Scholastic Corp Stock Shoots Higher After Q4 Earnings: EPS Beat, Stock Buyback and More
Portfolio Pulse from Ryan Gustafson
Scholastic Corporation (NASDAQ:SCHL) reported Q4 earnings of $2.26 per share, beating the analyst consensus estimate of $1.70. However, its quarterly sales of $528.30 million fell short of the analyst consensus estimate of $541.76 million. The company's Board of Directors authorized an additional $100 million for repurchases of its common stock. Shares of SCHL were up 8.47% in the after-hours session.
July 20, 2023 | 9:21 pm
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POSITIVE IMPACT
Scholastic's Q4 earnings beat and stock buyback announcement could boost investor confidence, potentially driving the stock price up in the short term. However, the missed sales target might temper this positive impact.
Scholastic's Q4 earnings beat and the announcement of an additional $100 million for stock buybacks are positive news that could drive the stock price up. However, the company's missed sales target could be a concern for investors, potentially tempering the positive impact on the stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100