Scholastic (NASDAQ:SCHL) Hits New 12-Month Low on Disappointing Earnings

Scholastic Co. (NASDAQ:SCHL)’s stock price reached a new 52-week low during mid-day trading on Friday following a weaker than expected earnings announcement. The stock traded as low as $20.80 and last traded at $22.50, with a volume of 66763 shares trading hands. The stock had previously closed at $24.84.

The company reported $1.82 earnings per share (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 Announces Dividend

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

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.

Institutional Trading of Scholastic

Hedge funds have recently bought and sold shares of the stock. nVerses Capital LLC acquired a new stake in Scholastic during the 2nd quarter worth approximately $35,000. Meeder Asset Management Inc. bought a new position in shares of Scholastic during the 3rd quarter worth approximately $46,000. Innealta Capital LLC bought a new position in shares of Scholastic during the 2nd quarter worth approximately $64,000. FMR LLC grew its stake in shares of Scholastic by 58.8% during the 3rd quarter. FMR LLC now owns 2,346 shares of the company’s stock worth $75,000 after acquiring an additional 869 shares in the last quarter. Finally, Paloma Partners Management Co bought a new position in shares of Scholastic during the 3rd quarter worth approximately $243,000. 82.57% of the stock is currently owned by institutional investors and hedge funds.

Scholastic Stock Down 20.2 %

The company has a market capitalization of $557.39 million, a P/E ratio of 35.38 and a beta of 1.07. The firm’s 50 day moving average price is $25.61 and its two-hundred day moving average price is $29.83. The company has a current ratio of 1.14, a quick ratio of 0.64 and a debt-to-equity ratio of 0.24.

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.