Meredith (MDP) Rating Lowered to Hold at ValuEngine

ValuEngine lowered shares of Meredith (NYSE:MDP) from a buy rating to a hold rating in a report released on Monday, April 1st, ValuEngine reports.

Several other research analysts also recently commented on MDP. Wolfe Research started coverage on shares of Meredith in a report on Friday, December 7th. They issued a market perform rating for the company. Zacks Investment Research raised shares of Meredith from a sell rating to a hold rating in a report on Tuesday, December 11th. Benchmark reaffirmed a buy rating and set a $70.00 price objective on shares of Meredith in a report on Monday, December 17th. Finally, Gabelli started coverage on shares of Meredith in a research report on Thursday, February 14th. They issued a buy rating and a $54.97 target price on the stock. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Meredith presently has an average rating of Buy and an average price target of $61.39.

MDP traded up $0.75 on Monday, hitting $58.98. The company’s stock had a trading volume of 304,400 shares, compared to its average volume of 364,645. The company has a market cap of $2.64 billion, a PE ratio of 23.26 and a beta of 1.16. Meredith has a 12 month low of $47.30 and a 12 month high of $62.40. The company has a current ratio of 1.25, a quick ratio of 1.19 and a debt-to-equity ratio of 2.38.

Meredith (NYSE:MDP) last released its quarterly earnings data on Monday, February 11th. The company reported $1.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.24. The company had revenue of $853.50 million during the quarter, compared to the consensus estimate of $859.28 million. Meredith had a negative net margin of 1.89% and a positive return on equity of 16.96%. Meredith’s revenue for the quarter was up 104.3% on a year-over-year basis. During the same period last year, the firm earned $1.14 EPS. Research analysts forecast that Meredith will post 3.95 earnings per share for the current fiscal year.

In related news, insider John S. Zieser sold 2,550 shares of Meredith stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $56.96, for a total value of $145,248.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.70% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in shares of Meredith by 2.9% in the fourth quarter. BlackRock Inc. now owns 5,640,273 shares of the company’s stock valued at $292,955,000 after acquiring an additional 159,486 shares during the period. Vanguard Group Inc. increased its position in shares of Meredith by 1.5% during the third quarter. Vanguard Group Inc. now owns 3,642,663 shares of the company’s stock valued at $185,957,000 after buying an additional 55,167 shares during the period. Vanguard Group Inc increased its position in shares of Meredith by 1.5% during the third quarter. Vanguard Group Inc now owns 3,642,663 shares of the company’s stock valued at $185,957,000 after buying an additional 55,167 shares during the period. Ceredex Value Advisors LLC increased its position in shares of Meredith by 43.7% during the fourth quarter. Ceredex Value Advisors LLC now owns 2,686,195 shares of the company’s stock valued at $139,521,000 after buying an additional 817,094 shares during the period. Finally, Royce & Associates LP increased its position in shares of Meredith by 4.7% during the fourth quarter. Royce & Associates LP now owns 2,357,915 shares of the company’s stock valued at $122,470,000 after buying an additional 104,804 shares during the period.

Meredith Company Profile

Meredith Corporation operates as a diversified media company in the United States, Europe, and Asia. It operates in two segments, National Media and Local Media. The National Media segment offers national consumer media brands through various media platforms, including print magazines, digital and mobile media, brand licensing activities, database-related activities, affinity marketing, and business-to-business marketing products and services.

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Analyst Recommendations for Meredith (NYSE:MDP)

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