Meredith Corp. (NYSE:MDP) – Research analysts at Jefferies Group increased their FY2017 EPS estimates for Meredith Corp. in a research note issued to investors on Monday. Jefferies Group analyst J. Janedis now forecasts that the brokerage will earn $3.71 per share for the year, up from their previous estimate of $3.67.

Meredith Corp. (NYSE:MDP) last issued its earnings results on Thursday, July 28th. The company reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.05. The company had revenue of $435.78 million for the quarter, compared to analysts’ expectations of $437.78 million. Meredith Corp. had a net margin of 2.06% and a return on equity of 15.66%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.94 earnings per share.

Earnings History and Estimates for Meredith Corp. (NYSE:MDP)

Other equities analysts have also issued research reports about the stock. Benchmark Co. lifted their price target on shares of Meredith Corp. from $57.00 to $62.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Zacks Investment Research lowered shares of Meredith Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $54.20.

Shares of Meredith Corp. (NYSE:MDP) remained flat at $50.20 during mid-day trading on Wednesday. The company’s stock had a trading volume of 109,642 shares. The stock has a 50 day moving average price of $51.92 and a 200 day moving average price of $51.33. Meredith Corp. has a one year low of $35.03 and a one year high of $57.53. The company has a market capitalization of $2.24 billion, a P/E ratio of 66.93 and a beta of 1.01.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a $0.495 dividend. The ex-dividend date was Monday, August 29th. This represents a $1.98 annualized dividend and a dividend yield of 3.94%. Meredith Corp.’s payout ratio is 275.00%.

In other news, insider John S. Zieser sold 1,206 shares of the firm’s stock in a transaction on Thursday, August 18th. The shares were sold at an average price of $55.00, for a total value of $66,330.00. Following the sale, the insider now owns 18,000 shares in the company, valued at $990,000. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Joseph H. Ceryanec sold 4,554 shares of the firm’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $54.13, for a total transaction of $246,508.02. Following the completion of the sale, the chief financial officer now owns 31,205 shares in the company, valued at approximately $1,689,126.65. The disclosure for this sale can be found here. 11.24% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in the company. BlackRock Institutional Trust Company N.A. increased its stake in Meredith Corp. by 1.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,094,652 shares of the company’s stock worth $51,996,000 after buying an additional 20,189 shares in the last quarter. Copper Rock Capital Partners LLC acquired a new stake in Meredith Corp. during the third quarter worth $36,045,000. TIAA CREF Investment Management LLC increased its stake in Meredith Corp. by 10.2% in the first quarter. TIAA CREF Investment Management LLC now owns 145,588 shares of the company’s stock worth $6,915,000 after buying an additional 13,449 shares in the last quarter. Convergence Investment Partners LLC acquired a new stake in Meredith Corp. during the second quarter worth $2,437,000. Finally, Nordea Investment Management AB increased its stake in Meredith Corp. by 249.6% in the second quarter. Nordea Investment Management AB now owns 11,625 shares of the company’s stock worth $603,000 after buying an additional 8,300 shares in the last quarter. Institutional investors and hedge funds own 82.32% of the company’s stock.

Meredith Corp. 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.

5 Day Chart for NYSE:MDP

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