Scholastic (SCHL) Set to Announce Quarterly Earnings on Thursday

Scholastic (NASDAQ:SCHL) will be issuing its 08/31/2023 quarterly earnings data after the market closes on Thursday, September 21st. Analysts expect the company to announce earnings of ($1.20) per share for the quarter. Scholastic has set its FY 2024 guidance at EPS.Parties interested in participating in the company’s conference call can do so using this link.

Scholastic (NASDAQ:SCHL) last announced its earnings results on Thursday, July 20th. The company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.56. Scholastic had a return on equity of 7.35% and a net margin of 5.06%. The business had revenue of $528.30 million for the quarter, compared to analyst estimates of $541.76 million. On average, analysts expect Scholastic to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Scholastic Stock Performance

Shares of NASDAQ SCHL opened at $38.66 on Tuesday. Scholastic has a 1 year low of $28.22 and a 1 year high of $47.25. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of 15.59 and a beta of 1.07. The stock’s 50-day simple moving average is $42.53 and its 200-day simple moving average is $40.32.

Scholastic Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Wednesday, August 30th. Scholastic’s payout ratio is 32.26%.

Analyst Ratings Changes

SCHL has been the subject of several research analyst reports. TheStreet raised Scholastic from a “c+” rating to a “b+” rating in a report on Monday, August 21st. StockNews.com initiated coverage on Scholastic in a research note on Thursday, August 17th. They issued a “buy” rating for the company.

Insider Buying and Selling at Scholastic

In other Scholastic news, Director John L. Davies sold 4,530 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $43.68, for a total transaction of $197,870.40. Following the sale, the director now directly owns 3,930 shares of the company’s stock, valued at approximately $171,662.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 18.62% of the stock is owned by corporate insiders.

Institutional Trading of Scholastic

Hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Middle East FZE purchased a new stake in shares of Scholastic during the fourth quarter worth $49,000. Tower Research Capital LLC TRC increased its position in Scholastic by 57.2% during the second quarter. Tower Research Capital LLC TRC now owns 1,300 shares of the company’s stock worth $51,000 after buying an additional 473 shares during the last quarter. Captrust Financial Advisors increased its position in Scholastic by 69.8% during the first quarter. Captrust Financial Advisors now owns 2,054 shares of the company’s stock worth $83,000 after buying an additional 844 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Scholastic by 19.3% during the second quarter. PNC Financial Services Group Inc. now owns 2,741 shares of the company’s stock worth $107,000 after buying an additional 444 shares during the last quarter. Finally, Royal Bank of Canada increased its position in Scholastic by 81.5% during the second quarter. Royal Bank of Canada now owns 2,994 shares of the company’s stock worth $116,000 after buying an additional 1,344 shares during the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

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 books, eBooks, media, and interactive products through its school book clubs and fair channels, and trade channel.