Zacks: Brokerages Set $40.00 Target Price for Scholastic Corp (SCHL)

Shares of Scholastic Corp (NASDAQ:SCHL) have been given an average broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.

Analysts have set a twelve-month consensus price target of $40.00 for the company and are expecting that the company will post $1.39 earnings per share for the current quarter, according to Zacks. Zacks has also given Scholastic an industry rank of 246 out of 255 based on the ratings given to its competitors.

Several equities research analysts have recently weighed in on SCHL shares. Gabelli reissued a “buy” rating on shares of Scholastic in a research note on Friday, March 23rd. Zacks Investment Research lowered Scholastic from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 5th. Finally, BidaskClub raised Scholastic from a “sell” rating to a “hold” rating in a research note on Tuesday, April 3rd.

Shares of SCHL traded up $0.02 during trading hours on Friday, hitting $45.70. 210,163 shares of the company were exchanged, compared to its average volume of 106,032. The firm has a market cap of $1.59 billion, a PE ratio of 24.97 and a beta of 0.75. Scholastic has a one year low of $33.51 and a one year high of $46.59.

Scholastic (NASDAQ:SCHL) last released its quarterly earnings data on Wednesday, March 21st. The company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.05. The business had revenue of $344.70 million during the quarter, compared to analyst estimates of $350.10 million. Scholastic had a positive return on equity of 3.58% and a negative net margin of 1.00%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company posted ($0.36) EPS. equities research analysts expect that Scholastic will post 1.45 EPS for the current fiscal year.

Scholastic announced that its board has initiated a share buyback plan on Wednesday, March 21st that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

In other news, CEO Richard Robinson sold 1,500 shares of the stock in a transaction on Friday, April 20th. The stock was sold at an average price of $41.70, for a total value of $62,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Judith Newman sold 1,000 shares of the stock in a transaction on Thursday, April 12th. The shares were sold at an average price of $40.10, for a total value of $40,100.00. Following the completion of the sale, the executive vice president now owns 16,269 shares of the company’s stock, valued at approximately $652,386.90. The disclosure for this sale can be found here. Insiders sold 241,740 shares of company stock valued at $9,491,361 in the last 90 days. Corporate insiders own 22.30% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of Scholastic in the first quarter valued at $102,000. Allianz Asset Management GmbH purchased a new stake in shares of Scholastic in the first quarter valued at $210,000. Engineers Gate Manager LP purchased a new stake in shares of Scholastic in the first quarter valued at $214,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Scholastic in the fourth quarter valued at $333,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in shares of Scholastic in the first quarter valued at $335,000. Institutional investors own 82.23% of the company’s stock.

About Scholastic

Scholastic Corporation, together with its subsidiaries, publishes and distributes children's books worldwide. It operates through three segments: Children's Book Publishing and Distribution, Education, and International. The Children's Book Publishing and Distribution segment engages in the publication and distribution of children's books, e-books, media, and interactive products through its school book clubs and book fairs, and trade channel.

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