Meredith Corporation (NYSE:MDP) Getting Somewhat Positive Media Coverage, Study Finds
Media coverage about Meredith Corporation (NYSE:MDP) has trended somewhat positive on Sunday, Accern Sentiment reports. The research group identifies positive and negative media coverage by reviewing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Meredith Corporation earned a daily sentiment score of 0.16 on Accern’s scale. Accern also gave news stories about the company an impact score of 86 out of 100, meaning that recent media coverage is very likely to have an impact on the company’s share price in the immediate future.
These are some of the news stories that may have effected Accern’s scoring:
- Time Inc is still likely to sell — and a Trump backer could buy it (finance.yahoo.com)
- Meredith Corporation (MDP) Investment Decreased by Fisher Asset Management, LLC (highlightpress.com)
- With Shares Trading up at $58.35 (MDP) Meredith Corporation Launches New Video… (highlightpress.com)
- Meredith Corporation Launches New Video Series ‘Office Hours’ (finance.yahoo.com)
- Meredith Corporation To Report Fiscal 2017 And Fourth Quarter Results (finance.yahoo.com)
Shares of Meredith Corporation (NYSE MDP) traded up 1.28% during trading on Friday, hitting $59.20. The company’s stock had a trading volume of 254,784 shares. The company has a market capitalization of $2.64 billion, a P/E ratio of 48.76 and a beta of 1.23. Meredith Corporation has a 1-year low of $43.85 and a 1-year high of $66.25. The firm’s 50 day moving average is $55.88 and its 200-day moving average is $59.80.
Meredith Corporation (NYSE:MDP) last issued its quarterly earnings data on Thursday, April 27th. The company reported $0.87 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.87. The business had revenue of $425.40 million for the quarter, compared to analyst estimates of $422.61 million. Meredith Corporation had a return on equity of 19.44% and a net margin of 3.23%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 EPS. Analysts forecast that Meredith Corporation will post $3.89 EPS for the current fiscal year.
A number of analysts have recently issued reports on the company. Jefferies Group LLC reiterated a “hold” rating and set a $57.00 target price on shares of Meredith Corporation in a report on Monday, April 24th. Benchmark Co. boosted their price target on Meredith Corporation from $64.00 to $65.00 and gave the stock a “hold” rating in a research report on Thursday, March 23rd. BidaskClub raised Meredith Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. Zacks Investment Research lowered Meredith Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 16th. Finally, Citigroup Inc. raised Meredith Corporation from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $58.00 to $65.00 in a research report on Tuesday, May 2nd. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Meredith Corporation presently has an average rating of “Hold” and an average target price of $63.50.
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In other Meredith Corporation news, insider Steven M. Cappaert sold 2,195 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $56.96, for a total value of $125,027.20. Following the sale, the insider now owns 6,542 shares of the company’s stock, valued at approximately $372,632.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frederick B. Henry sold 3,995 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $57.50, for a total value of $229,712.50. Following the completion of the sale, the director now directly owns 2,103 shares in the company, valued at approximately $120,922.50. The disclosure for this sale can be found here. Insiders sold a total of 9,179 shares of company stock worth $527,227 in the last ninety days. Insiders own 12.40% of the company’s stock.
About Meredith Corporation
Meredith Corporation is a diversified media company. The Company is focused primarily on the home and family marketplace. The Company operates through two segments: Local Media and National Media. As of June 30, 2016, the Company’s Local Media segment includes 16 owned television stations, one managed television station and related digital and mobile media operations.
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