Benchmark reaffirmed their buy rating on shares of Meredith (NYSE:MDP) in a research note published on Monday morning, AnalystRatings.com reports. They currently have a $68.00 price objective on the stock.

A number of other research analysts have also commented on the stock. Guggenheim assumed coverage on shares of Meredith in a research note on Tuesday, May 28th. They issued a neutral rating on the stock. TheStreet lowered shares of Meredith from a b rating to a c+ rating in a research note on Thursday, May 23rd. ValuEngine lowered shares of Meredith from a buy rating to a hold rating in a research note on Friday, May 10th. Zacks Investment Research upgraded shares of Meredith from a sell rating to a hold rating in a research note on Tuesday, February 26th. Finally, Gabelli assumed coverage on shares of Meredith in a research note on Thursday, February 14th. They issued a buy rating and a $54.97 price objective on the stock. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Meredith has an average rating of Buy and an average price target of $60.99.

Shares of MDP opened at $51.76 on Monday. Meredith has a 1-year low of $47.46 and a 1-year high of $62.40. The firm has a market capitalization of $2.34 billion, a P/E ratio of 20.38 and a beta of 1.20. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.22 and a quick ratio of 1.15.

Meredith (NYSE:MDP) last posted its quarterly earnings data on Friday, May 10th. The company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.75. The company had revenue of $743.40 million for the quarter, compared to analyst estimates of $726.67 million. Meredith had a net margin of 2.42% and a return on equity of 22.53%. Meredith’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the business posted ($2.74) earnings per share. As a group, sell-side analysts predict that Meredith will post 2.87 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be paid a dividend of $0.575 per share. The ex-dividend date is Thursday, May 30th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 4.44%. Meredith’s dividend payout ratio (DPR) is 90.55%.

Several institutional investors have recently modified their holdings of the company. Kore Private Wealth LLC acquired a new position in shares of Meredith during the first quarter worth about $66,000. Jane Street Group LLC acquired a new position in shares of Meredith during the first quarter worth about $227,000. Macquarie Group Ltd. increased its stake in shares of Meredith by 1.1% during the first quarter. Macquarie Group Ltd. now owns 671,583 shares of the company’s stock worth $37,112,000 after acquiring an additional 7,177 shares during the period. Coastal Investment Advisors Inc. acquired a new position in shares of Meredith during the first quarter worth about $100,000. Finally, SEI Investments Co acquired a new position in shares of Meredith during the first quarter worth about $1,519,000.

About Meredith

Meredith Corporation operates as a diversified media company in the United States, Europe, and Asia. It operates in two segments, National Media and Local Media. The National Media segment offers national consumer media brands through various media platforms, including print magazines, digital and mobile media, brand licensing activities, database-related activities, affinity marketing, and business-to-business marketing products and services.

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Analyst Recommendations for Meredith (NYSE:MDP)

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