Scholastic shares fall after 2019 revenue forecast cut

Scholastic

31/05/2019 18:22

** Shares of U.S. Harry Potter publisher  SCHL.O  fall 9.8%
to $32.96 - trading at their lowest in over 3 years
    ** Co cuts fiscal 2019 revenue forecast to $1.64 bln from
$1.65 bln-$1.70 bln estimated earlier
    ** Expects adj. EPS in the range of 83 cents-$1.03 vs prior
forecast of $1.60-$1.70  urn:newsml:reuters.com:*:nPn7Cv80Na
    ** Says forecast cut primarily due to certain factors
affecting its children's book publishing and distribution
segment in Q4 ending May 31
    ** Including Friday's losses, stock down ~18% this year

 (Reporting by Debroop Roy in Bengaluru)
 ((Reuters Messaging:
debroop.roy.thomsonreuters.com@reuters.net))