Meredith Corp. PT Raised to $52.00 (MDP)
Analysts at Benchmark Co. upped their price objective on shares of Meredith Corp. (NYSE:MDP) from $45.00 to $52.00 in a research report issued to clients and investors on Wednesday, American Banking and Market News reports. The firm currently has a “hold” rating on the stock. Benchmark Co.’s target price indicates a potential upside of 0.93% from the stock’s previous close.
Shares of Meredith Corp. (NYSE:MDP) traded up 3.10% on Wednesday, hitting $51.52. The stock had a trading volume of 253,414 shares. Meredith Corp. has a 52-week low of $29.27 and a 52-week high of $51.55. The stock’s 50-day moving average is $46. and its 200-day moving average is $44.13. The company has a market cap of $2.297 billion and a P/E ratio of 18.24.
Meredith Corp. (NYSE:MDP) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.76 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.72 by $0.04. The company had revenue of $386.97 million for the quarter, compared to the consensus estimate of $383.05 million. During the same quarter last year, the company posted $0.67 earnings per share. Meredith Corp.’s revenue was up 3.3% compared to the same quarter last year. On average, analysts predict that Meredith Corp. will post $2.78 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Ned Davis Research upgraded shares of Meredith Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Monday, September 30th. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of Meredith Corp. in a research note to investors on Monday, September 30th. They now have a $43.00 price target on the stock, up previously from $42.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Meredith Corp. in a research note to investors on Wednesday, September 11th. They now have a $47.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $45.67.
Meredith Corporation (NYSE:MDP) is a media and marketing company.
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