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Meredith Corp. (NYSE:MDP) Director Philip A. Marineau sold 3,492 shares of Meredith Corp. stock on the open market in a transaction dated Monday, June 2nd. The stock was sold at an average price of $44.96, for a total value of $157,000.32. Following the transaction, the director now directly owns 2,616 shares of the company’s stock, valued at approximately $117,615. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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 on Wednesday, May 21st. They now have a $46.00 price target on the stock. Separately, 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. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $47.60.

Shares of Meredith Corp. (NYSE:MDP) traded down 0.66% during mid-day trading on Tuesday, hitting $45.21. The stock had a trading volume of 81,825 shares. Meredith Corp. has a 1-year low of $39.52 and a 1-year high of $53.84. The stock has a 50-day moving average of $45.18 and a 200-day moving average of $47.02. The company has a market cap of $2.016 billion and a P/E ratio of 19.37.

Meredith Corp. (NYSE:MDP) last announced its earnings results on Thursday, April 24th. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by $0.26. The company had revenue of $367.00 million for the quarter, compared to the consensus estimate of $370.33 million. During the same quarter in the previous year, the company posted $0.72 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. On average, analysts predict that Meredith Corp. will post $2.76 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.432 per share. This represents a $1.73 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend is Wednesday, May 28th.

Meredith Corporation (NYSE:MDP) is a media and marketing company.

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