Scholastic (SCHL) Upgraded to Buy by BidaskClub

BidaskClub upgraded shares of Scholastic (NASDAQ:SCHL) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

SCHL has been the topic of a number of other reports. Stifel Nicolaus restated a hold rating on shares of Scholastic in a research note on Thursday, September 21st. Zacks Investment Research upgraded Scholastic from a strong sell rating to a hold rating in a research note on Tuesday, September 26th.

Shares of Scholastic (SCHL) traded up $0.38 during mid-day trading on Wednesday, hitting $41.98. The company’s stock had a trading volume of 108,100 shares, compared to its average volume of 127,349. Scholastic has a one year low of $33.51 and a one year high of $49.38. The stock has a market cap of $1,456.58, a P/E ratio of 32.76 and a beta of 0.78.

Scholastic (NASDAQ:SCHL) last announced its earnings results on Thursday, September 21st. The company reported ($1.67) earnings per share for the quarter, missing the consensus estimate of ($1.34) by ($0.33). Scholastic had a net margin of 1.71% and a return on equity of 3.57%. The company had revenue of $189.20 million during the quarter, compared to analysts’ expectations of $208.00 million. During the same quarter last year, the business posted ($1.15) earnings per share. The company’s revenue for the quarter was down 33.1% compared to the same quarter last year. research analysts expect that Scholastic will post 1.19 earnings per share for the current fiscal year.

The firm also recently declared 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. The ex-dividend date is Monday, October 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.43%. Scholastic’s dividend payout ratio (DPR) is presently 77.92%.

In other Scholastic news, insider Alan J. Boyko sold 13,100 shares of the business’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $40.79, for a total transaction of $534,349.00. Following the sale, the insider now directly owns 44,146 shares in the company, valued at $1,800,715.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Alan J. Boyko sold 2,673 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $42.05, for a total value of $112,399.65. Following the sale, the insider now owns 39,548 shares in the company, valued at $1,662,993.40. The disclosure for this sale can be found here. 22.30% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its position in Scholastic by 1.1% during the second quarter. BlackRock Inc. now owns 3,380,237 shares of the company’s stock worth $147,344,000 after purchasing an additional 35,595 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Scholastic by 0.7% in the third quarter. Dimensional Fund Advisors LP now owns 2,806,160 shares of the company’s stock worth $104,389,000 after acquiring an additional 19,627 shares during the last quarter. Royce & Associates LP raised its holdings in shares of Scholastic by 3.0% in the third quarter. Royce & Associates LP now owns 2,218,324 shares of the company’s stock worth $82,522,000 after acquiring an additional 64,324 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Scholastic by 0.9% in the second quarter. Vanguard Group Inc. now owns 2,148,931 shares of the company’s stock worth $93,672,000 after acquiring an additional 19,222 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Scholastic by 5.6% in the second quarter. Alliancebernstein L.P. now owns 2,007,484 shares of the company’s stock worth $87,506,000 after acquiring an additional 107,349 shares during the last quarter. Institutional investors own 79.51% of the company’s stock.

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About Scholastic

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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