Key Points
- Scholastic EVP Iole Lucchese sold 289,624 shares at an average price of $39.76, generating approximately $11.5 million and reducing her direct ownership by 50%.
- Scholastic reported quarterly EPS of $2.19, slightly above estimates, but revenue of $476.1 million fell short of the $517.1 million consensus forecast.
- Analyst sentiment remains cautious: Scholastic has an average “Reduce” rating and a $42 price target, while institutional investors own 82.57% of the company.
Scholastic Corporation (NASDAQ:SCHL - Get Free Report) Director Andres Alonso sold 2,112 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $40.28, for a total transaction of $85,071.36. Following the completion of the transaction, the director directly owned 21,189 shares of the company's stock, valued at approximately $853,492.92. This trade represents a 9.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Scholastic Price Performance
Shares of NASDAQ:SCHL opened at $39.11 on Friday. The business's 50 day simple moving average is $43.42 and its 200-day simple moving average is $40.16. The firm has a market capitalization of $737.61 million, a price-to-earnings ratio of 16.71, a price-to-earnings-growth ratio of 1.92 and a beta of 1.01. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.23 and a quick ratio of 0.78. Scholastic Corporation has a 12 month low of $22.68 and a 12 month high of $48.07.
Scholastic (NASDAQ:SCHL - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The company reported $2.19 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.03. The firm had revenue of $476.10 million during the quarter, compared to the consensus estimate of $517.06 million. Scholastic had a return on equity of 5.29% and a net margin of 3.58%.During the same period last year, the business posted $0.59 EPS. As a group, equities analysts forecast that Scholastic Corporation will post 1.6 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
SCHL has been the subject of a number of research reports. Zacks Research cut shares of Scholastic from a "hold" rating to a "strong sell" rating in a research report on Monday, July 27th. B. Riley Financial raised their price objective on shares of Scholastic from $40.00 to $42.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 8th. Finally, Weiss Ratings downgraded Scholastic from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, July 28th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and an average price target of $42.00.
View Our Latest Research Report on SCHL
Institutional Investors Weigh In On Scholastic
A number of hedge funds and other institutional investors have recently modified their holdings of SCHL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Scholastic by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,851 shares of the company's stock valued at $262,000 after buying an additional 630 shares during the last quarter. Quantinno Capital Management LP raised its holdings in Scholastic by 3.2% in the 1st quarter. Quantinno Capital Management LP now owns 23,186 shares of the company's stock valued at $906,000 after acquiring an additional 729 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Scholastic by 4.1% during the 4th quarter. Deutsche Bank AG now owns 20,829 shares of the company's stock worth $617,000 after purchasing an additional 824 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Scholastic during the second quarter worth $43,000. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Scholastic by 1.9% during the second quarter. Public Sector Pension Investment Board now owns 80,195 shares of the company's stock worth $1,682,000 after purchasing an additional 1,509 shares during the last quarter. 82.57% of the stock is currently owned by hedge funds and other institutional investors.
About Scholastic
(
Get Free Report)
Scholastic Corporation (NASDAQ: SCHL) is a global company dedicated to children's publishing, education technology and distribution services. The company's core business encompasses three primary segments: Children's Book Publishing and Distribution, Education Technology, and International operations. Through its publishing arm, Scholastic produces and distributes a wide range of children's books, novels, nonfiction titles and classroom magazines under well-known imprints such as Scholastic Press, Graphix and Chicken House.
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