Zacks Investment Research upgraded Scholastic Corporation from a "hold" rating to a "buy" rating and set a $50.00 price objective for the company in a research report on Friday, July 21st.
According to Zacks, "Scholastic Corp. creates and distributes innovative and quality educational materials for use in school - children's books, textbooks, magazines, technology and teacher materials and engaging and appropriate products for use at home - magazines, software, television programming, videos and toys". The company is a world leader in children's school book clubs and school book fairs, through which children purchase books and software.
SCHL has been the topic of several other research reports.
The company added that it typically reports a loss in its fiscal first quarter because most United States schools are not in session and it reaffirmed its 2018 outlook for revenue of US$1.65 bn to US$1.70bn and diluted earnings per share from US$1.20 to US$1.30. BidaskClub raised shares of Scholastic Corporation from a sell rating to a hold rating in a research report on Saturday, June 10th.
The share price of the company (NASDAQ:SCHL) was down -7.06%, with a high of 36.82 during the day and the volume of Scholastic Corporation shares traded was 856271. Scholastic Corporation has a 1-year low of $35.20 and a 1-year high of $49.38. The company's 50-day moving average price is $39.37 and its 200 day moving average price is $42.28.
Scholastic Corporation's stock has a beta of 0.75 meaning it is less volatile than the overall market which definitionaly has a beta of 1. Scholastic Corporation had a return on equity of 3.54% and a net margin of 1.71%. The company had revenue of $189.20 million during the quarter, compared to the consensus estimate of $208.00 million. During the same quarter previous year, the firm posted ($1.15) EPS. The company's revenue for the quarter was down 33.1% compared to the same quarter past year. Analysts expect next quarter's EPS to be $1.67 with next year's EPS projected to be $1.50.
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Amid volatile financial markets and the presidential election, various investment brokerages have made amendments to their price targets and ratings on shares of Scholastic Corporation (NASDAQ:SCHL).
Scholastic Corporation recently announced a dividend paid on Friday the 15th of September 2017. The ex-dividend date was Tuesday the 29th of August 2017. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Monday, October 30th. Scholastic Corporation's payout ratio is presently 41.96%.
Hedge funds have recently bought and sold shares of the stock. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Scholastic Corporation during the first quarter valued at approximately $4,240,000. The stock recorded a rise in short interest of 3.77% between August 15, 2017 and August 31, 2017. Finally, Russell Investments Group Ltd. raised its stake in Scholastic Corporation by 76.6% in the first quarter. Acadian Asset Management LLC grew its holdings in Scholastic Corporation by 51.3% during the second quarter. Ubs Group Ag expanded its position by buying 21,736 shares an increase of 55,733.3% in the quarter.