Shaun Currie, CFA • 13 Comments
Brian Grosso • 23 Comments
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, 9:16 AM
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.
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.
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).
Jul. 5, 2013, 5:30 PM
Jun. 28, 2013, 3:25 PM
It's a pretty good day to be long shoe stocks after reports from Nike (NKE +2.4%) and Finish Line (FINL +4.2%) set the tone early and analysts jump on the bandwagon with positive comments on the sector: Advancers: Foot Locker (FL) +2.9%, Deckers Outdoor (DECK) +3.0%, Wolverine Worldwide (WWW) +2.2%, Crocs (CROX) +2.2%, Shoe Carnival (SCHL) +1.3%, Brown Shoe (BWS) +1.6%.| Jun. 28, 2013, 3:25 PM | 2 Comments
Mar. 21, 2013, 12:57 PM
Mar. 21, 2013, 9:10 AM
Nov. 21, 2012, 12:45 PM
Nov. 21, 2012, 9:10 AM
Nov. 20, 2012, 6:35 PM
Nov. 20, 2012, 6:22 PM
Shares of Scholastic (SCHL) are currently halted in post-session trading after it lowers its FY13 EPS view to $1.40-$1.60 from $2.20-$2.40 and its revenue view to between $1.8B - $1.9B from $1.9B-$2.0B, which are both below consensus expectations of $2.27 per share on revenue of $1.94B respectively. The company attributes the lowered guidance to weak curriculum product sales in its Educational Technology and Services segment due to school budget constraints.| Nov. 20, 2012, 6:22 PM
Jul. 19, 2012, 8:09 AM
More on Scholastic (SCHL): Strong sales in children books, particularly The Hunger Games trilogy, led revenue gains again. For FY13, the company expects revenue of $1.9B-$2.0B and EPS of $2.20-$2.40. Shares +4.5% premarket. (PR)| Jul. 19, 2012, 8:09 AM
Jul. 19, 2012, 7:44 AMScholastic (SCHL): FQ4 EPS of $1.80 may not be comparable to consensus of $1.57. Revenue of $678.5M (+24.4% Y/Y) beats by $37M. Shares +4.5% premarket. (PR) | Jul. 19, 2012, 7:44 AM