Scholastic shares are trading higher after the company reported better-than-expected Q4 adjusted EPS results and issued FY24 guidance. Also, the company approved a $100 million increase in its share repurchase authorization.
Portfolio Pulse from Benzinga Newsdesk
Scholastic Corporation reported better-than-expected Q4 adjusted EPS results and issued FY24 guidance. The company also approved a $100 million increase in its share repurchase authorization, leading to a rise in its share price.
July 21, 2023 | 3:14 pm
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Scholastic's better-than-expected Q4 results and increased share repurchase authorization could lead to a short-term positive impact on its stock price.
Scholastic's better-than-expected Q4 results indicate strong financial performance, which is a positive signal to investors. Additionally, the increase in share repurchase authorization shows the company's confidence in its own stock, which could further boost investor sentiment and drive the stock price up in the short term.
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IMPORTANCE 80
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