ValuEngine Lowers Meredith (MDP) to Hold

Meredith (NYSE:MDP) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday.

Several other brokerages also recently commented on MDP. Zacks Investment Research downgraded shares of Meredith from a “hold” rating to a “sell” rating in a research note on Friday, October 20th. Jefferies Group reissued a “hold” rating and set a $60.00 price objective on shares of Meredith in a research report on Monday, October 16th. Wells Fargo & Co reduced their price objective on shares of Meredith from $62.00 to $54.00 and set a “market perform” rating on the stock in a research report on Friday, October 27th. Citigroup downgraded shares of Meredith from a “buy” rating to a “neutral” rating in a research report on Friday, December 1st. Finally, Benchmark reissued a “buy” rating and set a $77.00 price objective (up from $67.00) on shares of Meredith in a research report on Monday, November 27th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $74.20.

Shares of Meredith (NYSE:MDP) traded up $0.45 during midday trading on Thursday, hitting $65.60. 501,634 shares of the company traded hands, compared to its average volume of 406,800. The company has a current ratio of 1.08, a quick ratio of 1.04 and a debt-to-equity ratio of 0.64. Meredith has a 12 month low of $50.63 and a 12 month high of $72.25. The stock has a market capitalization of $2,940.00, a P/E ratio of 15.85, a price-to-earnings-growth ratio of 2.40 and a beta of 1.30.

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

In other Meredith news, major shareholder Edwin T. Iv Meredith sold 3,600 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $70.10, for a total transaction of $252,360.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Joseph H. Ceryanec sold 3,200 shares of the company’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $71.54, for a total transaction of $228,928.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,024 shares of company stock worth $2,443,024. Insiders own 4.00% of the company’s stock.

Several large investors have recently added to or reduced their stakes in MDP. Russell Investments Group Ltd. grew its position in shares of Meredith by 38.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 10,703 shares of the company’s stock worth $636,000 after buying an additional 2,999 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of Meredith by 3.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 352,658 shares of the company’s stock worth $20,966,000 after buying an additional 11,185 shares during the period. SG Americas Securities LLC grew its position in shares of Meredith by 53.6% in the 2nd quarter. SG Americas Securities LLC now owns 13,070 shares of the company’s stock worth $777,000 after buying an additional 4,562 shares during the period. Legal & General Group Plc grew its position in shares of Meredith by 10.9% in the 2nd quarter. Legal & General Group Plc now owns 45,175 shares of the company’s stock worth $2,682,000 after buying an additional 4,440 shares during the period. Finally, Federated Investors Inc. PA grew its position in shares of Meredith by 3.9% in the 2nd quarter. Federated Investors Inc. PA now owns 18,748 shares of the company’s stock worth $1,115,000 after buying an additional 710 shares during the period. 97.25% of the stock is currently owned by hedge funds and other institutional investors.

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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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