Meredith Corp. Given Neutral Rating at Zacks (MDP)
Meredith Corp. (NYSE:MDP)‘s stock had its “neutral” rating restated by Zacks in a note issued to investors on Tuesday, AnalystRatings.Net reports. They currently have a $51.00 target price on the stock. Zacks‘ price target would indicate a potential upside of 4.66% from the company’s current price.
Zacks‘ analyst wrote, “Meredith boasts a strong portfolio of women’s magazines, which helps it to secure market share. It remains focused on bolstering digital advertising revenues enhancing online consumer transactions, especially magazine subscription orders and laying more emphasis on other revenue generating avenues such as brand licensing to make it less susceptible to the economic downturns. The company’s latest attempt is the acquisition of T.V. stations from Gannett and Sander Media. However, we are cautious about the stock’s prospects as persisting macroeconomic headwinds and higher dependence on traditional advertising revenue may mute the company’s performance. Given the pros and cons embedded in the stock we reiterate our Neutral recommendation. “
MDP has been the subject of a number of other recent research reports. 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. Separately, 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. Finally, 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. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $46.71.
Meredith Corp. (NYSE:MDP) traded down 0.35% during mid-day trading on Tuesday, hitting $48.56. The stock had a trading volume of 141,975 shares. Meredith Corp. has a 52-week low of $33.52 and a 52-week high of $53.84. The stock has a 50-day moving average of $50.93 and a 200-day moving average of $48.82. The company has a market cap of $2.171 billion and a P/E ratio of 17.92.
Meredith Corp. (NYSE:MDP) last posted its quarterly earnings results 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 previous year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was up .6% on a year-over-year basis. Analysts expect that Meredith Corp. will post $2.82 EPS for the current fiscal year.
Meredith Corporation (NYSE:MDP) is a media and marketing company.
To view Zacks’ full report, visit www.zacks.com
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.