Meredith (NYSE:MDP) Announces Earnings Results, Beats Expectations By $0.11 EPS

Meredith (NYSE:MDP) released its quarterly earnings results on Thursday. The company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.11, Briefing.com reports. The business had revenue of $725.20 million during the quarter, compared to analyst estimates of $734.43 million. Meredith had a return on equity of 29.93% and a net margin of 1.47%. Meredith’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.24 EPS. Meredith updated its Q2 guidance to $1.59-1.72 EPS.

Shares of Meredith stock traded up $0.74 during trading hours on Friday, hitting $37.87. 565,784 shares of the company’s stock traded hands, compared to its average volume of 505,939. Meredith has a 12-month low of $30.69 and a 12-month high of $60.95. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 7.77, a PEG ratio of 0.46 and a beta of 1.15. The company has a fifty day simple moving average of $36.34 and a 200-day simple moving average of $47.60. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.07 and a quick ratio of 1.02.

A number of research firms recently commented on MDP. Zacks Investment Research raised Meredith from a “strong sell” rating to a “buy” rating and set a $41.00 price target for the company in a research report on Wednesday. Benchmark lowered their price target on Meredith from $68.00 to $48.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Citigroup lowered their price target on Meredith from $66.00 to $44.00 and set a “buy” rating for the company in a research report on Monday, October 7th. Guggenheim set a $35.00 price target on Meredith and gave the company a “hold” rating in a research report on Thursday, September 5th. Finally, Wolfe Research set a $30.00 price target on Meredith and gave the company a “hold” rating in a research report on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Meredith presently has a consensus rating of “Buy” and a consensus price target of $42.16.

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In other Meredith news, CEO Thomas H. Harty bought 12,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was purchased at an average cost of $35.02 per share, with a total value of $420,240.00. Following the transaction, the chief executive officer now directly owns 46,455 shares in the company, valued at approximately $1,626,854.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Elizabeth E. Tallett bought 1,250 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were acquired at an average cost of $37.45 per share, with a total value of $46,812.50. The disclosure for this purchase can be found here. Company insiders own 5.30% of the company’s stock.

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.

Further Reading: Net Income

Earnings History for Meredith (NYSE:MDP)

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