Meredith Corp. Rating Lowered to Neutral at Ned Davis Research (MDP)
Meredith Corp. (NYSE:MDP) was downgraded by equities research analysts at Ned Davis Research from a “buy” rating to a “neutral” rating in a research note issued to investors on Tuesday, American Banking News.com reports.
Meredith Corp. (NYSE:MDP) traded down 0.70% during mid-day trading on Tuesday, hitting $45.4575. 58,130 shares of the company’s stock traded hands. Meredith Corp. has a 52-week low of $33.52 and a 52-week high of $53.84. The stock’s 50-day moving average is $50.27 and its 200-day moving average is $48.79. The company has a market cap of $2.032 billion and a P/E ratio of 16.84.
Meredith Corp. (NYSE:MDP) last announced its earnings results 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. Analysts expect that Meredith Corp. will post $2.82 EPS for the current fiscal year.
A number of other firms have also recently commented on MDP. Analysts at Zacks reiterated a “neutral” rating on shares of Meredith Corp. in a research note to investors on Tuesday, January 14th. They now have a $51.00 price target on the stock. Finally, 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. Ten investment analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus target price of $46.71.
Meredith Corporation (NYSE:MDP) is a media and marketing company.
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