Scholastic Corporation
 (SCHL)

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  • Mon, Jan. 25, 6:54 PM
    • Scholastic (SCHL -0.9%) has responded to claims of self-censorship with a statement saying that it withdrew a book because it didn't meet its standards.
    • PEN and the National Coalition Against Censorship issued a Friday statement that said Scholastic's decision to stop distributing A Birthday Cake for George Washington was a "shocking and unprecedented case of self-censorship."
    • Scholastic acknowledged that it reads critical comments but that the book couldn't appropriately present complex subject matter in a picture book targeted to young children.
    • The company said "We believe that, without more historical background on the evils of slavery than this book for younger children can provide, the book may give a false impression of the reality of the lives of enslaved people and therefore should be withdrawn."
    • Scholastic said it owed an apology to the author, illustrator and editor for not taking action before the book was published, but "we believe we are correct" in withdrawing it from circulation now.
    | Mon, Jan. 25, 6:54 PM | 2 Comments
  • Thu, Jan. 21, 12:45 PM
    | Thu, Jan. 21, 12:45 PM
  • Thu, Jan. 21, 9:26 AM
    • Scholastic (NASDAQ:SCHL) has sunk 14.9% premarket as it says it's terminated its modified Dutch Auction tender offer, in which it was to purchase up to $200M of common stock, and won't purchase any shares.
    • The company had declared the offer on Dec. 28 and it was set to expire Jan. 26. Shareholders were invited to tender shares in a price range of $37-$40 per share, and the company would buy up to 5,405,405 shares for cash.
    • A triggering condition occurred allowing Scholastic to end the offer when the Nasdaq fell more than 10% from its Dec. 28 close.
    • All shares previously tendered will be returned to the tendering holders.
    • Following yesterday's close at $37.61, shares are trading at $32 premarket.
    | Thu, Jan. 21, 9:26 AM
  • Thu, Jan. 21, 9:16 AM
    | Thu, Jan. 21, 9:16 AM | 1 Comment
  • Dec. 21, 2015, 3:03 PM
    • Scholastic (SCHL -0.2%) has set terms for a $200M Dutch auction tender where it will buy back shares.
    • Holders of Scholastic common stock will be able to tender some or all of their shares in a range of $37-$40/share. With tenders in hand, the company can determine the lowest price per share in that range that will allow it to buy $200M worth.
    • All shares will then be paid that same price even if shareholders tendered at a lower price.
    • Shares are down slightly today, to $37.62; the high end of the tender range marks a 6.3% premium.
    • At $37/share, the company would buy back a maximum of just over 5.405M shares (16.5% of outstanding common stock); at the maximum $40/share, the company would buy back 5M shares (15.3%).
    | Dec. 21, 2015, 3:03 PM
  • Dec. 17, 2015, 9:34 AM
    • Scholastic (NASDAQ:SCHL) is down 4.3% after missing on its fiscal Q2 earnings on top and bottom lines and lowering forecasts for the full year.
    • Foreign exchange drove a revenue decline -- revenues were up 1.3% in constant currency -- and profits fell 14.5%.
    • Revenue by segment: Children's Book Publishing and Distribution, $414M (up 1%); Education, $72.1M (up 3%); International, $115.7M (down 13%).
    • Free cash flow was $101.8M vs. a year-ago $125.7M; cash and equivalents came to $348.9M vs. a year-ago net debt of $61.3M (mainly due to selling its EdTech business).
    • The company dimmed guidance slightly for fiscal 2016 revenue (to $1.65B from $1.7B) and EPS from continuing operations (to $1.35, from a range of $1.35-$1.55). It still expects free cash flow of $35M-$45M.
    • It also plans to return $200M to shareholders through a modified Dutch auction tender, as well as converting space at its Broadway headquarters in New York to get more retail rental revenue.
    • Press Release
    | Dec. 17, 2015, 9:34 AM
  • Dec. 17, 2015, 7:03 AM
    • Scholastic (NASDAQ:SCHL): FQ2 EPS of $1.89 misses by $0.21.
