Meredith Co. (MDP) to Post Q3 2017 Earnings of $0.87 Per Share, Jefferies Group Forecasts

Meredith Co. (NYSE:MDP) – Analysts at Jefferies Group upped their Q3 2017 EPS estimates for Meredith in a research note issued on Tuesday, according to Zacks Investment Research. Jefferies Group analyst J. Janedis now anticipates that the company will post earnings per share of $0.87 for the quarter, up from their prior forecast of $0.79. Jefferies Group has a “Hold” rating and a $57.00 price objective on the stock. Jefferies Group also issued estimates for Meredith’s Q3 2018 earnings at $0.87 EPS.

Other analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Meredith from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Tuesday, December 27th. Benchmark Co. upped their target price on shares of Meredith from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Thursday, March 23rd. Finally, Wells Fargo & Co reissued a “hold” rating on shares of Meredith in a report on Wednesday, January 25th.

Earnings History and Estimates for Meredith (NYSE:MDP)

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Shares of Meredith (NYSE:MDP) traded down 0.85% during midday trading on Friday, reaching $64.20. 422,361 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $63.39 and a 200-day moving average price of $57.60. Meredith has a 52-week low of $43.85 and a 52-week high of $66.25. The stock has a market cap of $2.86 billion, a P/E ratio of 30.27 and a beta of 1.13.

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

Several institutional investors have recently modified their holdings of the company. James Investment Research Inc. acquired a new stake in Meredith during the first quarter valued at approximately $2,162,000. Louisiana State Employees Retirement System increased its stake in Meredith by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 9,200 shares of the company’s stock valued at $594,000 after buying an additional 200 shares during the period. Iowa State Bank increased its stake in Meredith by 41.9% in the first quarter. Iowa State Bank now owns 16,225 shares of the company’s stock valued at $1,048,000 after buying an additional 4,789 shares during the period. Fox Run Management L.L.C. acquired a new stake in Meredith during the first quarter valued at approximately $711,000. Finally, Alpha Windward LLC acquired a new stake in Meredith during the first quarter valued at approximately $488,000. 84.01% of the stock is currently owned by 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.

5 Day Chart for NYSE:MDP

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