A number of other equities research analysts have also recently commented on the company. Zacks Investment Research upgraded Meredith from a “sell” rating to a “hold” rating in a research note on Tuesday, February 26th. Gabelli began coverage on Meredith in a research note on Thursday, February 14th. They issued a “buy” rating and a $54.97 price target for the company. Finally, Benchmark reiterated a “buy” rating and issued a $70.00 price target on shares of Meredith in a research note on Tuesday, February 12th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Meredith has an average rating of “Buy” and an average price target of $61.39.
Shares of NYSE MDP traded up $0.28 during mid-day trading on Monday, reaching $60.44. 208,699 shares of the company were exchanged, compared to its average volume of 367,144. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.25 and a quick ratio of 1.19. The stock has a market capitalization of $2.67 billion, a P/E ratio of 23.80 and a beta of 1.16. Meredith has a 1 year low of $47.30 and a 1 year high of $62.40.
Meredith (NYSE:MDP) last issued its quarterly earnings data on Monday, February 11th. The company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.24. The firm had revenue of $853.50 million during the quarter, compared to analysts’ expectations of $859.28 million. Meredith had a positive return on equity of 16.96% and a negative net margin of 1.89%. The firm’s quarterly revenue was up 104.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.14 EPS. As a group, equities research analysts anticipate that Meredith will post 3.95 earnings per share for the current fiscal year.
In other Meredith news, insider John S. Zieser sold 2,550 shares of the stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $56.96, for a total value of $145,248.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.70% of the company’s stock.
Large investors have recently made changes to their positions in the company. Teton Advisors Inc. raised its stake in shares of Meredith by 22.7% in the fourth quarter. Teton Advisors Inc. now owns 33,000 shares of the company’s stock worth $1,714,000 after purchasing an additional 6,100 shares during the last quarter. Riverhead Capital Management LLC raised its stake in shares of Meredith by 40.2% in the third quarter. Riverhead Capital Management LLC now owns 7,670 shares of the company’s stock worth $391,000 after purchasing an additional 2,200 shares during the last quarter. Affinity Investment Advisors LLC raised its stake in shares of Meredith by 8.6% in the fourth quarter. Affinity Investment Advisors LLC now owns 10,396 shares of the company’s stock worth $540,000 after purchasing an additional 823 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Meredith by 67.1% in the third quarter. Mackenzie Financial Corp now owns 63,322 shares of the company’s stock worth $3,233,000 after purchasing an additional 25,432 shares during the last quarter. Finally, AMG National Trust Bank raised its stake in shares of Meredith by 1,397.3% in the fourth quarter. AMG National Trust Bank now owns 62,677 shares of the company’s stock worth $3,255,000 after purchasing an additional 58,491 shares during the last quarter.
Meredith Company Profile
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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