Scholastic Corp (NASDAQ:SCHL) – Gabelli boosted their FY2018 earnings per share estimates for Scholastic in a research note issued on Friday. Gabelli analyst B. Lucas now expects that the company will post earnings of $1.27 per share for the year, up from their prior forecast of $1.25. Gabelli also issued estimates for Scholastic’s FY2019 earnings at $1.37 EPS and FY2020 earnings at $1.64 EPS.
SCHL has been the topic of several other research reports. Zacks Investment Research lowered Scholastic from a “hold” rating to a “sell” rating in a research note on Wednesday, September 20th. TheStreet raised Scholastic from a “c” rating to a “b-” rating in a research note on Thursday, December 14th. BidaskClub lowered Scholastic from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Finally, Stifel Nicolaus upped their price target on Scholastic from $38.00 to $41.00 and gave the company a “hold” rating in a research note on Wednesday, December 13th.
Scholastic (NASDAQ:SCHL) last announced its quarterly earnings results on Thursday, December 14th. The company reported $1.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.75 by $0.17. Scholastic had a return on equity of 3.43% and a net margin of 1.07%. The business had revenue of $598.30 million for the quarter, compared to analyst estimates of $601.40 million. During the same quarter in the prior year, the company posted $1.92 EPS. The company’s quarterly revenue was down 4.0% on a year-over-year basis.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Neuberger Berman Group LLC lifted its stake in Scholastic by 28.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 489,971 shares of the company’s stock worth $18,227,000 after acquiring an additional 108,156 shares in the last quarter. Magnetar Financial LLC lifted its stake in Scholastic by 240.3% during the 3rd quarter. Magnetar Financial LLC now owns 34,689 shares of the company’s stock worth $1,290,000 after acquiring an additional 24,496 shares in the last quarter. Zuckerman Investment Group LLC lifted its stake in Scholastic by 6.9% during the 3rd quarter. Zuckerman Investment Group LLC now owns 631,913 shares of the company’s stock worth $23,507,000 after acquiring an additional 41,037 shares in the last quarter. Royce & Associates LP lifted its stake in Scholastic by 3.0% during the 3rd quarter. Royce & Associates LP now owns 2,218,324 shares of the company’s stock worth $82,522,000 after acquiring an additional 64,324 shares in the last quarter. Finally, OxFORD Asset Management LLP acquired a new position in Scholastic during the 3rd quarter worth about $3,841,000. 79.36% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Alan J. Boyko sold 2,673 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $42.05, for a total transaction of $112,399.65. Following the transaction, the insider now owns 39,548 shares of the company’s stock, valued at approximately $1,662,993.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Alan J. Boyko sold 13,100 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $40.79, for a total value of $534,349.00. Following the transaction, the insider now directly owns 44,146 shares in the company, valued at approximately $1,800,715.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,100 shares of company stock worth $954,483. Corporate insiders own 22.30% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, January 31st will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Tuesday, January 30th. Scholastic’s dividend payout ratio (DPR) is presently 133.33%.
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Scholastic Company Profile
Scholastic Corporation is a publisher and distributor of children’s books, a provider of print and digital instructional materials for pre-kindergarten (pre-K) to grade 12, and a producer of educational and entertaining children’s media. The Company operates through three segments: Children’s Book Publishing and Distribution, Education and International.
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