Scholastic (NASDAQ:SCHL) Issues Quarterly Earnings Results

Scholastic (NASDAQ:SCHL) released its quarterly earnings data on Thursday. The company reported ($3.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.42) by ($0.21), FiscalAI reports. Scholastic had a net margin of 3.58% and a return on equity of 5.29%. The business had revenue of $216.80 million during the quarter, compared to analysts’ expectations of $224.69 million.

Scholastic Stock Performance

Shares of SCHL stock traded down $0.53 during mid-day trading on Thursday, reaching $34.83. 644,103 shares of the company’s stock traded hands, compared to its average volume of 439,863. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.78 and a current ratio of 1.23. Scholastic has a 12 month low of $25.91 and a 12 month high of $48.07. The firm has a market capitalization of $656.89 million, a PE ratio of 14.88, a price-to-earnings-growth ratio of 1.68 and a beta of 1.01. The firm has a 50 day moving average price of $39.94 and a two-hundred day moving average price of $40.46.

Scholastic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Friday, October 30th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, October 30th. This represents a $1.00 dividend on an annualized basis and a yield of 2.9%. Scholastic’s dividend payout ratio is currently 42.74%.

Insiders Place Their Bets

In other news, Director Kaya Henderson sold 3,250 shares of Scholastic stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $40.25, for a total transaction of $130,812.50. Following the completion of the sale, the director directly owned 7,113 shares in the company, valued at approximately $286,298.25. This trade represents a 31.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Iole Lucchese sold 289,624 shares of the company’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $39.76, for a total transaction of $11,515,450.24. Following the completion of the transaction, the executive vice president owned 289,623 shares in the company, valued at $11,515,410.48. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 294,986 shares of company stock worth $11,731,334 in the last three months. 12.77% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Zacks Research raised shares of Scholastic from a “strong sell” rating to a “hold” rating in a report on Tuesday. B. Riley Financial increased their price target on shares of Scholastic from $40.00 to $42.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Finally, Weiss Ratings raised Scholastic from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, September 11th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $42.00.

Scholastic Company Profile

Scholastic Corporation is a global children’s publishing, education and media company. Founded in 1920 by M. R. Robinson, the company develops and distributes books, classroom materials, digital learning resources and educational media for children, families, teachers and schools.

Its publishing portfolio includes original and licensed children’s books, series and educational titles, while its education business provides classroom magazines, supplemental curriculum materials, professional learning resources and digital platforms.