Media stories about Meredith (NYSE:MDP) have trended somewhat positive this week, according to Accern Sentiment Analysis. Accern identifies positive and negative media coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Meredith earned a daily sentiment score of 0.16 on Accern’s scale. Accern also assigned headlines about the company an impact score of 45.4187631718189 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
These are some of the headlines that may have impacted Accern Sentiment’s scoring:
- Apple acquiring Texture, the digital magazine subscription service (marketwatch.com)
- Apple buys all-you-can-read magazine app maker (bizjournals.com)
- ABC And PEOPLE Team Up For A Second Two-Night Television Event On The Royal Family (finance.yahoo.com)
- Meredith Co. (MDP) Given Consensus Recommendation of “Buy” by Brokerages (americanbankingnews.com)
Shares of Meredith (NYSE MDP) traded down $1.20 during mid-day trading on Wednesday, reaching $54.95. The company had a trading volume of 958,230 shares, compared to its average volume of 641,701. The company has a market cap of $2,594.57, a price-to-earnings ratio of 9.07, a P/E/G ratio of 1.56 and a beta of 1.32. Meredith has a twelve month low of $50.63 and a twelve month high of $72.25. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.15 and a quick ratio of 1.10.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be given a dividend of $0.545 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $2.18 dividend on an annualized basis and a yield of 3.97%. This is a positive change from Meredith’s previous quarterly dividend of $0.52. Meredith’s payout ratio is currently 36.09%.
Several equities analysts have recently issued reports on MDP shares. Zacks Investment Research upgraded Meredith from a “hold” rating to a “buy” rating and set a $76.00 price target on the stock in a research note on Thursday, December 28th. Wells Fargo & Co upgraded Meredith from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $54.00 to $76.00 in a research note on Monday, November 27th. Gabelli upgraded Meredith from a “hold” rating to a “buy” rating in a research note on Wednesday, January 31st. Citigroup lowered Meredith from a “buy” rating to a “neutral” rating in a research note on Friday, December 1st. Finally, ValuEngine lowered Meredith from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $73.00.
In related news, Director Donald C. Berg bought 3,500 shares of the business’s stock in a transaction on Monday, February 5th. The shares were purchased at an average cost of $57.50 per share, with a total value of $201,250.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Meredith D. Mell Frazier sold 22,176 shares of Meredith stock in a transaction dated 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 transaction, the director now directly owns 6,000 shares in the company, valued at $419,100. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by 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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