Shares of Meredith Co. (NYSE:MDP) have been assigned an average rating of “Buy” from the eight research firms that are presently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $62.24.
Several equities research analysts have commented on the stock. Zacks Investment Research lowered shares of Meredith from a “hold” rating to a “sell” rating in a research note on Wednesday, February 6th. Benchmark reiterated a “buy” rating and issued a $70.00 price objective on shares of Meredith in a research note on Monday, December 17th. Gabelli assumed coverage on shares of Meredith in a research note on Thursday, February 14th. They issued a “buy” rating and a $54.97 price objective for the company. Finally, ValuEngine lowered shares of Meredith from a “buy” rating to a “hold” rating in a research note on Monday, April 1st.
Shares of MDP stock traded up $0.28 on Monday, reaching $60.44. 13,986 shares of the company were exchanged, compared to its average volume of 318,086. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.25 and a quick ratio of 1.19. Meredith has a one year low of $47.30 and a one year high of $62.40. The stock has a market capitalization of $2.67 billion, a PE ratio of 23.77 and a beta of 1.16.
Meredith (NYSE:MDP) last posted its earnings results on Monday, February 11th. The company reported $1.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.24. Meredith had a negative net margin of 1.89% and a positive return on equity of 16.96%. The company had revenue of $853.50 million for the quarter, compared to analyst estimates of $859.28 million. During the same quarter in the prior year, the business posted $1.14 EPS. The firm’s revenue was up 104.3% compared to the same quarter last year. On average, analysts anticipate that Meredith will post 3.95 earnings per share for the current fiscal year.
In other news, insider John S. Zieser sold 2,550 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $56.96, for a total transaction of $145,248.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.70% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in Meredith by 3.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 96,077 shares of the company’s stock worth $4,905,000 after buying an additional 3,015 shares during the period. Virtu Financial LLC bought a new position in Meredith in the 3rd quarter worth approximately $318,000. Tower Research Capital LLC TRC boosted its holdings in Meredith by 183.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,892 shares of the company’s stock worth $249,000 after buying an additional 3,168 shares during the period. Riverhead Capital Management LLC boosted its holdings in Meredith by 40.2% in the 3rd quarter. Riverhead Capital Management LLC now owns 7,670 shares of the company’s stock worth $391,000 after buying an additional 2,200 shares during the period. Finally, Pacer Advisors Inc. boosted its holdings in Meredith by 20.1% in the 3rd quarter. Pacer Advisors Inc. now owns 14,401 shares of the company’s stock worth $735,000 after buying an additional 2,415 shares during the period.
Meredith Corporation operates as a diversified media company in the United States, Europe, and Asia. It operates in two segments, National Media and Local Media. The National Media segment offers national consumer media brands through various media platforms, including print magazines, digital and mobile media, brand licensing activities, database-related activities, affinity marketing, and business-to-business marketing products and services.
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