Scholastic (NASDAQ:SCHL) Stock Price Up 2.7% – Should You Buy?

Scholastic Corporation (NASDAQ:SCHL) shares traded up 2.7% on Monday . The stock traded as high as $30.47 and last traded at $30.2120. 110,612 shares were traded during mid-day trading, a decline of 66% from the average session volume of 329,241 shares. The stock had previously closed at $29.42.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Scholastic in a research note on Monday, December 22nd. B. Riley initiated coverage on Scholastic in a report on Wednesday, September 3rd. They issued a “buy” rating and a $37.00 price target on the stock. Zacks Research downgraded Scholastic from a “hold” rating to a “strong sell” rating in a report on Monday, December 8th. Finally, Wall Street Zen lowered Scholastic from a “buy” rating to a “hold” rating in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Scholastic has a consensus rating of “Reduce” and an average target price of $37.00.

Scholastic Stock Performance

The company has a market cap of $775.16 million, a PE ratio of -152.35 and a beta of 1.18. The company’s 50 day moving average price is $28.66 and its 200-day moving average price is $26.02. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.24 and a current ratio of 1.67.

Scholastic (NASDAQ:SCHL) last released its quarterly earnings data on Thursday, December 18th. The company reported $2.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.10. Scholastic had a negative net margin of 0.21% and a positive return on equity of 2.66%. The business had revenue of $551.10 million during the quarter, compared to analyst estimates of $556.72 million. During the same period in the previous year, the business earned $1.82 EPS. Equities research analysts anticipate 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, March 16th. Stockholders of record on Friday, January 30th will be issued a $0.20 dividend. The ex-dividend date is Friday, January 30th. This represents a $0.80 annualized dividend and a dividend yield of 2.6%. Scholastic’s dividend payout ratio (DPR) is currently -400.00%.

Hedge Funds Weigh In On Scholastic

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ananym Capital Management LP purchased a new stake in shares of Scholastic in the 1st quarter worth approximately $23,600,000. Alliancebernstein L.P. boosted its stake in Scholastic by 879.3% during the 3rd quarter. Alliancebernstein L.P. now owns 1,159,261 shares of the company’s stock valued at $31,741,000 after purchasing an additional 1,040,880 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Scholastic by 245,664.0% in the 1st quarter. Jones Financial Companies Lllp now owns 518,562 shares of the company’s stock worth $9,790,000 after buying an additional 518,351 shares in the last quarter. Verition Fund Management LLC bought a new position in Scholastic during the third quarter valued at approximately $7,288,000. Finally, Acadian Asset Management LLC lifted its holdings in Scholastic by 286.6% in the second quarter. Acadian Asset Management LLC now owns 184,666 shares of the company’s stock valued at $3,873,000 after acquiring an additional 136,903 shares during the period. Hedge funds and other institutional investors own 82.57% of the company’s stock.

Scholastic Company Profile

Scholastic Corporation (NASDAQ: SCHL) is a global company dedicated to children’s publishing, education technology and distribution services. The company’s core business encompasses three primary segments: Children’s Book Publishing and Distribution, Education Technology, and International operations. Through its publishing arm, Scholastic produces and distributes a wide range of children’s books, novels, nonfiction titles and classroom magazines under well-known imprints such as Scholastic Press, Graphix and Chicken House.