Scholastic (SCHL) Lowered to Hold at BidaskClub

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BidaskClub downgraded shares of Scholastic (NASDAQ:SCHL) from a buy rating to a hold rating in a report issued on Friday morning.

Several other equities analysts have also issued reports on the company. Stifel Nicolaus boosted their price target on Scholastic from $43.00 to $44.00 and gave the company a hold rating in a research note on Friday, September 28th. TheStreet lowered Scholastic from a b- rating to a c rating in a research note on Monday, September 17th. Zacks Investment Research lowered Scholastic from a hold rating to a sell rating in a research note on Saturday, September 15th. UBS Group reissued a sell rating on shares of Scholastic in a research note on Tuesday, August 21st. Finally, ValuEngine raised Scholastic from a hold rating to a buy rating in a research note on Saturday, September 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Scholastic presently has a consensus rating of Hold and an average target price of $49.00.

SCHL traded down $0.96 during trading on Friday, hitting $42.67. The company’s stock had a trading volume of 173,814 shares, compared to its average volume of 97,254. Scholastic has a twelve month low of $33.85 and a twelve month high of $47.94. The firm has a market cap of $1.53 billion, a PE ratio of 32.81 and a beta of 0.74.

Scholastic (NASDAQ:SCHL) last issued its quarterly earnings results on Thursday, September 27th. The company reported ($1.74) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.93) by $0.19. Scholastic had a positive return on equity of 3.82% and a negative net margin of 0.16%. The firm had revenue of $218.40 million for the quarter, compared to analyst estimates of $198.70 million. During the same period in the previous year, the firm earned $1.31 earnings per share. The company’s revenue was up 15.4% compared to the same quarter last year. As a group, equities research analysts expect that Scholastic will post 1.5 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Wednesday, October 31st will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.41%. The ex-dividend date is Tuesday, October 30th. Scholastic’s dividend payout ratio (DPR) is presently 41.96%.

In other news, EVP Judith Newman sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $42.01, for a total transaction of $105,025.00. Following the transaction, the executive vice president now directly owns 16,335 shares of the company’s stock, valued at $686,233.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alan J. Boyko sold 12,953 shares of the company’s stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $45.07, for a total value of $583,791.71. Following the transaction, the insider now directly owns 55,545 shares in the company, valued at $2,503,413.15. The disclosure for this sale can be found here. Insiders have sold 24,294 shares of company stock worth $1,095,821 over the last ninety days. 22.30% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Scholastic by 4.2% during the third quarter. BlackRock Inc. now owns 3,964,151 shares of the company’s stock worth $185,086,000 after purchasing an additional 160,067 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Scholastic by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 2,802,005 shares of the company’s stock worth $130,826,000 after purchasing an additional 21,825 shares during the period. Vanguard Group Inc. raised its position in shares of Scholastic by 3.1% during the third quarter. Vanguard Group Inc. now owns 2,495,369 shares of the company’s stock worth $116,509,000 after purchasing an additional 74,211 shares during the period. Northern Trust Corp raised its position in shares of Scholastic by 0.5% during the second quarter. Northern Trust Corp now owns 1,232,578 shares of the company’s stock worth $54,615,000 after purchasing an additional 6,243 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Scholastic by 1.4% during the third quarter. Bank of New York Mellon Corp now owns 861,811 shares of the company’s stock worth $40,237,000 after purchasing an additional 12,270 shares during the period. 80.71% of the stock is currently owned by institutional investors.

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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