Scholastic (NASDAQ:SCHL) Reaches New 52-Week Low – Should You Sell?

Scholastic Co. (NASDAQ:SCHL) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $24.47 and last traded at $24.64, with a volume of 159314 shares. The stock had previously closed at $24.83.

Wall Street Analyst Weigh In

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

Scholastic Stock 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 has a market capitalization of $693.37 million, a PE ratio of 44.00 and a beta of 1.06. The firm has a 50 day moving average price of $28.82 and a 200-day moving average price of $32.39.

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

Scholastic Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.25%. The ex-dividend date is Thursday, October 31st. Scholastic’s dividend payout ratio is currently 142.86%.

Hedge Funds Weigh In On Scholastic

Several institutional investors and hedge funds have recently modified their holdings of SCHL. Inspire Investing LLC raised its position in Scholastic by 6.4% during the second quarter. Inspire Investing LLC now owns 11,222 shares of the company’s stock valued at $398,000 after acquiring an additional 675 shares in the last quarter. Creative Planning lifted its stake in shares of Scholastic by 4.4% in the 3rd quarter. Creative Planning now owns 16,135 shares of the company’s stock valued at $516,000 after purchasing an additional 679 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Scholastic by 13.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,776 shares of the company’s stock worth $218,000 after buying an additional 697 shares in the last quarter. Bessemer Group Inc. grew its position in Scholastic by 11.4% during the first quarter. Bessemer Group Inc. now owns 7,455 shares of the company’s stock valued at $281,000 after buying an additional 762 shares during the period. Finally, nVerses Capital LLC purchased a new position in Scholastic in the second quarter valued at $35,000. Institutional investors and hedge funds own 82.57% of the company’s stock.

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.