Scholastic Corporation (NASDAQ:SCHL) posted its quarterly earnings results on Thursday. The company reported ($1.67) EPS for the quarter, missing the consensus estimate of ($1.34) by ($0.33), Bloomberg Earnings reports. The business had revenue of $189.20 million for the quarter, compared to analysts’ expectations of $208.00 million. Scholastic Corporation had a return on equity of 5.10% and a net margin of 3.00%. The company’s revenue was down 33.1% compared to the same quarter last year. During the same period last year, the business posted ($1.15) earnings per share. Scholastic Corporation updated its FY18 guidance to $1.20-1.30 EPS.
Scholastic Corporation (NASDAQ SCHL) opened at 38.51 on Thursday. Scholastic Corporation has a 52 week low of $35.20 and a 52 week high of $49.38. The stock has a market capitalization of $1.35 billion, a P/E ratio of 26.13 and a beta of 0.75. The company has a 50 day moving average of $39.37 and a 200 day moving average of $42.28.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Tuesday, October 31st will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.56%. Scholastic Corporation’s payout ratio is 41.96%.
Several research analysts have commented on SCHL shares. Zacks Investment Research downgraded shares of Scholastic Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, May 25th. BidaskClub raised shares of Scholastic Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $44.00 target price on shares of Scholastic Corporation in a research note on Wednesday, August 16th.
A number of hedge funds have recently added to or reduced their stakes in SCHL. Bank of Montreal Can increased its stake in Scholastic Corporation by 3.2% in the first quarter. Bank of Montreal Can now owns 6,571 shares of the company’s stock worth $279,000 after purchasing an additional 201 shares during the period. Nationwide Fund Advisors increased its stake in Scholastic Corporation by 133.9% in the first quarter. Nationwide Fund Advisors now owns 46,754 shares of the company’s stock worth $1,990,000 after purchasing an additional 26,764 shares during the period. Russell Investments Group Ltd. increased its stake in Scholastic Corporation by 76.6% in the first quarter. Russell Investments Group Ltd. now owns 130,610 shares of the company’s stock worth $5,560,000 after purchasing an additional 56,648 shares during the period. Wells Fargo & Company MN increased its stake in Scholastic Corporation by 1.3% in the first quarter. Wells Fargo & Company MN now owns 19,384 shares of the company’s stock worth $824,000 after purchasing an additional 245 shares during the period. Finally, Great West Life Assurance Co. Can increased its stake in Scholastic Corporation by 8.9% in the first quarter. Great West Life Assurance Co. Can now owns 38,833 shares of the company’s stock worth $1,653,000 after purchasing an additional 3,171 shares during the period. Institutional investors and hedge funds own 78.99% of the company’s stock.
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Scholastic Corporation 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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