Shares of Meredith Corp. (NYSE:MDP) have been assigned a consensus recommendation of “Hold” from the six research firms that are covering the stock. Four investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $53.25.
Several research analysts have recently commented on the stock. Zacks Investment Research raised shares of Meredith Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, October 12th. Benchmark Co. boosted their target price on shares of Meredith Corp. from $57.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, July 29th.
In other Meredith Corp. news, Chairman Stephen M. Lacy sold 14,110 shares of the business’s stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $54.10, for a total transaction of $763,351.00. Following the sale, the chairman now directly owns 15,415 shares in the company, valued at approximately $833,951.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John S. Zieser sold 1,206 shares of the business’s stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $55.00, for a total transaction of $66,330.00. Following the sale, the insider now owns 18,000 shares in the company, valued at $990,000. The disclosure for this sale can be found here. Company insiders own 12.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Meredith Corp. by 245.2% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,157,605 shares of the company’s stock worth $112,002,000 after buying an additional 1,532,611 shares during the period. Copper Rock Capital Partners LLC bought a new stake in Meredith Corp. during the third quarter worth approximately $36,045,000. Hamlin Capital Management LLC increased its stake in Meredith Corp. by 58.1% in the second quarter. Hamlin Capital Management LLC now owns 855,554 shares of the company’s stock worth $44,412,000 after buying an additional 314,519 shares during the period. Emerald Acquisition Ltd. bought a new stake in Meredith Corp. during the second quarter worth approximately $15,722,000. Finally, Dimensional Fund Advisors LP increased its stake in Meredith Corp. by 16.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,967,824 shares of the company’s stock worth $102,148,000 after buying an additional 272,663 shares during the period. Institutional investors own 83.92% of the company’s stock.
Shares of Meredith Corp. (NYSE:MDP) opened at 45.75 on Wednesday. Meredith Corp. has a 52-week low of $35.03 and a 52-week high of $57.53. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 36.28 and a beta of 1.01. The stock has a 50 day moving average of $50.11 and a 200 day moving average of $51.41.
Meredith Corp. (NYSE:MDP) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.03. Meredith Corp. had a net margin of 3.42% and a return on equity of 16.93%. The business earned $399.90 million during the quarter, compared to analyst estimates of $400.77 million. During the same period in the previous year, the business posted $0.52 EPS. The company’s quarterly revenue was up 4.0% on a year-over-year basis. On average, analysts predict that Meredith Corp. will post $3.70 EPS for the current fiscal year.