Scholastic (NASDAQ:SCHL) Sets New 12-Month Low After Earnings Miss

Scholastic Co. (NASDAQ:SCHL) hit a new 52-week low on Friday following a weaker than expected earnings announcement. The company 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 analysts’ consensus estimates of $2.30 by ($0.48). Scholastic had a net margin of 1.49% and a return on equity of 4.32%.

Scholastic Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, January 31st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $0.80 annualized dividend and a yield of 4.04%. Scholastic’s dividend payout ratio is presently 142.86%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Scholastic

Hedge funds have recently made changes to their positions in the stock. Azarias Capital Management L.P. lifted its position in shares of Scholastic by 32.7% in the 2nd quarter. Azarias Capital Management L.P. now owns 264,565 shares of the company’s stock worth $9,384,000 after purchasing an additional 65,120 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Scholastic by 155.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 14,744 shares of the company’s stock worth $523,000 after buying an additional 8,968 shares during the last quarter. Innealta Capital LLC acquired a new position in Scholastic in the second quarter valued at $64,000. Commonwealth Equity Services LLC acquired a new stake in Scholastic during the 2nd quarter worth about $279,000. Finally, nVerses Capital LLC bought a new position in shares of Scholastic in the 2nd quarter worth about $35,000. 82.57% of the stock is currently owned by institutional investors.

Scholastic Price Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.64 and a current ratio of 1.14. The business has a 50 day moving average price of $25.75 and a 200-day moving average price of $29.94. The company has a market capitalization of $557.39 million, a price-to-earnings 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.