Scholastic (NASDAQ:SCHL) Shares Gap Down – Here’s Why

Shares of Scholastic Co. (NASDAQ:SCHL) gapped down prior to trading on Wednesday . The stock had previously closed at $26.43, but opened at $25.57. Scholastic shares last traded at $25.57, with a volume of 487 shares changing hands.

Analyst Upgrades and Downgrades

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

Scholastic Stock Up 2.0 %

The stock’s 50-day simple moving average is $26.76 and its 200 day simple moving average is $31.08. The company has a quick ratio of 0.64, a current ratio of 1.14 and a debt-to-equity ratio of 0.24. The firm has a market cap of $758.37 million, a P/E ratio of 48.13 and a beta of 1.06.

Scholastic (NASDAQ:SCHL) last released its earnings results on Thursday, September 26th. The company reported ($2.13) EPS for the quarter, topping the consensus estimate of ($2.48) by $0.35. Scholastic had a return on equity of 4.32% and a net margin of 1.49%. The business had revenue of $237.20 million during the quarter, compared to analysts’ expectations of $233.49 million. During the same quarter last year, the firm posted ($2.20) earnings per share. As a group, research analysts forecast that Scholastic Co. will post 1.41 EPS for the current fiscal year.

Scholastic Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, October 31st will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, October 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.97%. Scholastic’s payout ratio is presently 142.86%.

Institutional Investors Weigh In On Scholastic

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Natixis Advisors LLC boosted its position in shares of Scholastic by 3.1% during the 3rd quarter. Natixis Advisors LLC now owns 16,403 shares of the company’s stock worth $525,000 after purchasing an additional 489 shares in the last quarter. Inspire Investing LLC boosted its holdings in Scholastic by 6.4% in the second quarter. Inspire Investing LLC now owns 11,222 shares of the company’s stock worth $398,000 after acquiring an additional 675 shares in the last quarter. Creative Planning grew its stake in Scholastic by 4.4% in the third quarter. Creative Planning now owns 16,135 shares of the company’s stock valued at $516,000 after acquiring an additional 679 shares during the period. FMR LLC increased its holdings in shares of Scholastic by 58.8% during the third quarter. FMR LLC now owns 2,346 shares of the company’s stock valued at $75,000 after acquiring an additional 869 shares in the last quarter. Finally, nVerses Capital LLC acquired a new position in shares of Scholastic during the second quarter worth approximately $35,000. 82.57% of the stock is owned by 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.