Brokerages Set Media General Inc. (MEG) Target Price at $14.83
Media General Inc. (NYSE:MEG) has earned a consensus recommendation of “Hold” from the nine brokerages that are presently covering the firm. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $14.83.
Separately, Zacks Investment Research raised Media General from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Tuesday, September 13th.
Shares of Media General (NYSE:MEG) opened at 18.02 on Tuesday. The stock’s 50 day moving average price is $18.01 and its 200 day moving average price is $17.55. Media General has a 1-year low of $14.00 and a 1-year high of $18.65. The company’s market capitalization is $2.33 billion.
Media General (NYSE:MEG) last announced its earnings results on Friday, August 5th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.16 by $0.02. The business earned $363 million during the quarter, compared to analyst estimates of $365.85 million. Media General had a positive return on equity of 3.48% and a negative net margin of 3.50%. The firm’s revenue was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.01 earnings per share. Analysts expect that Media General will post $0.82 EPS for the current year.
In related news, VP Deborah A. Mcdermott sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $17.90, for a total value of $71,600.00. Following the completion of the transaction, the vice president now owns 4,545 shares in the company, valued at approximately $81,355.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 16.50% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of MEG. Legal & General Group Plc boosted its position in Media General by 1.6% in the second quarter. Legal & General Group Plc now owns 22,724 shares of the company’s stock valued at $392,000 after buying an additional 356 shares during the period. Suntrust Banks Inc. boosted its stake in shares of Media General by 5.6% in the second quarter. Suntrust Banks Inc. now owns 16,222 shares of the company’s stock valued at $278,000 after buying an additional 865 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Media General by 6.8% in the second quarter. Principal Financial Group Inc. now owns 14,577 shares of the company’s stock valued at $251,000 after buying an additional 922 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Media General by 13.8% in the second quarter. ProShare Advisors LLC now owns 13,343 shares of the company’s stock valued at $229,000 after buying an additional 1,613 shares during the last quarter. Finally, Amalgamated Bank boosted its stake in shares of Media General by 15.8% in the second quarter. Amalgamated Bank now owns 11,909 shares of the company’s stock valued at $211,000 after buying an additional 1,626 shares during the last quarter. Hedge funds and other institutional investors own 93.62% of the company’s stock.
About Media General
Media General, Inc is a television broadcasting and digital media company. The Company provides news, information and entertainment in markets across the United States. The Company operates or services 71 network-affiliated broadcast television stations in 48 markets along with the digital media business.
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