Meredith Corp. (MDP) Issues FY14 Earnings Guidance
Meredith Corp. (NYSE:MDP) issued an update on its FY14 earnings guidance on Thursday morning. The company provided EPS guidance of $2.60-2.95 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.76, AmericanBankingNews.com reports. Meredith Corp. also updated its Q4 guidance to $0.81-0.86 EPS.
Meredith Corp. (NYSE:MDP) traded down 0.16% during mid-day trading on Thursday, hitting $43.98. 177,070 shares of the company’s stock traded hands. Meredith Corp. has a 52 week low of $40.11 and a 52 week high of $53.84. The stock’s 50-day moving average is $44.74 and its 200-day moving average is $46.41. The company has a market cap of $1.961 billion and a price-to-earnings ratio of 18.75.
Meredith Corp. (NYSE:MDP) last posted its quarterly 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.
Several analysts have recently commented on the stock. 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. On a related note, 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 assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $47.60.
Meredith Corporation (NYSE:MDP) is a media and marketing company.
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