Scholastic (NASDAQ:SCHL) Reaches New 1-Year Low on Disappointing Earnings

Shares of Scholastic Co. (NASDAQ:SCHL - Get Free Report) reached 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 trading hands. The stock had previously closed at $24.84.

The company reported $1.82 earnings per share for the quarter, missing analysts' consensus estimates of $2.30 by ($0.48). Scholastic had a return on equity of 4.32% and a net margin of 1.49%.

Scholastic Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Friday, January 31st will be issued 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 (DPR) is presently 142.86%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Scholastic from a "buy" rating to a "hold" rating in a research note on Saturday, October 5th.

Institutional Investors Weigh In On Scholastic

A number of hedge funds have recently bought and sold shares of SCHL. Renaissance Technologies LLC acquired a new position in shares of Scholastic during the 2nd quarter worth about $1,936,000. Acadian Asset Management LLC acquired a new position in shares of Scholastic during the second quarter worth approximately $1,295,000. Charles Schwab Investment Management Inc. boosted its position in shares of Scholastic by 9.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 502,179 shares of the company's stock valued at $16,075,000 after acquiring an additional 41,864 shares during the period. Martingale Asset Management L P boosted its position in shares of Scholastic by 128.1% in the third quarter. Martingale Asset Management L P now owns 49,529 shares of the company's stock valued at $1,585,000 after acquiring an additional 27,812 shares during the period. Finally, Intech Investment Management LLC grew its stake in shares of Scholastic by 127.8% in the third quarter. Intech Investment Management LLC now owns 33,747 shares of the company's stock worth $1,080,000 after acquiring an additional 18,933 shares during the last quarter. 82.57% of the stock is currently owned by institutional investors.

Scholastic Price Performance

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 stock's 50-day moving average is $25.75 and its 200-day moving average is $29.94. The firm has a market cap of $557.39 million, a P/E ratio of 35.38 and a beta of 1.07.

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.