Scholastic (NASDAQ:SCHL) Reaches New 1-Year Low – What’s Next?

Scholastic Co. (NASDAQ:SCHL)’s stock price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $17.48 and last traded at $18.33, with a volume of 188314 shares traded. The stock had previously closed at $18.04.

Scholastic Stock Up 1.1 %

The stock has a fifty day moving average price of $19.84 and a 200 day moving average price of $23.15. 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 market capitalization of $512.56 million, a P/E ratio of -101.33 and a beta of 1.10.

Scholastic (NASDAQ:SCHL) last posted its earnings results on Thursday, March 20th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.73. The business had revenue of $335.40 million for the quarter, compared to analyst estimates of $347.68 million. Scholastic had a negative net margin of 0.27% and a positive return on equity of 1.91%. On average, research analysts forecast that Scholastic Co. will post 0.84 earnings per share for the current year.

Scholastic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, April 30th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, April 30th. This represents a $0.80 annualized dividend and a yield of 4.39%. Scholastic’s payout ratio is presently 133.33%.

Hedge Funds Weigh In On Scholastic

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC bought a new position in Scholastic during the fourth quarter valued at approximately $33,000. KBC Group NV increased its holdings in shares of Scholastic by 125.4% in the fourth 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 increased its stake 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 purchasing an additional 869 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Scholastic during the fourth quarter valued at approximately $96,000. Finally, Sterling Capital Management LLC raised its holdings in Scholastic by 7.5% during the 4th quarter. Sterling Capital Management LLC now owns 9,444 shares of the company’s stock valued at $201,000 after buying an additional 662 shares during the last quarter. 82.57% of the stock is currently 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 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.