Meredith Corp. (MDP) Releases FY14 Earnings Guidance
Meredith Corp. (NYSE:MDP) issued an update on its FY14 earnings guidance on Tuesday 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 $2.82, StockRatingsNetwork.com reports. Meredith Corp. also updated its Q2 guidance to $0.65-0.70 EPS.
Shares of Meredith Corp. (NYSE:MDP) traded up 1.80% on Tuesday, hitting $52.05. 47,168 shares of the company’s stock traded hands. Meredith Corp. has a one year low of $33.52 and a one year high of $53.84. The stock has a 50-day moving average of $51.20 and a 200-day moving average of $48.70. The company has a market cap of $2.327 billion and a P/E ratio of 18.80.
Meredith Corp. (NYSE:MDP) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the 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 in the prior year, the company posted $0.55 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. Analysts expect that Meredith Corp. will post $2.82 EPS for the current fiscal year.
A number of analysts have recently weighed in on MDP shares. Analysts at Zacks reiterated a neutral rating on shares of Meredith Corp. in a research note to investors on Tuesday, November 12th. They now have a $55.00 price target on the stock. On a related note, analysts at FBR & Co. initiated coverage on shares of Meredith Corp. in a research note to investors on Tuesday, November 5th. They set a market perform rating on the stock. Finally, analysts at FBR Capital Markets initiated coverage on shares of Meredith Corp. in a research note to investors on Tuesday, November 5th. They set a market perform rating and a $49.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Meredith Corp. currently has a consensus rating of Hold and an average target price of $47.29.
Meredith Corporation (NYSE:MDP) is a media and marketing company.
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