FY2017 EPS Estimates for Meredith Corporation Boosted by Analyst (MDP)

FY2017 EPS Estimates for Meredith Corporation Boosted by Analyst (MDP)

Meredith Corporation (NYSE:MDP) – Equities research analysts at Jefferies Group increased their FY2017 earnings estimates for shares of Meredith Corporation in a report released on Wednesday. Jefferies Group analyst J. Janedis now forecasts that the firm will post earnings of $3.79 per share for the year, up from their prior estimate of $3.72. Jefferies Group also issued estimates for Meredith Corporation’s Q4 2017 earnings at $0.95 EPS, Q1 2018 earnings at $0.64 EPS and Q3 2018 earnings at $0.79 EPS.

Several other analysts have also recently commented on MDP. Wells Fargo & Company reissued a “hold” rating on shares of Meredith Corporation in a research note on Wednesday. Zacks Investment Research cut shares of Meredith Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, December 28th. Finally, Benchmark Co. cut shares of Meredith Corporation from a “buy” rating to a “hold” rating and set a $64.00 price target on the stock. in a research note on Thursday. They noted that the move was a valuation call.

Shares of Meredith Corporation (NYSE:MDP) opened at 60.50 on Thursday. The firm has a market capitalization of $2.69 billion, a P/E ratio of 28.52 and a beta of 1.07. Meredith Corporation has a 52 week low of $37.91 and a 52 week high of $61.15. The firm’s 50-day moving average is $58.11 and its 200 day moving average is $53.55.

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

In other Meredith Corporation news, Director Frederick B. Henry sold 998 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $52.00, for a total value of $51,896.00. Following the transaction, the director now directly owns 2,085 shares of the company’s stock, valued at $108,420. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.40% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in the stock. Teacher Retirement System of Texas raised its stake in Meredith Corporation by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 5,257 shares of the company’s stock valued at $273,000 after buying an additional 636 shares during the period. Victory Capital Management Inc. raised its stake in Meredith Corporation by 17.6% in the second quarter. Victory Capital Management Inc. now owns 7,646 shares of the company’s stock valued at $397,000 after buying an additional 1,145 shares during the period. UBS Asset Management Americas Inc. raised its stake in Meredith Corporation by 1.9% in the second quarter. UBS Asset Management Americas Inc. now owns 24,095 shares of the company’s stock valued at $1,251,000 after buying an additional 456 shares during the period. Nationwide Fund Advisors raised its stake in Meredith Corporation by 2.8% in the second quarter. Nationwide Fund Advisors now owns 93,559 shares of the company’s stock valued at $4,857,000 after buying an additional 2,541 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in Meredith Corporation by 19.4% in the second quarter. Ameriprise Financial Inc. now owns 125,891 shares of the company’s stock valued at $6,535,000 after buying an additional 20,480 shares during the period. 83.85% of the stock is currently owned by hedge funds and other institutional investors.

Meredith Corporation Company Profile

Meredith Corporation is a media and marketing company. The Company operates two business segments namely local media and national media. Its national media segment includes national consumer media brands delivered via multiple media platforms including print magazines and digital and mobile media, brand licensing activities, database-related activities and business-to-business marketing products and services.

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