Meredith Corp. (NYSE:MDP) – Equities research analysts at Jefferies Group boosted their FY2017 EPS estimates for Meredith Corp. in a research note issued on Monday. Jefferies Group analyst J. Janedis now expects that the brokerage will post earnings per share of $3.71 for the year, up from their prior estimate of $3.67.
Meredith Corp. (NYSE:MDP) last released its earnings results on Thursday, July 28th. The company reported $1.08 EPS for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.05. Meredith Corp. had a return on equity of 15.66% and a net margin of 2.06%. The firm earned $435.78 million during the quarter, compared to the consensus estimate of $437.78 million. During the same quarter in the previous year, the company posted $0.94 earnings per share. The company’s revenue was up 2.3% compared to the same quarter last year.
Several other equities analysts have also issued reports on the company. Zacks Investment Research raised Meredith Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday. Benchmark Co. increased their target price on Meredith Corp. from $57.00 to $62.00 and gave the stock a “buy” rating in a research note on Friday, July 29th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Meredith Corp. presently has an average rating of “Hold” and a consensus target price of $54.20.
Meredith Corp. (NYSE:MDP) traded down 1.56% during midday trading on Wednesday, hitting $48.45. The company had a trading volume of 453,142 shares. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 64.60 and a beta of 1.01. The firm has a 50-day moving average price of $51.67 and a 200-day moving average price of $51.30. Meredith Corp. has a 12 month low of $35.03 and a 12 month high of $57.53.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were issued a $0.495 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 4.09%. Meredith Corp.’s payout ratio is currently 275.00%.
In other news, Chairman Stephen M. Lacy sold 14,110 shares of the stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $54.10, for a total value of $763,351.00. Following the transaction, the chairman now owns 15,415 shares in the company, valued at approximately $833,951.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John S. Zieser sold 1,206 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $55.00, for a total value of $66,330.00. Following the completion of the transaction, the insider now owns 18,000 shares in the company, valued at approximately $990,000. The disclosure for this sale can be found here. 11.24% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MDP. LS Investment Advisors LLC increased its position in Meredith Corp. by 69.6% in the second quarter. LS Investment Advisors LLC now owns 2,319 shares of the company’s stock worth $120,000 after buying an additional 952 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in Meredith Corp. by 9.1% in the second quarter. Public Employees Retirement System of Ohio now owns 2,734 shares of the company’s stock worth $142,000 after buying an additional 229 shares during the last quarter. Pacad Investment Ltd. acquired a new position in Meredith Corp. during the second quarter worth approximately $197,000. Opus Capital Group LLC acquired a new position in Meredith Corp. during the second quarter worth approximately $205,000. Finally, Nuveen Fund Advisors LLC acquired a new position in Meredith Corp. during the second quarter worth approximately $210,000. Institutional investors and hedge funds own 82.32% of the company’s stock.
Meredith Corp. Company Profile