Scholastic (NASDAQ:SCHL) Hits New 52-Week High – Should You Buy?

by · The Markets Daily

Scholastic Corporation (NASDAQ:SCHL – Get Free Report)’s share price reached a new 52-week high on Tuesday . The company traded as high as $31.86 and last traded at $29.6430, with a volume of 72286 shares trading hands. The stock had previously closed at $29.71.

Wall Street Analyst Weigh In

SCHL has been the topic of a number of recent analyst reports. B. Riley assumed coverage on Scholastic in a report on Wednesday, September 3rd. They set a “buy” rating and a $37.00 price objective on the stock. Wall Street Zen cut shares of Scholastic from a “buy” rating to a “hold” rating in a research note on Friday, September 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of Scholastic in a report on Wednesday, October 8th. Finally, Zacks Research raised shares of Scholastic from a “strong sell” rating to a “hold” rating in a report on Friday, November 7th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $37.00.

View Our Latest Report on SCHL

Scholastic Stock Down 3.9%

The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.65 and a current ratio of 1.16. The firm’s 50-day moving average is $28.55 and its 200 day moving average is $24.69. The firm has a market capitalization of $709.70 million, a PE ratio of -42.77 and a beta of 1.18.

Scholastic (NASDAQ:SCHL – Get Free Report) last announced its earnings results on Thursday, September 18th. The company reported ($2.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.44) by ($0.08). The business had revenue of $225.60 million for the quarter, compared to analyst estimates of $240.41 million. Scholastic had a positive return on equity of 1.10% and a negative net margin of 0.65%.During the same quarter in the previous year, the firm posted ($2.13) EPS. As a group, research analysts forecast that Scholastic Corporation will post 0.84 earnings per share for the current fiscal year.

Scholastic Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, October 31st will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, October 31st. This represents a $0.80 annualized dividend and a yield of 2.8%. Scholastic’s payout ratio is presently -121.21%.

Hedge Funds Weigh In On Scholastic

A number of institutional investors have recently modified their holdings of SCHL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in 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. US Bancorp DE increased its holdings in shares of Scholastic by 6.2% in the 1st quarter. US Bancorp DE now owns 11,137 shares of the company’s stock worth $210,000 after acquiring an additional 654 shares during the period. GAMMA Investing LLC lifted its position in Scholastic by 63.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,540 shares of the company’s stock valued at $70,000 after purchasing an additional 983 shares during the last quarter. Signaturefd LLC lifted its position in Scholastic by 819.5% in the 2nd quarter. Signaturefd LLC now owns 1,223 shares of the company’s stock valued at $26,000 after purchasing an additional 1,090 shares during the last quarter. Finally, Strs Ohio boosted its stake in Scholastic by 5.0% during the 3rd quarter. Strs Ohio now owns 25,000 shares of the company’s stock valued at $684,000 after purchasing an additional 1,200 shares during the period. Institutional investors and hedge funds own 82.57% of the company’s stock.

Scholastic Company Profile

(Get Free Report)

Scholastic Corporation publishes and distributes children’s books worldwide. It operates in three segments: Children’s Book Publishing and Distribution, Education Solutions, and International. The Children’s Book Publishing and Distribution segment engages in publication and distribution of children’s print, digital, and audio books, as well as media and interactive products through its school reading events and trade channel; and operation of school-based book clubs and book fairs in the United States.

Further Reading