Meredith Corporation (NYSE:MDP) released its quarterly earnings data on Thursday, July 27th. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.96 by $0.11, Morningstar.com reports. Meredith Corporation had a return on equity of 18.98% and a net margin of 11.03%. The company had revenue of $445.40 million during the quarter, compared to the consensus estimate of $439.61 million. During the same period last year, the company earned $1.08 EPS. Meredith Corporation’s revenue for the quarter was up 2.2% on a year-over-year basis. Meredith Corporation updated its Q1 guidance to $0.60-$0.65 EPS and its FY18 guidance to $3.20-$3.50 EPS.

Meredith Corporation (NYSE:MDP) opened at 57.85 on Monday. Meredith Corporation has a 52-week low of $43.85 and a 52-week high of $66.25. The stock’s 50 day moving average price is $59.07 and its 200-day moving average price is $60.00. The stock has a market capitalization of $2.59 billion, a PE ratio of 13.91 and a beta of 1.22.

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Several research analysts have issued reports on MDP shares. BidaskClub raised Meredith Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. Zacks Investment Research cut Meredith Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, May 25th. Citigroup Inc. raised Meredith Corporation from a “neutral” rating to a “buy” rating and raised their target price for the stock from $58.00 to $65.00 in a research report on Tuesday, May 2nd. Jefferies Group LLC reaffirmed a “hold” rating and set a $60.00 price objective on shares of Meredith Corporation in a research report on Friday, July 7th. Finally, ValuEngine raised Meredith Corporation from a “hold” rating to a “buy” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Meredith Corporation presently has an average rating of “Buy” and an average target price of $63.50.

In other Meredith Corporation news, CEO Stephen M. Lacy sold 10,268 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $60.92, for a total transaction of $625,526.56. Following the transaction, the chief executive officer now owns 9,345 shares of the company’s stock, valued at approximately $569,297.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Stephen M. Lacy sold 10,339 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $60.91, for a total value of $629,748.49. Following the transaction, the chairman now directly owns 9,345 shares in the company, valued at approximately $569,203.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,635 shares of company stock worth $2,466,168. 12.40% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the stock. Iowa State Bank increased its stake in shares of Meredith Corporation by 41.9% in the first quarter. Iowa State Bank now owns 16,225 shares of the company’s stock valued at $1,048,000 after buying an additional 4,789 shares in the last quarter. North Star Investment Management Corp. increased its stake in shares of Meredith Corporation by 14.8% in the second quarter. North Star Investment Management Corp. now owns 31,025 shares of the company’s stock valued at $1,844,000 after buying an additional 4,000 shares in the last quarter. Mason Street Advisors LLC increased its stake in shares of Meredith Corporation by 1.4% in the first quarter. Mason Street Advisors LLC now owns 17,282 shares of the company’s stock valued at $1,116,000 after buying an additional 234 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Meredith Corporation during the first quarter valued at about $15,791,000. Finally, Bank of Montreal Can increased its stake in shares of Meredith Corporation by 16.1% in the first quarter. Bank of Montreal Can now owns 1,739 shares of the company’s stock valued at $113,000 after buying an additional 241 shares in the last quarter. Hedge funds and other institutional investors own 96.47% 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.

Earnings History for Meredith Corporation (NYSE:MDP)

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