Published On: Thu, Sep 22nd, 2016

Scholastic Corp. (SCHL) Upgraded to “Hold” by Zacks Investment Research

Scholastic Corp. (NASDAQ:SCHL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.
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) “
Separately, TheStreet upgraded Scholastic Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, July 21st.

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Shares of Scholastic Corp. (NASDAQ:SCHL) opened at 38.365 on Thursday. The firm’s 50-day moving average price is $40.10 and its 200 day moving average price is $38.56. The company has a market capitalization of $1.32 billion, a PE ratio of 33.073 and a beta of 0.59. Scholastic Corp. has a 52 week low of $30.34 and a 52 week high of $44.24.
Scholastic Corp. (NASDAQ:SCHL) last announced its quarterly earnings results on Thursday, July 21st. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.27. The company had revenue of $513.80 million for the quarter, compared to the consensus estimate of $501.60 million. Scholastic Corp. had a return on equity of 4.85% and a net margin of 2.42%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the firm earned $0.93 EPS. Equities analysts predict that Scholastic Corp. will post $1.66 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Monday, October 31st will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.56%. Scholastic Corp.’s dividend payout ratio (DPR) is presently 56.07%.
In related news, CEO Richard Robinson sold 18,158 shares of the firm’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $40.68, for a total value of $738,667.44. Following the transaction, the chief executive officer now directly owns 4,390,978 shares of the company’s stock, valued at approximately $178,624,985.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Judith Newman sold 7,600 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $41.30, for a total transaction of $313,880.00. Following the completion of the transaction, the executive vice president now directly owns 30,391 shares in the company, valued at $1,255,148.30. The disclosure for this sale can be found here. Insiders own 24.16% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Royce & Associates LP raised its position in shares of Scholastic Corp. by 1.8% in the second quarter. Royce & Associates LP now owns 2,124,500 shares of the company’s stock worth $84,151,000 after buying an additional 38,500 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Scholastic Corp. by 3.3% in the second quarter. Vanguard Group Inc. now owns 1,913,048 shares of the company’s stock worth $75,776,000 after buying an additional 61,415 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Scholastic Corp. by 3.8% in the second quarter. BlackRock Fund Advisors now owns 1,760,467 shares of the company’s stock worth $69,732,000 after buying an additional 64,701 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Scholastic Corp. by 53.6% in the second quarter. Bank of New York Mellon Corp now owns 779,194 shares of the company’s stock worth $30,863,000 after buying an additional 272,035 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in shares of Scholastic Corp. by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 669,603 shares of the company’s stock worth $25,023,000 after buying an additional 10,785 shares in the last quarter. 82.58% 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. The Company has three segments: Children’s Book Publishing and Distribution, Education and International. The Company’s Children’s Book Publishing and Distribution segment includes the publication and distribution of children’s books, e-books, media and interactive products in the United States through its book clubs and book fairs in its school channels and through the trade channel.

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