Media General Inc. (MEG) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Media General Inc. (NYSE:MEG) have earned an average rating of “Hold” from the nine analysts that are covering the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $14.83.
Separately, Zacks Investment Research upgraded shares of Media General from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Wednesday, September 28th.
In related news, VP Deborah A. Mcdermott sold 4,000 shares of Media General stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $17.90, for a total value of $71,600.00. Following the completion of the sale, the vice president now directly owns 4,545 shares in the company, valued at approximately $81,355.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 16.50% of the stock is currently owned by corporate insiders.
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A number of institutional investors have recently bought and sold shares of the company. Legal & General Group Plc raised its position in Media General by 1.6% in the second quarter. Legal & General Group Plc now owns 22,724 shares of the company’s stock worth $392,000 after buying an additional 356 shares in the last quarter. Suntrust Banks Inc. raised its position in Media General by 5.6% in the second quarter. Suntrust Banks Inc. now owns 16,222 shares of the company’s stock worth $278,000 after buying an additional 865 shares in the last quarter. Principal Financial Group Inc. raised its position in Media General by 6.8% in the second quarter. Principal Financial Group Inc. now owns 14,577 shares of the company’s stock worth $251,000 after buying an additional 922 shares in the last quarter. ProShare Advisors LLC raised its position in Media General by 13.8% in the second quarter. ProShare Advisors LLC now owns 13,343 shares of the company’s stock worth $229,000 after buying an additional 1,613 shares in the last quarter. Finally, Amalgamated Bank raised its position in Media General by 15.8% in the second quarter. Amalgamated Bank now owns 11,909 shares of the company’s stock worth $211,000 after buying an additional 1,626 shares in the last quarter. 93.62% of the stock is owned by institutional investors.
Media General (NYSE:MEG) traded down 1.41% during trading on Tuesday, hitting $18.19. 401,947 shares of the company’s stock were exchanged. Media General has a 12-month low of $14.00 and a 12-month high of $18.65. The company’s 50-day moving average price is $17.98 and its 200 day moving average price is $17.53. The firm’s market cap is $2.35 billion.
Media General (NYSE:MEG) last released its quarterly earnings results on Friday, August 5th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by $0.02. Media General had a negative net margin of 3.50% and a positive return on equity of 3.48%. The firm earned $363 million during the quarter, compared to the consensus estimate of $365.85 million. During the same quarter in the prior year, the business posted $0.01 earnings per share. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. Equities analysts forecast that Media General will post $0.82 earnings per share for the current fiscal year.
Media General Company Profile
Media General, Inc is a television broadcasting and digital media company. The Company provides news, information and entertainment in markets across the United States. The Company operates or services 71 network-affiliated broadcast television stations in 48 markets along with the digital media business.
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