Chief Executive Officer of Pearson PLC (ADR) (NYSE:PSO) Marjorie Scardino will depart after 16 years and be substituted by international education business chief, encouraging rumors that the corporation may sell the Financial Times newspaper.
The London-based Pearson reported in a statement on Wednesday that John Fallon would substitute Scardino, who took over as chief executive in January 1997, starting January 2013.
Marjorie Scardino was the first female Chief Executive Officer of Pearson and during her tenure sales of the company surged around three folds.
Liberum Capital Ltd. analyst Ian Whittaker stated that her departure raises questions regarding selling of the Financial Times Group, which owns the newspaper and a 50% stake in The Economist.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Reed Elsevier NV (ADR) (NYSE:ENL) fell -0.04% to settle at $27.15, The New York Times Company (NYSE:NYT) moved down -0.62% to end at $9.67 while Reed Elsevier plc (ADR) (NYSE:RUK) plunged -0.10% to finish at $38.70 on Wednesday.
Pearson PLC (ADR) (NYSE:PSO)’s last session’s volume of 144,973 shares was lower than its average volume of 145,334 shares. The stock after opening at $19.86 hit high price of $19.88 and then closed at $19.70 by scoring -1.01%.
PSO generated revenue of $9.75 billion in the previous twelve months and earned $1.52 billion. The Company showed a positive 15.57% in the net profit margin as well as in its operating margin which remained at 19.41%. Company’s annual sales growth for the past five years was 8.00%.
The PSO’s past twelve months’ price to sales ratio was 1.65 and price to cash ratio remained 9.86. As far as the returns are concerned, PSO’s return on equity was recorded as 17.14% and return on investment increased 11.07% while its return on asset stayed at 9.07%.
The stock showed weekly downbeat performance of -0.10% which was maintained for the month at 4.18%. Likewise the positive performance for the quarter was recorded as 2.18% and for the year was 14.80% while the YTD performance remained at 8.24%.
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