Scholastic (NASDAQ:SCHL) Rating Lowered to Hold at BidaskClub

BidaskClub lowered shares of Scholastic (NASDAQ:SCHL) from a buy rating to a hold rating in a research report sent to investors on Friday morning, BidAskClub reports.

A number of other brokerages have also issued reports on SCHL. ValuEngine lowered shares of Scholastic from a hold rating to a sell rating in a research note on Friday, June 14th. Zacks Investment Research raised shares of Scholastic from a strong sell rating to a buy rating and set a $39.00 price objective for the company in a research note on Thursday, August 1st.

Shares of NASDAQ:SCHL opened at $38.36 on Friday. The firm has a fifty day moving average of $35.90 and a two-hundred day moving average of $36.58. The firm has a market capitalization of $1.34 billion, a P/E ratio of 35.52 and a beta of 0.84. Scholastic has a 12-month low of $31.38 and a 12-month high of $47.94.



Scholastic (NASDAQ:SCHL) last issued its earnings results on Thursday, September 19th. The company reported ($1.59) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.80) by $0.21. The company had revenue of $232.60 million during the quarter, compared to analyst estimates of $217.60 million. Scholastic had a net margin of 1.10% and a return on equity of 3.87%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted ($1.74) EPS. Sell-side analysts expect that Scholastic will post 1.29 earnings per share for the current year.

The firm also recently disclosed a — dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, October 31st will be paid a $0.15 dividend. This represents a dividend yield of 1.6%. The ex-dividend date is Wednesday, October 30th. Scholastic’s payout ratio is presently 55.56%.

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in shares of Scholastic by 0.5% in the 2nd quarter. BlackRock Inc. now owns 4,187,977 shares of the company’s stock valued at $139,209,000 after purchasing an additional 19,057 shares during the last quarter. Royce & Associates LP lifted its stake in shares of Scholastic by 0.9% in the 1st quarter. Royce & Associates LP now owns 2,076,500 shares of the company’s stock valued at $82,562,000 after purchasing an additional 18,400 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Scholastic by 1.3% in the 2nd quarter. Northern Trust Corp now owns 1,219,831 shares of the company’s stock valued at $40,547,000 after purchasing an additional 15,771 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Scholastic by 4.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 864,583 shares of the company’s stock valued at $28,739,000 after purchasing an additional 36,151 shares during the last quarter. Finally, Zuckerman Investment Group LLC lifted its stake in shares of Scholastic by 7.6% in the 2nd quarter. Zuckerman Investment Group LLC now owns 699,675 shares of the company’s stock valued at $23,257,000 after purchasing an additional 49,319 shares during the last quarter. 79.02% of the stock is owned by institutional investors and hedge funds.

About Scholastic

Scholastic Corporation publishes and distributes children's books worldwide. It operates in three segments: Children's Book Publishing and Distribution, Education, and International. The Children's Book Publishing and Distribution segment publishes and distributes children's books, e-books, media, and interactive products through its school book club and school book fair channels, as well as through its trade channel.

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