Scholastic (NASDAQ:SCHL) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Scholastic (NASDAQ:SCHL) from a hold rating to a sell rating in a research note issued to investors on Thursday morning, Zacks.com reports.

According to Zacks, “Scholastic Corporation is the world’s largest publisher and distributor of children’s books and a leader in educational technology and children’s media. Scholastic creates quality educational and entertaining materials and products for use in school and at home, including children’s books, magazines, technology-based products, teacher materials, television programming, film, videos and toys. The Company distributes its products and services through a variety of channels, including proprietary school-based book clubs and school-based book fairs, retail stores, schools, libraries & television networks. The company distributes its products and services directly to schools and libraries through retail stores and the Internet. “

Separately, BidaskClub downgraded shares of Scholastic from a hold rating to a sell rating in a report on Wednesday, June 24th.

SCHL stock traded down $0.55 on Thursday, hitting $23.93. 226,150 shares of the company’s stock traded hands, compared to its average volume of 165,789. Scholastic has a 1-year low of $20.01 and a 1-year high of $45.80. The stock has a market cap of $818.09 million, a price-to-earnings ratio of -18.55 and a beta of 1.01. The stock has a fifty day moving average of $28.64 and a 200-day moving average of $29.96. The company has a current ratio of 2.06, a quick ratio of 1.01 and a debt-to-equity ratio of 0.24.

Scholastic (NASDAQ:SCHL) last announced its quarterly earnings results on Thursday, July 23rd. The company reported ($0.23) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.93) by $0.70. The company had revenue of $284.00 million for the quarter, compared to analyst estimates of $272.60 million. Scholastic had a negative net margin of 2.95% and a negative return on equity of 0.23%. On average, equities research analysts anticipate that Scholastic will post -0.56 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Friday, August 28th. Scholastic’s payout ratio is -750.00%.

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in Scholastic by 7.6% during the 1st quarter. Geode Capital Management LLC now owns 450,922 shares of the company’s stock valued at $11,494,000 after purchasing an additional 32,025 shares during the last quarter. Nuveen Asset Management LLC grew its position in shares of Scholastic by 34.5% during the 4th quarter. Nuveen Asset Management LLC now owns 213,510 shares of the company’s stock worth $8,210,000 after buying an additional 54,807 shares during the period. Citigroup Inc. grew its position in shares of Scholastic by 16.1% during the 1st quarter. Citigroup Inc. now owns 18,360 shares of the company’s stock worth $468,000 after buying an additional 2,541 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Scholastic by 48.4% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,465 shares of the company’s stock worth $394,000 after buying an additional 5,044 shares during the period. Finally, Norges Bank acquired a new stake in shares of Scholastic during the 4th quarter worth approximately $19,053,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Scholastic Company Profile

Scholastic Corporation publishes and distributes children's books worldwide. It operates in three segments: Children's Book Publishing and Distribution, Education, and International. The Children's Book Publishing and Distribution segment publishes and distributes children's books, e-books, media, and interactive products through its school book club and school book fair channels, as well as through its trade channel.

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