Meredith Corp. (MDP) Releases Q2 Earnings Guidance
Meredith Corp. (NYSE:MDP) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.65-0.70 for the period, compared to the Thomson Reuters consensus estimate of $0.67, American Banking News.com reports. Meredith Corp. also updated its FY14 guidance to $2.60-2.95 EPS.
A number of research firms have recently commented on MDP. 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 equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $47.29.
Shares of Meredith Corp. (NYSE:MDP) traded up 1.80% during mid-day trading on Tuesday, hitting $52.05. The stock had a trading volume of 47,168 shares. Meredith Corp. has a one year low of $33.52 and a one year high of $53.84. The stock’s 50-day moving average is $51.20 and its 200-day moving average is $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 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 $2.82 earnings per share for the current fiscal year.
Meredith Corporation (NYSE:MDP) is a media and marketing company.
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