Pearson (NYSE:PSO) Sets New 12-Month High – Time to Buy?

Shares of Pearson, PLC (NYSE:PSO) hit a new 52-week high during trading on Wednesday. The company traded as high as $18.40 and last traded at $18.2350, with a volume of 655,376 shares traded. The stock had previously closed at $18.19.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PSO shares. Kepler Capital Markets lowered shares of Pearson from a “hold” rating to a “strong sell” rating in a research report on Monday, September 7th. Wall Street Zen downgraded shares of Pearson from a “buy” rating to a “hold” rating in a research note on Sunday, September 6th. Citigroup reiterated a “neutral” rating on shares of Pearson in a report on Wednesday. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Pearson in a research note on Monday, August 3rd. Finally, The Goldman Sachs Group cut Pearson from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Pearson Trading Up 1.2%

The company has a current ratio of 2.00, a quick ratio of 1.94 and a debt-to-equity ratio of 0.50. The company’s fifty day simple moving average is $16.46 and its 200-day simple moving average is $15.83.

Pearson Cuts Dividend

The firm also recently declared a dividend, which was paid on Monday, September 21st. Stockholders of record on Friday, August 14th were given a $0.1103 dividend. This represents a dividend yield of 137.0%. The ex-dividend date of this dividend was Friday, August 14th. This is a drop from Pearson’s previous dividend of $0.2346.

Hedge Funds Weigh In On Pearson

Hedge funds and other institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd purchased a new position in Pearson during the fourth quarter valued at approximately $64,000. Royal Bank of Canada raised its stake in Pearson by 86.5% in the first quarter. Royal Bank of Canada now owns 5,613 shares of the company’s stock worth $74,000 after buying an additional 2,604 shares in the last quarter. SmartHarvest Portfolios LLC purchased a new stake in Pearson during the first quarter worth $134,000. GAMMA Investing LLC lifted its holdings in Pearson by 44.3% during the second quarter. GAMMA Investing LLC now owns 8,880 shares of the company’s stock worth $141,000 after buying an additional 2,727 shares during the period. Finally, Keybank National Association OH purchased a new stake in Pearson during the first quarter worth $147,000. 2.14% of the stock is currently owned by institutional investors.

About Pearson

Pearson plc is a global education company that provides learning, assessment and workforce-skills services to individuals, schools, colleges, universities, businesses and governments. Its offerings include digital learning platforms, online courseware, textbooks, academic and professional assessments, qualifications, English-language learning programs and career-development solutions.

The company serves customers across numerous international markets, with operations and products supporting learners and educational institutions in North America, the United Kingdom, Europe, Asia-Pacific and other regions.