Meredith Corp. (MDP) Releases Quarterly Earnings Results
Meredith Corp. (NYSE:MDP) released its earnings data on Thursday. The company reported $0.41 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.67 by $0.26, American Banking News.com reports. The company had revenue of $367.00 million for the quarter, compared to the consensus estimate of $370.33 million. During the same quarter last year, the company posted $0.72 earnings per share. Meredith Corp.’s revenue was down .6% compared to the same quarter last year. Meredith Corp. updated its Q4 guidance to $0.81-0.86 EPS.
A number of research firms have recently commented on MDP. Analysts at Citigroup Inc. downgraded shares of Meredith Corp. from a “buy” rating to a “neutral” rating in a research note on Thursday, April 17th. They now have a $48.00 price target on the stock. On the ratings front, analysts at Zacks reiterated a “neutral” rating on shares of Meredith Corp. in a research note on Tuesday, March 25th. They now have a $48.00 price target on the stock. Finally, analysts at Benchmark Co. upgraded shares of Meredith Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, February 25th. They now have a $52.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Meredith Corp. has a consensus rating of “Hold” and an average target price of $48.00.
Shares of Meredith Corp. (NYSE:MDP) traded down 0.42% on Thursday, hitting $44.99. 244,314 shares of the company’s stock traded hands. Meredith Corp. has a 1-year low of $37.28 and a 1-year high of $53.84. The stock has a 50-day moving average of $46.23 and a 200-day moving average of $48.37. The company has a market cap of $2.011 billion and a price-to-earnings ratio of 17.38.
Meredith Corporation (NYSE:MDP) is a media and marketing company.
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