Meredith Corp. (MDP) Updates FY14 Earnings Guidance
Meredith Corp. (NYSE:MDP) issued an update on its FY14 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.60-2.95 for the period, compared to the Thomson Reuters consensus estimate of $2.78, AnalystRatings.Net reports. Meredith Corp. also updated its Q2 guidance to $0.65-0.70 EPS.
Meredith Corp. (NYSE:MDP) opened at 52.60 on Thursday. Meredith Corp. has a one year low of $29.27 and a one year high of $49.10. The stock has a 50-day moving average of $45.78 and a 200-day moving average of $42.64. The company has a market cap of $2.345 billion and a P/E ratio of 19.11.
Meredith Corp. (NYSE:MDP) last released its earnings data on Thursday, October 24th. The company reported $0.53 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.52 by $0.01. The company had revenue of $356.00 million for the quarter, compared to the consensus estimate of $359.70 million. During the same quarter last year, the company posted $0.55 earnings per share. Meredith Corp.’s revenue was up .6% 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.
MDP has been the subject of a number of recent research reports. Analysts at Benchmark Co. raised their price target on shares of Meredith Corp. from $45.00 to $52.00 in a research note to investors on Wednesday, October 16th. They now have a hold rating on the stock. On a related note, 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. Finally, 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. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus 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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