Meredith (NYSE:MDP) issued its quarterly earnings results on Thursday. The company reported $0.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.11, Briefing.com reports. Meredith had a net margin of 1.47% and a return on equity of 29.93%. The company had revenue of $725.20 million for the quarter, compared to the consensus estimate of $734.43 million. During the same quarter in the prior year, the company earned $1.24 EPS. Meredith’s quarterly revenue was down 6.4% on a year-over-year basis. Meredith updated its Q2 guidance to $1.59-1.72 EPS.
Shares of NYSE MDP traded up $0.74 during midday trading on Friday, reaching $37.87. 565,784 shares of the stock were exchanged, compared to its average volume of 505,939. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 7.77, a PEG ratio of 0.46 and a beta of 1.15. Meredith has a twelve month low of $30.69 and a twelve month high of $60.95. The firm has a 50-day simple moving average of $36.34 and a two-hundred day simple moving average of $47.60. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 2.39.
Several equities analysts recently weighed in on MDP shares. Citigroup cut their price target on shares of Meredith from $66.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, October 7th. Zacks Investment Research upgraded shares of Meredith from a “strong sell” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Wednesday. Guggenheim set a $35.00 price objective on shares of Meredith and gave the stock a “hold” rating in a research note on Thursday, September 5th. Benchmark dropped their price objective on shares of Meredith from $68.00 to $48.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Finally, Wolfe Research set a $30.00 price objective on shares of Meredith and gave the stock a “hold” rating in a research note on Friday, September 6th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $42.16.
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.
Receive News & Ratings for Meredith Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meredith and related companies with MarketBeat.com's FREE daily email newsletter.