Scholastic (NASDAQ:SCHL) Shares Gap Up Following Earnings Beat

Scholastic Co. (NASDAQ:SCHL)’s share price gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $18.80, but opened at $19.98. Scholastic shares last traded at $21.10, with a volume of 188,342 shares trading hands.

The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.73. Scholastic had a negative net margin of 0.27% and a positive return on equity of 1.91%. The business had revenue of $335.40 million for the quarter, compared to analyst estimates of $347.68 million.

Scholastic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Wednesday, April 30th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.77%. Scholastic’s dividend payout ratio (DPR) is currently -444.44%.

Hedge Funds Weigh In On Scholastic

Institutional investors and hedge funds have recently bought and sold shares of the stock. Lazard Asset Management LLC acquired a new position in shares of Scholastic during the fourth quarter worth $33,000. KBC Group NV increased its stake in Scholastic by 125.4% during the 4th quarter. KBC Group NV now owns 2,443 shares of the company’s stock worth $52,000 after buying an additional 1,359 shares during the period. FMR LLC lifted its holdings in Scholastic by 58.8% in the 3rd quarter. FMR LLC now owns 2,346 shares of the company’s stock worth $75,000 after buying an additional 869 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Scholastic in the 4th quarter valued at about $96,000. Finally, Sterling Capital Management LLC grew its stake in shares of Scholastic by 7.5% during the fourth quarter. Sterling Capital Management LLC now owns 9,444 shares of the company’s stock valued at $201,000 after acquiring an additional 662 shares in the last quarter. Hedge funds and other institutional investors own 82.57% of the company’s stock.

Scholastic Stock Performance

The firm has a market capitalization of $596.30 million, a PE ratio of -117.88 and a beta of 1.10. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.24 and a quick ratio of 0.81. The stock has a 50-day moving average price of $20.09 and a 200-day moving average price of $24.01.

About Scholastic

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.