Scholastic (NASDAQ:SCHL) Stock Lifted to “Hold” by Wall Street Zen

Wall Street Zen upgraded shares of Scholastic (NASDAQ:SCHL – Free Report) from a sell rating to a hold rating in a research report released on Sunday morning,Wall Street Zen reports.

A number of other research analysts have also recently weighed in on SCHL. B. Riley Financial cut their price objective on shares of Scholastic from $42.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, September 28th. Weiss Ratings lowered shares of Scholastic from a “hold (c+)” rating to a “hold (c-)” rating in a report on Monday, September 28th. Finally, Zacks Research raised shares of Scholastic from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 22nd. Three analysts have rated the stock with a Hold rating. According to MarketBeat, Scholastic has an average rating of “Hold” and an average target price of $35.00.

Get Our Latest Stock Analysis on SCHL

Scholastic Stock Performance

NASDAQ SCHL opened at $37.67 on Friday. The company has a market cap of $710.46 million, a P/E ratio of 26.91, a P/E/G ratio of 2.06 and a beta of 1.08. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.71 and a current ratio of 1.25. The business’s 50 day moving average price is $37.71 and its 200-day moving average price is $40.55. Scholastic has a fifty-two week low of $26.38 and a fifty-two week high of $48.07.

Scholastic (NASDAQ:SCHL – Get Free Report) last released its quarterly earnings results on Thursday, September 24th. The company reported ($3.63) earnings per share for the quarter, missing the consensus estimate of ($3.42) by ($0.21). The company had revenue of $216.80 million for the quarter, compared to analysts’ expectations of $224.69 million. Scholastic had a net margin of 3.60% and a return on equity of 5.00%. Sell-side analysts predict that Scholastic will post 1.41 earnings per share for the current year.

Scholastic Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Friday, October 30th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, October 30th. Scholastic’s dividend payout ratio is presently 71.43%.

Insider Buying and Selling

In related news, EVP Iole Lucchese sold 289,624 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $39.76, for a total transaction of $11,515,450.24. Following the completion of the sale, the executive vice president directly owned 289,623 shares of the company’s stock, valued at approximately $11,515,410.48. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andres A. Alonso sold 2,112 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $40.28, for a total value of $85,071.36. Following the transaction, the director owned 21,189 shares of the company’s stock, valued at approximately $853,492.92. The trade was a 9.06% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 294,986 shares of company stock valued at $11,731,334. Insiders own 12.77% of the company’s stock.

Institutional Trading of Scholastic

Several institutional investors and hedge funds have recently made changes to their positions in SCHL. Meeder Asset Management Inc. bought a new position in shares of Scholastic in the second quarter worth about $43,000. Integrated Wealth Concepts LLC bought a new stake in Scholastic during the 2nd quarter valued at about $56,000. State of Wyoming bought a new stake in Scholastic during the 2nd quarter valued at about $115,000. iSAM Funds UK Ltd purchased a new stake in Scholastic in the 2nd quarter valued at about $235,000. Finally, Pallas Capital Advisors LLC purchased a new stake in Scholastic in the 2nd quarter valued at about $247,000. 82.57% of the stock is currently owned by institutional investors.

Scholastic Company Profile

(Get Free Report)

Scholastic Corporation is a global children’s publishing, education and media company founded in 1920 by M. R. Robinson. Headquartered in New York City, the company develops and distributes books, digital resources and educational materials for children, families, teachers and schools.

Its publishing portfolio includes picture books, middle-grade and young adult titles, classroom magazines, reference materials and educational technology. Scholastic is associated with well-known brands and series such as Harry Potter in the United States, Clifford the Big Red Dog, The Magic School Bus, Captain Underpants, Dog Man and Goosebumps.

Further Reading

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