Zacks Investment Research downgraded shares of Scholastic Corporation (NASDAQ:SCHL) from a hold rating to a sell rating in a research note published on Wednesday morning. The Business's Education segment includes the publication and distribution to schools and libraries of children's books, classroom magazines, supplemental classroom materials, and print and online reference and non-fiction products for grades pre-K to 12 in the United States. The company is a world leader in children's school book clubs and school book fairs, through which children purchase books and software.
A number of other brokerages have also commented on SCHL.
The company added that it typically reports a loss in its fiscal first quarter because most U.S. schools are not in session and it reaffirmed its 2018 outlook for revenue of US$1.65 bn to US$1.70bn and diluted earnings per share from US$1.20 to US$1.30. BidaskClub cut shares of Scholastic Corporation from a "hold" rating to a "sell" rating in a research report on Saturday, July 8th.
Scholastic Corporation is trading down by 6.73% percent from yesterday's close and is one of the laggers in today's market.
The analysts offering 12 month price targets for Scholastic Corporation have a median target of $44, with a high estimate of $44 and a low estimate of $44. The company's 50-day moving average price is $39.37 and its 200 day moving average price is $42.28. The stock has a market cap of $1.27 billion, a P/E ratio of 45.63 and a beta of 0.75. The company reported ($1.67) EPS for the quarter, missing the Zacks' consensus estimate of ($1.34) by ($0.33). Royce & Associates LP lifted its holdings in shares of Scholastic Corporation by 1.9% during the 2nd quarter.
It's affirmed its full-year outlook for revenues of $1.65B-$1.7B (vs. consensus for $1.68B) and EPS of $1.20-$1.30 (vs. expectations for $1.24). On average, analysts forecast that Scholastic Corporation will post $1.14 EPS for the current year. The legal version of this report can be read at https://www.dispatchtribunal.com/2017/09/23/scholastic-corporation-schl-rating-reiterated-by-stifel-nicolaus.html. If you are accessing this news story on another site, it was illegally copied and reposted in violation of worldwide trademark & copyright legislation.
Traders are more bearish on shares of Scholastic Corporation of late as implied by the uptick in short interest.
Scholastic Corporation (NASDAQ:SCHL) last announced its quarterly earnings data on Thursday, September 21st. Investors of record on Tuesday, October 31st will be paid a $0.15 dividend. The dividend was $0.150 per share for the quarter or $0.60 on an annualized basis. The ex-dividend date is Monday, October 30th.
04/28/2015 - Scholastic Corporation was upgraded to "buy" by analysts at Gabelli. Institutional investors and hedge funds own 78.99% of the company's stock. Public Employees Retirement System of OH boosted its stake in Scholastic Corporation by 5.3% in the 2nd quarter. The company had a rise in short interest between August 15, 2017 and August 31, 2017 of 3.77%. Finally, Russell Investments Group Ltd. raised its stake in Scholastic Corporation by 76.6% in the first quarter. The Manufacturers Life Insurance Company boosted its stake in Scholastic Corporation by 3.7% in the 2nd quarter. Vanguard Group Inc. now owns 2,148,931 shares of the company's stock valued at $93,672,000 after buying an additional 19,222 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Scholastic Corporation by 5.6% during the second quarter.