Meredith Corp. Director Philip A. Marineau Sells 3,492 Shares (MDP)
Meredith Corp. (NYSE:MDP) Director Philip A. Marineau unloaded 3,492 shares of the company’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $45.98, for a total transaction of $160,562.16. Following the completion of the transaction, the director now directly owns 6,692 shares in the company, valued at approximately $307,698. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
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 Thursday, July 10th. They now have a $50.00 price target on the stock. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $48.40.
Shares of Meredith Corp. (NYSE:MDP) traded up 0.17% during mid-day trading on Monday, hitting $46.09. 61,054 shares of the company’s stock traded hands. Meredith Corp. has a 1-year low of $40.11 and a 1-year high of $53.84. The stock’s 50-day moving average is $46. and its 200-day moving average is $45.69. The company has a market cap of $2.053 billion and a P/E ratio of 18.40.
Meredith Corp. (NYSE:MDP) last announced its earnings results on Thursday, July 31st. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.04. The company had revenue of $390.80 million for the quarter, compared to the consensus estimate of $396.70 million. During the same quarter in the previous year, the company posted $0.75 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, analysts predict that Meredith Corp. will post $3.28 earnings per share for the current fiscal year.
Meredith Corporation (NYSE:MDP) is a media and marketing company.
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