Scholastic (NASDAQ:SCHL) Shares Gap Up Following Strong Earnings

Scholastic Co. (NASDAQ:SCHL - Get Free Report) shares gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $18.80, but opened at $19.98. Scholastic shares last traded at $21.10, with a volume of 188,342 shares.

The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.78) by $0.73. Scholastic had a positive return on equity of 1.91% and a negative net margin of 0.27%. The company had revenue of $335.40 million for the quarter, compared to analyst estimates of $347.68 million.

Scholastic Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Wednesday, April 30th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.12%. The ex-dividend date is Wednesday, April 30th. Scholastic's dividend payout ratio (DPR) is presently 133.33%.

Institutional Investors Weigh In On Scholastic

Institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC purchased a new stake in Scholastic during the fourth quarter worth approximately $33,000. KBC Group NV raised its holdings in Scholastic by 125.4% during the fourth quarter. KBC Group NV now owns 2,443 shares of the company's stock worth $52,000 after purchasing an additional 1,359 shares in the last quarter. FMR LLC lifted its position 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 buying an additional 869 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Scholastic in the 4th quarter valued at $96,000. Finally, Sterling Capital Management LLC grew its position in shares of Scholastic by 7.5% in the 4th quarter. Sterling Capital Management LLC now owns 9,444 shares of the company's stock valued at $201,000 after buying an additional 662 shares during the last quarter. 82.57% of the stock is owned by hedge funds and other institutional investors.

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Scholastic Price Performance

The stock has a market capitalization of $545.72 million, a price-to-earnings ratio of -107.88 and a beta of 1.10. The company has a current ratio of 1.24, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25. The company's 50 day moving average is $20.09 and its 200 day moving average is $23.96.

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.