It Seems Scholastic Corporation (SCHL) Will Go Down. Formed A Few Months Bearish Double Bottom Chart Pattern

March 17, 2018 - By Rodney Autry

Investors sentiment increased to 1.82 in Q3 2017. Its up 0.17, from 1.65 in 2017Q2. It increased, as 11 investors sold Scholastic Corporation shares while 34 reduced holdings. 20 funds opened positions while 62 raised stakes. 27.44 million shares or 0.63% less from 27.61 million shares in 2017Q2 were reported.
196,461 were reported by Jpmorgan Chase &. Acadian Asset Ltd invested in 479,303 shares. Tower Rech Cap Llc (Trc) owns 2,985 shares. The Switzerland-based Swiss National Bank & Trust has invested 0% in Scholastic Corporation (NASDAQ:SCHL). 8,661 are held by Sei Invests. 11 were accumulated by Thompson Siegel Walmsley Ltd Com. D E Shaw & reported 21,132 shares. Moreover, Teachers Retirement System Of The State Of Kentucky has 0% invested in Scholastic Corporation (NASDAQ:SCHL) for 9,100 shares. 18,122 are held by Bnp Paribas Arbitrage. Comerica Financial Bank owns 29,288 shares. Arizona State Retirement holds 0.01% of its portfolio in Scholastic Corporation (NASDAQ:SCHL) for 14,462 shares. Price T Rowe Assocs Md invested 0.01% of its portfolio in Scholastic Corporation (NASDAQ:SCHL). Gamco Invsts Et Al holds 6,592 shares. Sentry Investments Corporation stated it has 118,800 shares or 0.04% of all its holdings. Suntrust Banks holds 26,996 shares or 0.01% of its portfolio.

Since December 18, 2017, it had 0 buys, and 2 sales for $239,550 activity. $98,395 worth of stock was sold by NEWMAN JUDITH on Tuesday, January 16.

The chart of Scholastic Corporation (SCHL) shows a double bottom with $35.33 target or 6.00 % below today’s $37.58 share price. The 7 months chart pattern indicates high risk for the $1.31 billion company. It was reported on Mar, 17 by If the $35.33 price target is reached, the company will be worth $78.66M less. Double bottoms are rare but powerful chart patterns.

The stock increased 0.08% or $0.03 during the last trading session, reaching $37.58. About 260,038 shares traded or 103.95% up from the average. Scholastic Corporation (NASDAQ:SCHL) has risen 15.83% since March 17, 2017 and is uptrending. It has underperformed by 0.87% the S&P500.

Analysts await Scholastic Corporation (NASDAQ:SCHL) to report earnings on March, 22. They expect $-0.35 EPS, up 2.78 % or $0.01 from last year’s $-0.36 per share. After $1.92 actual EPS reported by Scholastic Corporation for the previous quarter, Wall Street now forecasts -118.23 % negative EPS growth.

Scholastic Corporation (NASDAQ:SCHL) Ratings Coverage

Among 2 analysts covering Scholastic Corporation (NASDAQ:SCHL), 1 have Buy rating, 0 Sell and 1 Hold. Therefore 50% are positive. Scholastic Corporation had 4 analyst reports since October 13, 2015 according to SRatingsIntel. The firm has “Hold” rating by Stifel Nicolaus given on Friday, September 22. Oppenheimer initiated the shares of SCHL in report on Tuesday, October 13 with “Outperform” rating. The rating was maintained by Stifel Nicolaus on Monday, July 10 with “Hold”. Stifel Nicolaus maintained the stock with “Hold” rating in Monday, August 14 report.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.