Jefferies Group Comments on Meredith Co.’s FY2017 Earnings (MDP)

Meredith Co. (NYSE:MDP) – Jefferies Group raised their FY2017 earnings estimates for shares of Meredith in a research report issued to clients and investors on Tuesday, Zacks Investment Research reports. Jefferies Group analyst J. Janedis now expects that the company will post earnings of $3.87 per share for the year, up from their previous forecast of $3.79. Jefferies Group has a “Hold” rating and a $57.00 price objective on the stock. Jefferies Group also issued estimates for Meredith’s FY2018 earnings at $3.34 EPS and FY2019 earnings at $3.69 EPS.

MDP has been the topic of a number of other reports. Wells Fargo & Co reissued a “hold” rating on shares of Meredith in a report on Wednesday, January 25th. Zacks Investment Research raised Meredith from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a report on Tuesday, December 27th. Finally, Benchmark Co. lowered Meredith from a “buy” rating to a “hold” rating and set a $64.00 target price on the stock. in a report on Thursday, January 26th. They noted that the move was a valuation call.

Earnings History and Estimates for Meredith (NYSE:MDP)

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Meredith (NYSE:MDP) traded down 0.85% during trading on Thursday, reaching $64.20. The company had a trading volume of 425,082 shares. Meredith has a 52-week low of $43.85 and a 52-week high of $66.25. The company has a 50 day moving average price of $63.39 and a 200 day moving average price of $57.60. The company has a market capitalization of $2.86 billion, a PE ratio of 30.27 and a beta of 1.13.

Meredith (NYSE:MDP) last released its quarterly earnings data on Wednesday, January 25th. The company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.10. Meredith had a return on equity of 19.39% and a net margin of 5.65%. The firm had revenue of $442.60 million for the quarter, compared to the consensus estimate of $435.22 million. During the same quarter in the prior year, the company posted $0.80 earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tyers Asset Management LLC purchased a new position in shares of Meredith during the fourth quarter worth approximately $104,000. Bank of Montreal Can raised its position in shares of Meredith by 16.1% in the first quarter. Bank of Montreal Can now owns 1,739 shares of the company’s stock worth $113,000 after buying an additional 241 shares in the last quarter. LS Investment Advisors LLC raised its position in shares of Meredith by 4.7% in the third quarter. LS Investment Advisors LLC now owns 2,427 shares of the company’s stock worth $126,000 after buying an additional 108 shares in the last quarter. Flinton Capital Management LLC purchased a new position in shares of Meredith during the fourth quarter worth approximately $127,000. Finally, Credit Agricole S A purchased a new position in shares of Meredith during the fourth quarter worth approximately $155,000. 84.01% of the stock is currently owned by hedge funds and other institutional investors.

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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