JMP Securities assumed coverage on shares of Meredith Corporation (NYSE:MDP) in a research note issued to investors on Monday morning. The brokerage issued a market perform rating on the stock.

Other research analysts have also issued reports about the company. Zacks Investment Research lowered Meredith Corporation from a hold rating to a sell rating in a research report on Friday, October 20th. ValuEngine raised Meredith Corporation from a hold rating to a buy rating in a research report on Friday, August 4th. Jefferies Group LLC reissued a hold rating and issued a $60.00 price objective on shares of Meredith Corporation in a research report on Monday, October 16th. Wells Fargo & Company lowered their price objective on Meredith Corporation from $62.00 to $54.00 and set a market perform rating for the company in a research report on Friday, October 27th. Finally, BidaskClub raised Meredith Corporation from a hold rating to a buy rating in a research report on Tuesday, July 25th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $60.60.

Shares of Meredith Corporation (NYSE:MDP) traded up $1.80 on Monday, reaching $54.25. The company’s stock had a trading volume of 681,800 shares, compared to its average volume of 510,367. The firm has a market cap of $2,343.26, a P/E ratio of 13.35, a PEG ratio of 3.97 and a beta of 1.20. Meredith Corporation has a 52-week low of $50.63 and a 52-week high of $66.25. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.08 and a quick ratio of 1.04.

Meredith Corporation (NYSE:MDP) last announced its earnings results on Thursday, October 26th. The company reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.06. The firm had revenue of $393.00 million for the quarter, compared to the consensus estimate of $397.50 million. Meredith Corporation had a return on equity of 18.24% and a net margin of 11.04%. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 EPS. equities research analysts forecast that Meredith Corporation will post 3.39 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date is Wednesday, November 29th. Meredith Corporation’s payout ratio is 50.36%.

Institutional investors have recently modified their holdings of the stock. LS Investment Advisors LLC increased its position in Meredith Corporation by 20.8% in the 2nd quarter. LS Investment Advisors LLC now owns 2,951 shares of the company’s stock valued at $175,000 after buying an additional 508 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Meredith Corporation in the 3rd quarter valued at about $167,000. State of Alaska Department of Revenue increased its position in Meredith Corporation by 3.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,050 shares of the company’s stock valued at $181,000 after buying an additional 100 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in Meredith Corporation in the 1st quarter valued at about $224,000. Finally, Janney Montgomery Scott LLC bought a new stake in Meredith Corporation in the 3rd quarter valued at about $204,000. 94.48% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Meredith Corporation (NYSE:MDP)

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