    • Revenue of $601.8M (-1.5% Y/Y) misses by $5.55M.
    • Press Release
    | Dec. 17, 2015, 7:03 AM
  • Dec. 16, 2015, 5:30 PM
  • Dec. 16, 2015, 11:42 AM
    • Scholastic (NASDAQ:SCHL) declares $0.15/share quarterly dividend, in line with previous.
    • Forward yield 1.47%
    • Payable March 15; for shareholders of record Jan. 29; ex-div Jan. 27.
    | Dec. 16, 2015, 11:42 AM
  • Oct. 13, 2015, 4:07 PM
    • Scholastic (NASDAQ:SCHL) finished up 3.6% today, following an Oppenheimer launch at Outperform as a "catalyst-rich investment opportunity."
    • It has a $50 price target; Scholastic shares just closed at $40.82, implying 22.5% upside from here.
    • Scholastic gets a stable revenue stream from one of the strongest markets left in print -- school books -- and the company has about a 10% unlevered free cash flow yield estimated for fiscal 2017, with a mid-single-digit revenue growth profile, Oppenheimer says.
    • What's more, the company could sell three stories of its Broadway headquarters in New York City for more than $350M -- almost $250M after taxes, or $7.31/share. All in all, Oppenheimer thinks between the real estate monetization, free cash flow and cash on hand (about $8/share), Scholastic could return $400M in cash (about 30% of market cap) over the next 12 months.
    | Oct. 13, 2015, 4:07 PM
  • Sep. 24, 2015, 10:28 AM
    • Scholastic (NASDAQ:SCHL) is off 1.4% after recording a wider loss in its fiscal Q1 results despite beating expectations.
    • Gains in the company's slow (non-school-year) quarter came from classroom books, branded libraries and summer reading programs, and higher custom and digital sales in the consumer magazine channel. Revenues from continuing business (excluding the now-sold EdTech business) were up 0.4%. International sales declined under foreign exchange pressure.
    • Revenues by segment: Children's book publishing, $68.1M (up 15%); Education, $50M (up 7%); International, $73.1M (down 14%).
    • Free cash use of $303.2M, up from the prior year's $76.9M mainly on taxes due tied to the sale of the EdTech business.
    • The company affirmed its full-year outlook of $1.7B in revenue (vs. an expected $1.65B) and EPS of $1.35-$1.55 (vs. an expected $1.50).
    | Sep. 24, 2015, 10:28 AM
  • Sep. 24, 2015, 7:03 AM
    • Scholastic (NASDAQ:SCHL): FQ1 EPS of -$1.42 beats by $0.09.
    • Revenue of $191.2M (-32.6% Y/Y) beats by $0.7M.
    | Sep. 24, 2015, 7:03 AM
  • Sep. 23, 2015, 5:30 PM
  • Sep. 22, 2015, 12:16 PM
    • Scholastic (NASDAQ:SCHL) declares $0.15/share quarterly dividend, in line with previous.
    • Forward yield 1.4%
    • Payable Dec. 15; for shareholders of record Oct. 30; ex-div Oct. 28.
    | Sep. 22, 2015, 12:16 PM
  • Jul. 23, 2015, 7:09 AM
    • Scholastic (NASDAQ:SCHL): FQ4 EPS of $0.93 misses by $0.17.
    • Revenue of $489M (+0.3% Y/Y) misses by $62.2M.
    | Jul. 23, 2015, 7:09 AM
  • Jul. 22, 2015, 11:35 AM
    • Scholastic (NASDAQ:SCHL) declares $0.15/share quarterly dividend, in line with previous.
    • Forward yield 1.37%
    • Payable Sept. 15; for shareholders of record Aug. 31; ex-div Aug. 27.
    | Jul. 22, 2015, 11:35 AM
Company Description
Scholastic Corp is a children's publishing, education and media company. The Company also provides educational technology products, related services and children's media.
Sector: Services
Country: United States