Meredith Corp. (MDP) Announces Quarterly Earnings, Beats Expectations By $0.04 EPS
Meredith Corp. (NYSE:MDP) announced its earnings results on Thursday. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.04, ARN reports. The company had revenue of $390.80 million for the quarter, compared to the consensus estimate of $396.70 million.
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 Thursday, July 10th. They now have a $50.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $48.40.
Shares of Meredith Corp. (NYSE:MDP) opened at 46.81 on Thursday. Meredith Corp. has a 52 week low of $40.11 and a 52 week high of $53.84. The stock has a 50-day moving average of $46.65 and a 200-day moving average of $45.71. The company has a market cap of $2.087 billion and a P/E ratio of 20.03.
Meredith Corporation (NYSE:MDP) is a media and marketing company.
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