News headlines about Meredith (NYSE:MDP) have trended somewhat positive on Monday, according to Accern. Accern scores the sentiment of press coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Meredith earned a coverage optimism score of 0.05 on Accern’s scale. Accern also assigned media coverage about the company an impact score of 46.9885532025148 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
These are some of the news headlines that may have impacted Accern’s scoring:
- Fortune Brainstorm Design 2018 Coverage Guide (finance.yahoo.com)
- The Osso Good Company Unveils New Line of Bone Broth Soup’r Foods (markets.financialcontent.com)
- ‘It’s Not Just About Beautiful Objects.’ How Design Helps Business (finance.yahoo.com)
- Outdoor Structures Add Character and Value to any Setting (prweb.com)
- Meredith Co. (MDP) Position Raised by California Public Employees Retirement System (americanbankingnews.com)
MDP has been the topic of several research analyst reports. Zacks Investment Research raised Meredith from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a research note on Thursday, December 28th. JMP Securities began coverage on Meredith in a research note on Monday, November 13th. They issued a “market perform” rating on the stock. Wells Fargo & Co raised Meredith from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $54.00 to $76.00 in a research note on Monday, November 27th. Gabelli raised Meredith from a “hold” rating to a “buy” rating in a research note on Wednesday, January 31st. Finally, Citigroup cut Meredith from a “buy” rating to a “neutral” rating in a research note on Friday, December 1st. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $73.00.
Meredith (NYSE:MDP) last issued its quarterly earnings results on Wednesday, January 31st. The company reported $1.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.25. The company had revenue of $417.70 million for the quarter, compared to analysts’ expectations of $414.97 million. Meredith had a return on equity of 9.79% and a net margin of 6.30%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.30 earnings per share. analysts predict that Meredith will post 4.65 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be paid a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 3.81%. This is a boost from Meredith’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Tuesday, February 27th. Meredith’s dividend payout ratio is presently 36.09%.
In other Meredith news, Director Meredith D. Mell Frazier sold 22,176 shares of the business’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $69.85, for a total value of $1,548,993.60. Following the sale, the director now directly owns 6,000 shares of the company’s stock, valued at $419,100. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Donald C. Berg bought 3,500 shares of the company’s stock in a transaction on Monday, February 5th. The stock was bought at an average cost of $57.50 per share, for a total transaction of $201,250.00. The disclosure for this purchase can be found here. 4.00% of the stock is owned by corporate insiders.
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Meredith Company Profile
Meredith Corporation is a diversified media company. The Company is focused primarily on the home and family marketplace. The Company operates through two segments: Local Media and National Media. As of June 30, 2016, the Company’s Local Media segment includes 16 owned television stations, one managed television station and related digital and mobile media operations.
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