BidaskClub Downgrades Scholastic (NASDAQ:SCHL) to Hold

BidaskClub lowered shares of Scholastic (NASDAQ:SCHL) from a buy rating to a hold rating in a report published on Friday, September 20th, BidAskClub reports.

A number of other research firms also recently commented on SCHL. ValuEngine downgraded Scholastic from a hold rating to a sell rating in a report on Friday, June 14th. Zacks Investment Research raised Scholastic from a strong sell rating to a buy rating and set a $39.00 target price for the company in a report on Thursday, August 1st.

SCHL opened at $37.47 on Friday. The business’s 50-day moving average is $36.16 and its two-hundred day moving average is $36.52. Scholastic has a 1 year low of $31.38 and a 1 year high of $47.88. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.50 and a quick ratio of 1.18. The firm has a market capitalization of $1.30 billion, a PE ratio of 34.69 and a beta of 0.84.

Scholastic (NASDAQ:SCHL) last issued its quarterly earnings results on Thursday, September 19th. The company reported ($1.59) earnings per share for the quarter, topping the consensus estimate of ($1.80) by $0.21. The business had revenue of $232.60 million during the quarter, compared to the consensus estimate of $217.60 million. Scholastic had a return on equity of 3.93% and a net margin of 1.10%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company earned ($1.74) earnings per share. As a group, sell-side analysts expect that Scholastic will post 1.2 EPS for the current year.

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

A number of hedge funds have recently made changes to their positions in the stock. Atria Investments LLC purchased a new position in Scholastic during the second quarter valued at approximately $250,000. Kovitz Investment Group Partners LLC increased its position in shares of Scholastic by 5.4% in the second quarter. Kovitz Investment Group Partners LLC now owns 34,400 shares of the company’s stock valued at $1,143,000 after buying an additional 1,750 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its position in shares of Scholastic by 98.7% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 21,867 shares of the company’s stock valued at $727,000 after buying an additional 10,862 shares in the last quarter. Engine Capital Management LP purchased a new stake in shares of Scholastic in the second quarter valued at approximately $462,000. Finally, Nuveen Asset Management LLC purchased a new stake in shares of Scholastic in the second quarter valued at approximately $4,770,000. Institutional investors own 79.02% of the company’s stock.

Scholastic Company Profile

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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