Wall Street brokerages expect Meredith Corporation (NYSE:MDP) to post earnings per share (EPS) of $0.96 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Meredith Corporation’s earnings. Meredith Corporation posted earnings per share of $1.08 in the same quarter last year, which indicates a negative year over year growth rate of 11.1%. The business is expected to report its next earnings results before the market opens on Thursday, July 27th.

According to Zacks, analysts expect that Meredith Corporation will report full-year earnings of $3.89 per share for the current year, with EPS estimates ranging from $3.88 to $3.90. For the next financial year, analysts expect that the company will report earnings of $3.43 per share, with EPS estimates ranging from $3.39 to $3.46. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Meredith Corporation.

Meredith Corporation (NYSE:MDP) last issued its quarterly earnings data on Thursday, April 27th. The company reported $0.87 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.87. The firm had revenue of $425.40 million during the quarter, compared to the consensus estimate of $422.61 million. Meredith Corporation had a return on equity of 19.44% and a net margin of 3.23%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the company earned $0.92 EPS.

MDP has been the subject of several analyst reports. Citigroup Inc. upgraded Meredith Corporation from a “neutral” rating to a “buy” rating and upped their target price for the company from $58.00 to $65.00 in a research note on Tuesday, May 2nd. Zacks Investment Research upgraded Meredith Corporation from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Thursday, June 22nd. BidaskClub upgraded Meredith Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. ValuEngine lowered Meredith Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 7th. Finally, Jefferies Group LLC restated a “hold” rating and set a $57.00 price target on shares of Meredith Corporation in a research note on Monday, April 24th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $63.50.

Shares of Meredith Corporation (MDP) opened at 61.20 on Friday. The company’s 50 day moving average price is $57.90 and its 200-day moving average price is $59.86. Meredith Corporation has a 12 month low of $43.85 and a 12 month high of $66.25. The firm has a market capitalization of $2.73 billion, a P/E ratio of 50.41 and a beta of 1.23.

In other news, Director Frederick B. Henry sold 3,995 shares of the company’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $57.50, for a total value of $229,712.50. Following the completion of the sale, the director now owns 2,103 shares of the company’s stock, valued at $120,922.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Steven M. Cappaert sold 2,195 shares of the company’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $56.96, for a total value of $125,027.20. Following the completion of the sale, the insider now directly owns 6,542 shares of the company’s stock, valued at approximately $372,632.32. The disclosure for this sale can be found here. Insiders have sold 9,179 shares of company stock valued at $527,227 over the last 90 days. 12.40% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. Neuburgh Advisers LLC increased its stake in shares of Meredith Corporation by 15.9% in the first quarter. Neuburgh Advisers LLC now owns 1,606 shares of the company’s stock valued at $104,000 after buying an additional 220 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Meredith Corporation by 16.1% in the first quarter. Bank of Montreal Can now owns 1,739 shares of the company’s stock valued at $113,000 after buying an additional 241 shares during the last quarter. Tyers Asset Management LLC increased its stake in shares of Meredith Corporation by 15.9% in the first quarter. Tyers Asset Management LLC now owns 2,044 shares of the company’s stock valued at $132,000 after buying an additional 280 shares during the last quarter. Strs Ohio increased its stake in shares of Meredith Corporation by 46.7% in the first quarter. Strs Ohio now owns 2,200 shares of the company’s stock valued at $142,000 after buying an additional 700 shares during the last quarter. Finally, Invictus RG bought a new stake in shares of Meredith Corporation during the first quarter valued at $154,000. 96.73% of the stock is owned by institutional investors.

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About Meredith Corporation

Meredith Corporation is a diversified media company. The Company is focused primarily on the home and family marketplace. The Company operates through two segments: Local Media and National Media. As of June 30, 2016, the Company’s Local Media segment includes 16 owned television stations, one managed television station and related digital and mobile media operations.

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Earnings History and Estimates for Meredith Corporation (NYSE:MDP)

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