sale, the executive vice president now owns 22,150 shares of the company’s stock, valued at approximately $932,736.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alan J. Boyko sold 10,000 shares of Scholastic Corp stock in a transaction on Tuesday, April 11th. The stock was sold at an average price of $42.91, for a total transaction of $429,100.00. Following the sale, the insider now directly owns 38,204 shares in the company, valued at approximately $1,639,333.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,397 shares of company stock worth $1,717,593. 24.16% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in SCHL. Norges Bank purchased a new stake in Scholastic Corp during the fourth quarter valued at about $19,316,000. Peregrine Capital Management LLC purchased a new stake in Scholastic Corp during the third quarter valued at about $8,153,000. BlackRock Fund Advisors increased its stake in Scholastic Corp by 9.1% in the third quarter. BlackRock Fund Advisors now owns 1,920,962 shares of the company’s stock valued at $75,609,000 after buying an additional 160,495 shares during the period. State Street Corp increased its stake in Scholastic Corp by 15.6% in the fourth quarter. State Street Corp now owns 654,891 shares of the company’s stock valued at $31,102,000 after buying an additional 88,492 shares during the period. Finally, Russell Investments Group Ltd. purchased a new stake in Scholastic Corp during the fourth quarter valued at about $3,540,000. 80.34% of the stock is currently owned by hedge funds and other 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.

5 Day Chart for NASDAQ:SCHL

Get a free copy of the Zacks research report on Scholastic Corp (SCHL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Scholastic Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scholastic Corp and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply