Media General Inc. (MEG) Receives $14.20 Average PT from Brokerages
Media General Inc. (NYSE:MEG) has earned an average rating of “Hold” from the seven research firms that are presently covering the firm. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $14.20.
Separately, Zacks Investment Research cut Media General from a “buy” rating to a “sell” rating in a research note on Friday, October 7th.
In related news, VP Deborah A. Mcdermott sold 4,000 shares of Media General stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $17.90, for a total transaction of $71,600.00. Following the sale, the vice president now directly owns 4,545 shares in the company, valued at $81,355.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 16.50% of the company’s stock.
Several large investors have recently modified their holdings of MEG. Strs Ohio bought a new stake in shares of Media General during the second quarter worth $108,000. BlackRock Inc. boosted its stake in shares of Media General by 117.9% in the first quarter. BlackRock Inc. now owns 6,654 shares of the company’s stock worth $109,000 after buying an additional 3,600 shares in the last quarter. Seven Eight Capital LLC bought a new stake in shares of Media General during the first quarter worth $154,000. Seven Bridges Advisors LLC bought a new stake in shares of Media General during the third quarter worth $166,000. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Media General by 114.4% in the third quarter. BNP Paribas Arbitrage SA now owns 9,098 shares of the company’s stock worth $168,000 after buying an additional 4,855 shares in the last quarter. Institutional investors and hedge funds own 91.58% of the company’s stock.
Shares of Media General (NYSE:MEG) opened at 18.27 on Tuesday. The company has a 50-day moving average of $17.71 and a 200-day moving average of $17.64. Media General has a 52 week low of $14.00 and a 52 week high of $18.70. The firm’s market capitalization is $2.36 billion.
Media General (NYSE:MEG) last posted its earnings results on Wednesday, November 9th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by $0.85. The company earned $377 million during the quarter, compared to the consensus estimate of $404.62 million. Media General had a negative net margin of 4.25% and a positive return on equity of 6.92%. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.38) earnings per share. On average, equities analysts forecast that Media General will post $0.80 earnings per share for the current fiscal year.
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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