Scholastic (NASDAQ:SCHL) Hits New 12-Month Low on Disappointing Earnings

Scholastic Co. (NASDAQ:SCHL) shares hit a new 52-week low on Friday following a dissappointing earnings announcement. The stock traded as low as $20.80 and last traded at $22.50, with a volume of 66763 shares changing hands. The stock had previously closed at $24.84.

The company reported $1.82 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.48). Scholastic had a net margin of 1.49% and a return on equity of 4.32%.

Scholastic Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, January 31st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.80 annualized dividend and a dividend yield of 4.04%. Scholastic’s dividend payout ratio is currently 142.86%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Scholastic from a “buy” rating to a “hold” rating in a research report on Saturday, October 5th.

Institutional Investors Weigh In On Scholastic

A number of institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC bought a new stake in Scholastic during the second quarter worth about $1,936,000. Acadian Asset Management LLC bought a new stake in Scholastic during the second quarter worth about $1,295,000. Charles Schwab Investment Management Inc. lifted its position in Scholastic by 9.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 502,179 shares of the company’s stock worth $16,075,000 after purchasing an additional 41,864 shares during the period. Martingale Asset Management L P lifted its position in Scholastic by 128.1% during the third quarter. Martingale Asset Management L P now owns 49,529 shares of the company’s stock worth $1,585,000 after purchasing an additional 27,812 shares during the period. Finally, Intech Investment Management LLC lifted its position in Scholastic by 127.8% during the third quarter. Intech Investment Management LLC now owns 33,747 shares of the company’s stock worth $1,080,000 after purchasing an additional 18,933 shares during the period. Institutional investors own 82.57% of the company’s stock.

Scholastic Price Performance

The company’s 50-day moving average is $25.61 and its two-hundred day moving average is $29.83. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.14 and a quick ratio of 0.64. The firm has a market cap of $557.39 million, a P/E ratio of 35.38 and a beta of 1.07.

Scholastic Company Profile

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.