News coverage about Meredith (NYSE:MDP) has been trending somewhat positive this week, AlphaOne reports. The research firm, a service of Accern, identifies negative and positive press coverage by reviewing more than 20 million blog and news sources in real time. AlphaOne 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 media sentiment score of 0.06 on AlphaOne’s scale. AlphaOne also assigned news articles about the company an impact score of 84 out of 100, meaning that recent press coverage is very likely to have an effect on the company’s share price in the immediate future.
Meredith (NYSE:MDP) opened at 54.35 on Wednesday. Meredith has a 52 week low of $43.85 and a 52 week high of $66.25. The stock has a 50 day moving average of $59.56 and a 200 day moving average of $59.28. The stock has a market capitalization of $2.42 billion, a P/E ratio of 44.77 and a beta of 1.13.
Meredith (NYSE:MDP) last posted its quarterly earnings results on Thursday, April 27th. The company reported $0.87 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.87. Meredith had a return on equity of 19.39% and a net margin of 5.65%. The business had revenue of $425.40 million for the quarter, compared to analysts’ expectations of $422.61 million. During the same quarter in the prior year, the business earned $0.92 EPS. The firm’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities research analysts predict that Meredith will post $3.89 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Wednesday, May 31st will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend is Friday, May 26th. Meredith’s dividend payout ratio (DPR) is presently 94.74%.
Several research firms have recently issued reports on MDP. Jefferies Group LLC reissued a “hold” rating and issued a $57.00 price objective on shares of Meredith in a research report on Monday, April 24th. Benchmark Co. increased their price objective on shares of Meredith from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Thursday, March 23rd. Citigroup Inc raised shares of Meredith from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $58.00 to $65.00 in a research report on Tuesday, May 2nd. Finally, Wells Fargo & Co reissued a “hold” rating on shares of Meredith in a research report on Wednesday, January 25th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Meredith currently has an average rating of “Hold” and an average price target of $63.25.
In related news, insider John S. Zieser sold 1,742 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $57.77, for a total value of $100,635.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Steven M. Cappaert sold 2,195 shares of the stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $56.96, for a total value of $125,027.20. Following the completion of the sale, the insider now owns 6,542 shares in the company, valued at approximately $372,632.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,179 shares of company stock worth $527,227. 12.40% of the stock is owned by company insiders.
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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