Jefferies Group upgraded shares of Meredith (NYSE:MDP) from a hold rating to a buy rating in a research report report published on Tuesday morning, Marketbeat Ratings reports. Jefferies Group currently has $80.00 price target on the stock, up from their previous price target of $56.00. Jefferies Group also issued estimates for Meredith’s FY2020 earnings at $3.39 EPS.

MDP has been the topic of a number of other reports. ValuEngine upgraded shares of Meredith from a hold rating to a buy rating in a research report on Monday, November 27th. Zacks Investment Research downgraded shares of Meredith from a hold rating to a sell rating in a research report on Tuesday, September 26th. JMP Securities assumed coverage on shares of Meredith in a research report on Monday, November 13th. They issued a market perform rating on the stock. Wells Fargo & Company upgraded shares of Meredith from a market perform rating to an outperform rating and increased their price target for the company from $54.00 to $76.00 in a research report on Monday, November 27th. Finally, BidaskClub downgraded shares of Meredith from a buy rating to a hold rating in a research report on Tuesday, August 22nd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $71.40.

Meredith (MDP) opened at $67.90 on Tuesday. The stock has a market cap of $3,044.67, a PE ratio of 17.34, a PEG ratio of 2.51 and a beta of 1.28. 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 has a one year low of $50.63 and a one year high of $70.85.

Meredith (NYSE:MDP) last issued its earnings results on Thursday, October 26th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.06. The company had revenue of $393.00 million for the quarter, compared to analyst estimates of $397.50 million. Meredith had a net margin of 11.04% and a return on equity of 18.24%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.75 EPS. sell-side analysts expect that Meredith will post 3.39 earnings per share for the current fiscal year.

The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.06%. Meredith’s dividend payout ratio is 50.36%.

In other Meredith news, insider Paul Karpowicz sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $68.61, for a total transaction of $343,050.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frederick B. Henry sold 1,048 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $66.50, for a total transaction of $69,692.00. The disclosure for this sale can be found here. Company insiders own 4.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in MDP. State Street Corp raised its holdings in Meredith by 16.8% during the 2nd quarter. State Street Corp now owns 4,938,340 shares of the company’s stock worth $293,589,000 after buying an additional 710,721 shares during the period. BlackRock Inc. raised its holdings in Meredith by 9.1% during the 2nd quarter. BlackRock Inc. now owns 7,553,017 shares of the company’s stock worth $449,025,000 after buying an additional 627,217 shares during the period. Royce & Associates LP raised its holdings in Meredith by 28.1% during the 2nd quarter. Royce & Associates LP now owns 1,520,641 shares of the company’s stock worth $90,402,000 after buying an additional 333,861 shares during the period. Systematic Financial Management LP raised its holdings in Meredith by 904.1% during the 2nd quarter. Systematic Financial Management LP now owns 297,323 shares of the company’s stock worth $17,676,000 after buying an additional 267,713 shares during the period. Finally, Aberdeen Asset Management PLC UK raised its holdings in Meredith by 151.4% during the 2nd quarter. Aberdeen Asset Management PLC UK now owns 351,997 shares of the company’s stock worth $20,926,000 after buying an additional 211,997 shares during the period. Hedge funds and other institutional investors own 98.06% of the company’s stock.

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Meredith Company Profile

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 (NYSE:MDP)

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