News articles about Meredith Corporation (NYSE:MDP) have been trending positive recently, according to Accern. Accern identifies negative and positive news coverage by monitoring more than twenty 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 Corporation earned a media sentiment score of 0.34 on Accern’s scale. Accern also assigned news coverage about the company an impact score of 71 out of 100, indicating that recent news coverage is likely to have an impact on the company’s share price in the immediate future.
Here are some of the media stories that may have impacted Accern Sentiment’s rankings:
- Meredith Corporation (NYSE:MDP) Insider Sells $598,981.40 in Stock (americanbankingnews.com)
- Meredith Corporation (MDP) Stock Rating Upgraded by ValuEngine (americanbankingnews.com)
- Meredith Corp. breached its 50 day moving average in a Bearish Manner : MDP-US : August 4, 2017 (finance.yahoo.com)
- MDP Makes Notable Cross Below Critical Moving Average (nasdaq.com)
- Stephen M. Lacy Sells 10,339 Shares of Meredith Corporation (MDP) Stock (americanbankingnews.com)
Several equities analysts have commented on MDP shares. Jefferies Group LLC reissued a “hold” rating and issued a $57.00 price target on shares of Meredith Corporation in a research report on Monday, April 24th. Citigroup Inc. raised shares of Meredith Corporation from a “neutral” rating to a “buy” rating and raised their price target for the company from $58.00 to $65.00 in a research report on Tuesday, May 2nd. Zacks Investment Research cut shares of Meredith Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, May 25th. Benchmark Co. raised shares of Meredith Corporation from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research report on Monday, June 5th. Finally, ValuEngine cut shares of Meredith Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 7th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $63.50.
Shares of Meredith Corporation (NYSE MDP) opened at 58.00 on Wednesday. Meredith Corporation has a 52-week low of $43.85 and a 52-week high of $66.25. The stock’s 50 day moving average is $59.02 and its 200 day moving average is $59.95. The stock has a market capitalization of $2.59 billion, a PE ratio of 13.94 and a beta of 1.22.
Meredith Corporation (NYSE:MDP) last posted its quarterly earnings data on Thursday, July 27th. The company reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.11. Meredith Corporation had a net margin of 11.03% and a return on equity of 18.98%. The firm had revenue of $445.40 million for the quarter, compared to the consensus estimate of $439.61 million. During the same period in the prior year, the firm posted $1.08 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. Equities research analysts expect that Meredith Corporation will post $3.38 earnings per share for the current fiscal year.
In other Meredith Corporation news, insider Thomas H. Harty sold 20,028 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $60.46, for a total transaction of $1,210,892.88. Following the transaction, the insider now directly owns 44,445 shares in the company, valued at approximately $2,687,144.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Stephen M. Lacy sold 10,268 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $60.92, for a total transaction of $625,526.56. Following the transaction, the chief executive officer now owns 9,345 shares in the company, valued at $569,297.40. The disclosure for this sale can be found here. Insiders have sold a total of 50,998 shares of company stock worth $3,065,149 over the last quarter. 12.40% of the stock is currently owned by insiders.
Meredith Corporation 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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