Analysts Set Meredith Co. (MDP) PT at $75.33

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Shares of Meredith Co. (NYSE:MDP) have received an average recommendation of “Hold” from the ten brokerages that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $75.33.

Several research firms have issued reports on MDP. Zacks Investment Research lowered Meredith from a “hold” rating to a “sell” rating in a research note on Monday. Benchmark reiterated a “buy” rating and set a $70.00 price objective on shares of Meredith in a research note on Tuesday, June 12th. TheStreet lowered Meredith from a “b” rating to a “c+” rating in a research note on Thursday, May 10th. Citigroup upgraded Meredith from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 30th. Finally, ValuEngine lowered Meredith from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd.

In other news, Director Donald C. Berg purchased 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 29th. The shares were acquired at an average price of $48.20 per share, for a total transaction of $192,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.00% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Suntrust Banks Inc. boosted its holdings in Meredith by 1,587.2% in the first quarter. Suntrust Banks Inc. now owns 137,190 shares of the company’s stock valued at $7,379,000 after acquiring an additional 129,059 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Meredith by 2.4% during the 1st quarter. Principal Financial Group Inc. now owns 191,704 shares of the company’s stock valued at $10,313,000 after purchasing an additional 4,457 shares in the last quarter. WINTON GROUP Ltd bought a new position in shares of Meredith during the 1st quarter valued at about $320,000. CIBC World Markets Inc. bought a new position in shares of Meredith during the 1st quarter valued at about $696,000. Finally, Xact Kapitalforvaltning AB lifted its holdings in shares of Meredith by 54.9% during the 1st quarter. Xact Kapitalforvaltning AB now owns 5,923 shares of the company’s stock valued at $319,000 after purchasing an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 95.24% of the company’s stock.

Meredith stock traded up $0.15 during mid-day trading on Tuesday, hitting $52.25. 10,131 shares of the company were exchanged, compared to its average volume of 519,383. The company has a debt-to-equity ratio of 2.75, a current ratio of 1.71 and a quick ratio of 1.67. Meredith has a 1-year low of $47.30 and a 1-year high of $72.25. The firm has a market capitalization of $2.38 billion, a P/E ratio of 13.18, a P/E/G ratio of 1.21 and a beta of 1.40.

Meredith (NYSE:MDP) last released its quarterly earnings data on Thursday, May 10th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.33. Meredith had a return on equity of 15.46% and a net margin of 6.62%. The firm had revenue of $648.80 million during the quarter, compared to analyst estimates of $752.28 million. During the same period in the prior year, the company posted $0.87 earnings per share. The business’s revenue for the quarter was up 52.5% compared to the same quarter last year. equities research analysts predict that Meredith will post 3.99 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Thursday, May 31st were paid a $0.545 dividend. The ex-dividend date was Wednesday, May 30th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 4.17%. Meredith’s dividend payout ratio (DPR) is presently 54.50%.

About Meredith

Meredith Corporation operates as a diversified media company in the United States. It operates in two segments, Local Media and National Media. The Local Media segment operates television stations, such as 7 CBS affiliates, 5 FOX affiliates, 2 MyNetworkTV affiliates, 1 NBC affiliate, 1 ABC affiliate, and 2 independent stations.

Analyst Recommendations for Meredith (NYSE:MDP)

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