Scholastic (NASDAQ:SCHL) Announces Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Scholastic (NASDAQ:SCHLGet Free Report) issued its quarterly earnings data on Thursday. The company reported $2.19 EPS for the quarter, beating the consensus estimate of $2.16 by $0.03, FiscalAI reports. The company had revenue of $476.10 million during the quarter, compared to analysts’ expectations of $517.06 million. Scholastic had a net margin of 3.88% and a return on equity of 2.47%.

Scholastic Trading Up 0.2%

NASDAQ SCHL traded up $0.08 on Thursday, hitting $46.44. The company’s stock had a trading volume of 463,760 shares, compared to its average volume of 460,590. Scholastic has a 52-week low of $21.34 and a 52-week high of $48.07. The firm has a market cap of $1.01 billion, a P/E ratio of 18.73, a PEG ratio of 1.49 and a beta of 0.99. The company’s 50-day simple moving average is $43.58 and its 200 day simple moving average is $38.77.

Scholastic Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a $0.25 dividend. This is an increase from Scholastic’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, August 31st. This represents a $1.00 annualized dividend and a yield of 2.2%. Scholastic’s dividend payout ratio (DPR) is 32.26%.

Analyst Upgrades and Downgrades

SCHL has been the subject of a number of research analyst reports. B. Riley Financial lifted their price objective on shares of Scholastic from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Scholastic in a research note on Thursday, June 18th. Wall Street Zen cut Scholastic from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Finally, Zacks Research lowered Scholastic from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 19th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $42.00.

Check Out Our Latest Research Report on SCHL

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SCHL. Alliancebernstein L.P. raised its stake in Scholastic by 879.3% in the third quarter. Alliancebernstein L.P. now owns 1,159,261 shares of the company’s stock worth $31,741,000 after buying an additional 1,040,880 shares in the last quarter. J. Goldman & Co LP lifted its stake in shares of Scholastic by 4.1% in the 4th quarter. J. Goldman & Co LP now owns 797,878 shares of the company’s stock valued at $23,641,000 after purchasing an additional 31,427 shares during the period. Bragg Financial Advisors Inc boosted its position in shares of Scholastic by 13.0% during the fourth quarter. Bragg Financial Advisors Inc now owns 668,904 shares of the company’s stock valued at $19,820,000 after purchasing an additional 76,801 shares in the last quarter. Invesco Ltd. grew its stake in Scholastic by 57.2% in the fourth quarter. Invesco Ltd. now owns 424,973 shares of the company’s stock worth $12,592,000 after purchasing an additional 154,668 shares during the period. Finally, Verition Fund Management LLC bought a new position in Scholastic in the third quarter worth $7,288,000. 82.57% of the stock is currently owned by institutional investors.

About Scholastic

(Get Free Report)

Scholastic Corporation (NASDAQ: SCHL) is a global company dedicated to children’s publishing, education technology and distribution services. The company’s core business encompasses three primary segments: Children’s Book Publishing and Distribution, Education Technology, and International operations. Through its publishing arm, Scholastic produces and distributes a wide range of children’s books, novels, nonfiction titles and classroom magazines under well-known imprints such as Scholastic Press, Graphix and Chicken House.

See Also

Earnings History for Scholastic (NASDAQ:SCHL)

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