Scholastic (NASDAQ:SCHL) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Scholastic (NASDAQ:SCHL) from a hold rating to a buy rating in a research report sent to investors on Friday.

Scholastic Stock Performance

NASDAQ SCHL opened at $31.34 on Friday. The stock has a market capitalization of $885.04 million, a P/E ratio of 21.61 and a beta of 1.02. The business’s fifty day moving average is $33.19 and its two-hundred day moving average is $35.72. Scholastic has a 1 year low of $28.47 and a 1 year high of $44.73.

Scholastic (NASDAQ:SCHL) last announced its earnings results on Thursday, July 18th. The company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.66 by ($0.93). Scholastic had a return on equity of 3.34% and a net margin of 0.76%. The company had revenue of $474.90 million for the quarter, compared to analyst estimates of $552.50 million. On average, research analysts forecast that Scholastic will post 1.52 earnings per share for the current year.

Scholastic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 30th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Friday, August 30th. Scholastic’s payout ratio is 55.17%.

Insider Activity

In other news, CEO Warwick Peter acquired 1,674 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased at an average price of $30.46 per share, with a total value of $50,990.04. Following the purchase, the chief executive officer now owns 104,349 shares of the company’s stock, valued at approximately $3,178,470.54. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Warwick Peter bought 1,674 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were bought at an average cost of $30.46 per share, with a total value of $50,990.04. Following the purchase, the chief executive officer now directly owns 104,349 shares in the company, valued at $3,178,470.54. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Iole Lucchese bought 1,654 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was acquired at an average cost of $30.49 per share, with a total value of $50,430.46. Following the transaction, the executive vice president now owns 74,264 shares of the company’s stock, valued at $2,264,309.36. The disclosure for this purchase can be found here. 18.62% of the stock is owned by company insiders.

Hedge Funds Weigh In On Scholastic

Several institutional investors and hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd purchased a new position in shares of Scholastic during the 4th quarter valued at $1,823,000. Jacobs Levy Equity Management Inc. raised its holdings in shares of Scholastic by 16.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 306,017 shares of the company’s stock worth $11,540,000 after acquiring an additional 43,199 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Scholastic by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 430,679 shares of the company’s stock valued at $16,237,000 after purchasing an additional 20,961 shares during the last quarter. Allianz Asset Management GmbH grew its stake in Scholastic by 55.6% in the fourth quarter. Allianz Asset Management GmbH now owns 64,154 shares of the company’s stock valued at $2,419,000 after purchasing an additional 22,933 shares in the last quarter. Finally, National Bank of Canada FI acquired a new position in Scholastic in the 4th quarter worth about $1,013,000. Hedge funds and other institutional investors own 82.57% 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 Solutions, and International. The Children’s Book Publishing and Distribution segment engages in publication and distribution of children’s print, digital, and audio books, as well as media and interactive products through its school reading events and trade channel; and operation of school-based book clubs and book fairs in the United States.