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NEW YORK (TheStreet) -- Shares of Scholastic (SCHL) - Get Scholastic Corporation Report are down by 2.13% to $41.80 at the start of trading on Thursday morning, following the release of the company's first quarter earnings results.

The  New York City-based children's book publisher reported a first quarter net loss of $49.4 million, or loss of $1.42 per share on revenue that rose 0.4% year over year to $191.2 million.

Analysts on average were expecting the "Harry Potter" book series publisher to lose $1.51 per share on revenue of $187.3 million.

The company reaffirmed its full year earnings guidance between $1.35 per share and $1.55 per share versus analysts' $1.49 per share expectations. 

Separately, TheStreet Ratings team rates SCHOLASTIC CORP as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

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TheStreet Recommends

"We rate SCHOLASTIC CORP (SCHL) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and solid stock price performance. We feel its strengths outweigh the fact that the company has had somewhat disappointing return on equity."

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