Scholastic (NASDAQ:SCHL) Shares Gap Up Following Earnings Beat

Scholastic Co. (NASDAQ:SCHL)’s share price gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $18.80, but opened at $19.98. Scholastic shares last traded at $21.10, with a volume of 188,342 shares changing hands.

The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.73. Scholastic had a negative net margin of 0.27% and a positive return on equity of 1.91%. The business had revenue of $335.40 million during the quarter, compared to the consensus estimate of $347.68 million.

Scholastic Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Wednesday, April 30th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend is Wednesday, April 30th. Scholastic’s payout ratio is -444.44%.

Hedge Funds Weigh In On Scholastic

Several institutional investors and hedge funds have recently bought and sold shares of the business. Lazard Asset Management LLC acquired a new stake in shares of Scholastic during the fourth quarter worth approximately $33,000. KBC Group NV lifted its position in Scholastic by 125.4% in the 4th quarter. KBC Group NV now owns 2,443 shares of the company’s stock worth $52,000 after buying an additional 1,359 shares in the last quarter. FMR LLC boosted its stake in shares of Scholastic by 58.8% during the 3rd quarter. FMR LLC now owns 2,346 shares of the company’s stock valued at $75,000 after buying an additional 869 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Scholastic during the 4th quarter valued at $96,000. Finally, Sterling Capital Management LLC increased its stake in shares of Scholastic by 7.5% in the fourth quarter. Sterling Capital Management LLC now owns 9,444 shares of the company’s stock worth $201,000 after acquiring an additional 662 shares during the last quarter. Hedge funds and other institutional investors own 82.57% of the company’s stock.

Scholastic Trading Up 12.9 %

The firm has a market capitalization of $596.30 million, a PE ratio of -117.88 and a beta of 1.10. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.24 and a quick ratio of 0.81. The company has a fifty day moving average of $20.09 and a 200-day moving average of $24.01.

About Scholastic

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.