Meredith Corp. (MDP) Releases Q4 Earnings Guidance
Meredith Corp. (NYSE:MDP) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.81-0.86 for the period, compared to the Thomson Reuters consensus estimate of $0.84, AR Network reports. Meredith Corp. also updated its FY14 guidance to $2.60-2.95 EPS.
MDP has been the subject of a number of recent research reports. 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 research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $47.60.
Meredith Corp. (NYSE:MDP) traded down 0.16% on Thursday, hitting $43.98. 177,070 shares of the company’s stock traded hands. Meredith Corp. has a one year low of $40.11 and a one year high of $53.84. The stock has a 50-day moving average of $44.74 and a 200-day moving average of $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 issued its quarterly earnings data on Thursday, April 24th. The company reported $0.41 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $0.72 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. Analysts expect that Meredith Corp. will post $2.76 EPS for the current fiscal year.
Meredith Corporation (NYSE:MDP) is a media and marketing company.
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